Loading ...Response to prior post:
I knew about the USA was living off tariffs, and taxes on profits only. Thats why income taxes are not fair. Many people can’t afford to pay taxes. Income taxes should only be taxed on the amount OVER what it cost you to live, like a business. I took out a few parts to comment on.
#1 They raise the prices on imported items like clothing and groceries, placing a larger burden on lower-income Americans who spend a bigger percentage of their income on those goods.
Re #1: If imported goods get very expensive, it would create opportunities for Americans to produce them locally cheaper higher more Americans and pay taxes on profits reselling to Americans. There will always be a tax on profits.
#2 Tariffs dwindled as a source of federal revenue while income taxes expanded. Today, tariffs make up just 2 percent of federal revenue, while income and payroll taxes make up about 94 percent.
Re #2 It makes sense that as tariffs were cut off big business taxed the employees incomes instead. Also My #1 response is the same. We have a very distorted economy with too many lower-income Americans because of the past.
#3 Mr. Trump said he would consider allowing police officers, firefighters and military service members to forgo paying taxes.
Re #3 I once made a post about that decades ago. I suggested that all tax absorber employees should NOT be taxed and credited for paying taxes, because they pay taxes to themselves or live off taxes. Just pay them less. Instead of overpaying them so their take home pay is still good.
#4 Overall, his agenda would raise taxes on low-income Americans, provide a tax break for the richest and drastically increase the deficit, according to an analysis from the Institute on Taxation and Economic Policy, a liberal think tank.
Re #4 Is just bull shit. Any transition like getting off drugs, from bad to good is naturally painful.
#5 While president, he wound up having to bail out American farmers whose exports to China slumped during a protracted trade war.
Re #5 Similar to #4 the US farmers started a bad habit selling food overseas. There would naturally be pain at first, but afterword the Americans would be buying more American food. Even Henry Ford screwed up selling model Ts all over the world, obligating us to buy imported cars.
Comment re part: “according to an analysis from the Institute on Taxation and Economic Policy, a liberal think tank.”
Liberals have zero common sense. They are emotional rather than practical. Or womanly versus manly. And they outnumber the people with common sense. And or they are an outspoken vocal minority.