The Recession into 2028 Trump Does Not Understand
Posted Nov 17, 2024 by Martin Armstrong
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As I said, Trump’s plan to eliminate and replace the income tax with tariffs will fail. I understand those who proposed the idea, citing that the nation was funded by tariffs before the income tax, and a return to that funding system may look good in bullet points, but the economy is far more complex, and the socialistic goals will not be able to simply be cut without resistance.
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I think the biggest risk is, like with the proposal for a national sales tax, is that we wind up with both tariffs and the income tax.
I am struck by the realization that some people have had that only “We, The Sheeple” pay taxes. Corporate taxes are passed through to the consumer — “We, The Sheeple”. ALL taxes eventually are our burden.
So why not swap the IRS for tariffs?
Yeah, it may cause some disruption but it has to be a net positive to eliminate all the bureaucrats and administrivia surrounding the income tax. Everyone will be better off when the annual ritual is terminated. Yeah, I am sure that H&R Block will scream bloody murder. But imagine getting your paycheck without deductions?
I like it.
And I still haven’t heard a good argument why not.
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Reinke Faces Life 