Freddy Figbottom
Was it me?
tell me more.
INCOME TAX ELIMINATION
- Thread starter gfm7175
- Start date
IBDaMann
Well-known member
This is the correct answer:
8.1K views · 198 reactions | Trump says his trade policy is making America “very rich and respected” | Roya News English
Trump says his trade policy is making America “very rich and respected”.
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AProudLefty
The remora of JPP
Random word generation.
gfm7175
Mega MAGA
This is the correct answer:
8.1K views · 198 reactions | Trump says his trade policy is making America “very rich and respected” | Roya News English
Trump says his trade policy is making America “very rich and respected”.
Into the Night
Verified User
A solid prediction, since Trump himself made that prediction!I'm going to make what might be a rather bold prediction (but some here might see it otherwise).
I'm predicting that, once Summer 2026 starts approaching, President Trump will announce that ("DUE TO THE HUNDREDS OF BILLIONS OF DOLLARS IN ADDITIONAL TARIFF REVENUE") the federal income tax is going to be eliminated for all income at or below [$_________] (my guess is $100K, but the exact number could be as low as $75K or as high as $150K... this detail is TBD).
Just think of it... THOUSANDS upon THOUSANDS of extra dollars staying in YOUR pocketbook each year. HAPPY (TRUMPY) DANCE!!!!!!!!!!
Into the Night
Verified User
Heh. That's a given!
The deficit is blowing past $2 trillion. It was above $2 trillion before, but that was during the pandemic, an emergency. Now it is blowing past $2 trillion as the new normal. It will just be over $2 trillion forever now... And rising.
If you get rid of income tax, and that becomes $4.5 trillion and rising. Borrowing $2 trillion or about 7% of the economy is hard, but kind of doable. Borrowing 16% of the economy is nearly impossible. Maybe if there was a war, and we could convince people to loan that much of the economy for the war effort, patriotism, and whatnot... But borrowing 16% of the economy, because trump wants to make us all dance a "happy trump dance"... No, that is not going to fly.
Besides, two thirds of Americans pay more in payroll taxes than income taxes, so that would give you more "happy dance" bang for the buck.
If trump actually does it, the economy will collapse under the government borrowing.
lol $2 trillions not '7% of the economy', dumbass. As the trade deficit keeps declining, the tax base will grow, and rates will be cut. This is your commie party's greatest fear.
AI Overview
During World War I, the United States federal income tax rates increased dramatically to help finance the war effort
. The Revenue Act of 1916 and the War Revenue Acts of 1917 and 1918 repeatedly raised marginal tax rates and lowered the income thresholds at which taxes applied, expanding the tax base.
Pre-war (1913–1915)
When the federal income tax was instituted in 1913, the rates were very low and applied to a small portion of the population.
Even before the U.S. formally entered the war, Congress passed the Revenue Act of 1916, which significantly increased tax rates.
The War Revenue Act of 1917 drastically increased tax rates and lowered exemptions to expand the number of taxpayers.
The Revenue Act of 1918, passed after the war's conclusion, set even higher rates, which were applied retroactively to incomes from 1918. This represented the peak of wartime taxation.
The rapid increase in rates transformed the income tax from a minimal tax on the wealthy to a major source of federal revenue:
During World War I, the United States federal income tax rates increased dramatically to help finance the war effort
. The Revenue Act of 1916 and the War Revenue Acts of 1917 and 1918 repeatedly raised marginal tax rates and lowered the income thresholds at which taxes applied, expanding the tax base.
Pre-war (1913–1915)
When the federal income tax was instituted in 1913, the rates were very low and applied to a small portion of the population.
- Lowest Rate: 1% on net personal income over $3,000.
- Top Rate: 7% on income over $500,000.
Even before the U.S. formally entered the war, Congress passed the Revenue Act of 1916, which significantly increased tax rates.
- Lowest Rate: Raised from 1% to 2%.
- Top Rate: Jumped from 7% to 15%, applying to incomes over $2 million.
The War Revenue Act of 1917 drastically increased tax rates and lowered exemptions to expand the number of taxpayers.
- Lowest Rate: The 2% rate was applied to a lower threshold of income, starting at $2,000 instead of $20,000.
- Top Rate: The top marginal rate was raised to 67% on incomes over $2 million.
The Revenue Act of 1918, passed after the war's conclusion, set even higher rates, which were applied retroactively to incomes from 1918. This represented the peak of wartime taxation.
- Lowest Rate: The normal tax rate was increased from 2% to 6%.
- Top Rate: A new top marginal rate of 77% was instituted for incomes over $1 million.
The rapid increase in rates transformed the income tax from a minimal tax on the wealthy to a major source of federal revenue:
- Increased Revenue: Income tax revenue funded roughly one-third of the total cost of World War I.
- Expanded Taxpayer Base: While only about 1% of the population paid income tax in 1913, that figure grew to about 5% by 1918.
The US economy is 29 trillion, so $2 trillion would be 7%, or more exactly 6.85...%. We are dealing in rough numbers, and all know that within the next year the deficit will be well above $2 trillion. The deficit is rising quicker than the economy.
United States GDP
The Gross Domestic Product (GDP) in the United States was worth 29184.89 billion US dollars in 2024, according to official data from the World Bank. The GDP value of the United States represents 27.49 percent of the world economy. This page provides - United States GDP - actual values...
tradingeconomics.com
We have gone above that before, but those were emergencies. This is a new normal, when there is no emergency. It is not temporary, and in fact is getting worse.
How much do you think the economy can loan the US Government year after year and sill grow?
If we get rid of income tax, that starts looking more like 16% of the economy. We have borrowed more than 16% of the economy before, in 1943, 1944, and 1945... That was temporary, and needed a huge amount of patriotism to get it. If it had been 1943 until now, we would be living in a very different country... A much poorer country.
Rubbish. The U.S. economy is almost 3 times that. You just spout numbers without looking at how they're arrived at, you probably don't even know what comprises the entire economy. Housing market alone is over $49 trillion by itself, for instance, and that number is a couple of years old. GNP was over $30 trillion in just the 2nd quarter of this year. Screw 'GDP' numbers, it's just a gimmick to hide the real economy behind.
The "economy will collapse" if the Oligarch class is no longer shielded from paying taxes?
America thrived under the Constitution - which forbade direct (Income) taxation. Tariffs, Duties, and Fees are blind and cannot be manipulated to ensure the Soros and Cook types are immune to taxes - which is why your party opposes using the Constitutional method to fund our government.
Edwina is desperate to find a way to borrow money so she does not have to pay for trump's out of control spending.
You want us to sell all our houses to fund the government for one more year? And who would we sell our houses too? There is only so much money going around in economy, so it really does not matter if we sell our houses, or borrow it, it is still coming out of the economy. And then what do we do next year when we need to borrow 20% more? Do we sell our children?
GDP was $29.18 trillion and GNP was $30.47 trillion, so a 4% difference. We are dealing in rough numbers, so 4% is a rounding error.
No, the economy will collapse if we eliminate taxes. Look at the title of the thread: "INCOME TAX ELIMINATION." It is not "introduction of reasonable taxes on the rich."
The fact is the government under trump is borrowing at such a high rate, it is nearly impossible for us to more than double the borrowing. We really should be looking to decreasing the deficit, rather than continuing to increase it to higher and higher rates.
Did it? Pre-industrial average income in the USA was about $3k. For most Americans there was no retirement, they worked until they were too sick to work, and then they died. Life expectancy was about 35... And that excludes the infant mortality rate of about 400 out of 1,000.
We were doing about as well as Afghanistan is now. That was very good back then, but right now would be a disgrace. The idea of returning to it would be horrible.
I have friends who are flying to Europe to buy watches, so they can avoid tariffs. Tariffs are a consumption tax, so are easily avoided by consuming abroad. Soros and Cook need only consume abroad, and they will owe no taxes.
Tariffs are taxes.
ROFL
Income taxes are designed to place the tax burden on the middle class.
Here is a visual explaining how it works;
Borrowing to cover the Green Raw Deal? I see another $30 Billion got chopped from the Biden embezzlement scam today
And an acre of land cost $20 - your chicanary isn't impressive.
You are confusing us with the UK. Most of America was agricultural with generational farms. The elderly lived with the family.
Your Marxist rhetoric doesn't work. Most Americans in the 19th century were land owners on a familial level - unlike the rotters content where land is reserved to the Aristocracy. As democrats are attempting to mold America now.
BWAHAHAHAHAHAHAHA
In 1320 it was, boy do you shovel some insane bullshit. Actually - even then it wasn't that low.
The shit you make up.
Then by all means move to Afghanistan. They have a government that is consistent with your beliefs/
ROFL
The shit you shovel. Cook wants to sell iPhones to 50 million Americans, not buy a knock off Rolex in Bangkok. No - he can't escape the tariffs.
Freddy Figbottom
Was it me?
transfer it all to tariffs, fucking idiiot.
why are you such a globalist fartsniffer who's named after a dangerous drug?
Freddy Figbottom
Was it me?
Over 75% of Americans owned their own farms, and paid on average around $2 a year in taxes before the 1820's. Urbanization was almost non-existent.
Freddy Figbottom
Was it me?
the family farm is the optimal, and most reality-based model for human existence. --Maximus Meridius
remember how he was always fixated on dirt, and really just wanted to be on his farm in Spainium or wherever and not playing imperial intrigue games?