Laser
3d ago
I was wrong about this and so was Bukele. Taxes offset the deficit by trillions of dollars. Taxes are a real form of revenue. They do "fund" the government.
In order to drop the income tax, the Gov will need to either drastically reduce spending (unlikely) or tax via other means (likely) via tariffs, consumption taxes, and inflation.
Don't get me wrong: eliminating the #IRS would be a supreme good, especially considering households can save in #Bitvoin to opt out of the inflation tax.
Hard to quantify just how much more economic activity we would have without all the red tape and bullshit that comes with engaging in basic commerce as an earner or a producer.
Unleash the great economic engine of a free people. Move taxes to consumption instead of earning. Collect directly from businesses. Leave families (the consumer) alone.
In order to drop the income tax, the Gov will need to either drastically reduce spending (unlikely) or tax via other means (likely) via tariffs, consumption taxes, and inflation.
Don't get me wrong: eliminating the #IRS would be a supreme good, especially considering households can save in #Bitvoin to opt out of the inflation tax.
Hard to quantify just how much more economic activity we would have without all the red tape and bullshit that comes with engaging in basic commerce as an earner or a producer.
Unleash the great economic engine of a free people. Move taxes to consumption instead of earning. Collect directly from businesses. Leave families (the consumer) alone.
BottleTeams
•
3d ago
Boomers think income taxes at 0% is impossible. They don't understand taxes don't fund the government.
#Burrrr
#Burrrr
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Frosty
@Forever, Laura
3d ago
Correct me if I'm wrong, most federal taxes go to paying just the interest on the national debt. Federal tax law was inacted in 1913, that date should ring a 🔔 . It was a scam from the beginning
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Lashi.shota
@Lashi.shota
3d ago
Yes, taxes are the cash flow, it doesn't make sense to have permanent debt without cash flow, the government has to pay back at least the interest rate to signal a good credit score.
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Marc
@Marc
3d ago
I totally agree.
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Dave
@Dave
3d ago
Truth bomb right here ☝🏼
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BottleTeams
@bitbybit
3d ago
As long as there is strong demand for the dollar outside of the US tariffs will work. The rest of the world will have to build things for us and they get our "good" money. If that works we can eliminate the IRS.
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Laser
@Laser
3d ago
🤞
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