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To be clear, the TCJA adds 4.5 Trillion in deficit. The Trump admin promises but has utterly failed to come close to cutting 2 Trillion in deficit by dismantling government systems and services.
Unless they magically conjure 2.5 Trillion dollars from thin air without borrowing a single dollar from the Treasury, the budget will never be balanced. That is the plan.
maga-fash: “No more taxes!”
Also, maga-fash: 200% Tariff (aka: taxation with extra steps)
Right after he drops the major greatest and bestest healthcare plan called “Obamacare Replacement”, everyone is saying the healthcare plan is the universally humongous and very very super nice.
So, everyone earning less than 150k will have no taxes and everyone earning more than 150k will have no taxes. Who the fuck will be paying taxes?
The order of business is to first remove taxes for people earning more than 1 million, before in a second step attempting to balance the budget. If (and only if) that second step succeeds will people under 150,000 see a tax cut. In other words that will never happen.
Tariffs!!!
…and a Monorail!!!Presumably Mexico, Canada, and China, through tariffs.
Oh wait no, Americans pay those too. And since tariffs/sales taxes are regressive, they will disproportionately be paid by everyone earning less than 150k.
He successfully got Mexico to pay for the wall so I don’t see this being an issue whatsoever.
He also has a gorgeous natural complexion and very real, very luscious hair.
STOP with your high-falutin’ maths, logic, and facts BS…and hop aboard the Monorail!!!
I call the big one Krasnov
Tariffs don’t work like that. They are taxes in foreign goods, so Americans are the ones paying.
Yes, that’s what I said.
That idiot can barely balance his own body while standing still.
No taxes but an egg is $100 and a loaf of bread is $1000. All hail magnificent leader but how many wheelbarrows full of money do I need to pay for my weekly groceries? Or is he making a new orange $1000 bill with his face on it?
They already used Grover Cleveland for the $1000 and are planning to put Assface on the $100, oh and maybe a new $250 too…
Reading about the $100 from your link literally made me gag. I had no idea about this.
That’s some champion brownnosing… You can really understand why trump thought zelensky wasn’t showing enough gratitude.
I’m sure he’ll get around to this right after Infrastructure Week
Still waiting for healthcare to get “fixed” almost 10 years later.
“Balancing the budget” means “fuck your health”.
It will be. Right after infrastructure week fixes all the roads and bridges.
muskrat’s new flying cars will save us from decaying and crumbling infrastructure.
It’ll actually be the Hyperloop.
A tariff is a tax
Import tariffs cannot possibly replace income tax. It’s not even vaguely possible. A 25% import tariff on literally everything would mean that Americans would have to import (AFTER the reduction in demand for imported products caused by tariffs) 4 times the amount the US government takes in income taxes. The US government gets on the order of 4 Trillion dollars in income tax. So Americans would have to import 16T total DESPITE the tariffs to make this up.
There is simply no world in which this works.
Plus the goal of using tariffs to eliminate the income tax is directly counter to the goal of reducing trade deficits and bringing back manufacturing, since to keep the income tax eliminated you need US consumers to continue importing and paying the fucking tariffs.
So not only does the math not math, if the tariffs succeeded at one of their stated goals they would necessarily fail at the other.
Okay, but what if the tariffs were higher? Say, 200%? Then we would only have to import half our entire government budget worth of goods!
Reminder that retiring the US debt would retire the US dollar
That was a good read, thanks!
AKA never.
This sounds so much like the “when the Communist revolution comes” of old Soviet countries…
is that mythical balanced budget gonna happen before or after you steal more from future generations by piling trillions onto the national debt to give handouts to the rich… ?
It’s never, but also that
Did not see this one coming, for sure. /s
Bet the ultrarich tax breaks are marked with a bright red “Priority No. 1” though, right? 🥸
Well yeah, that’s the order of strategies…
Step 1: Tax cuts for the rich.
Step 2: Declare and win wars with… Canada, Greenland, Mexico, Panema, China, Palestine, Ukrane.
step 3: Attempt to completely eliminate the national debt. by cutting all services and regulations.
I’m sure another dozen steps… but trust me, those of us making under 150k are on the list.
No taxes means no FICA means no social security.
