Most of our government expenditures are waste and money laundering through foreign "aid". There are more than 2 and a half million Federal employees. Do we really need that many?
Turn on the oil spigot. We have the largest oil reserves in the world by far. Two to three trillion barrels in the Green River shales alone. That is more oil than all the worlds known reserves plus every drop that has been pumped to date.
Currently 90% of income tax is paid by individuals. Corporations pay these taxes indirectly through higher employee costs - wages must be higher to cover the 25-35% tax burden on employees. If companies could reduce employee costs by 25 to 35% and imports were more expensive due to tariffs, that would incentivize companies to make product in the US. Think of the benefits - companies would make more money and pay more corporate taxes. Employment would rise, reducing social welfare costs. Employees could be paid less by not paying 1/3 of their income to the government, reducing costs and allowing prices of domestic products to be lower, benefitting US consumers and making US products more competitive globally; though I would expect retaliatory tariff to be imposed on US goods by other countries. However, I believe the impact would be biggest on countries with which we have large trade deficits - China ($346B), Mexico ($100B), Japan ($69B), Germany ($67B) and Canada ($27B).
Although it sounds crazy at first, I think this idea deserves some critical analysis. It just might be crazy enough to work!
The only issue is that it takes many more years than 4 or 8 to rebuild and restructure an economy of this size. And that's assuming EVERYONE is on board and working to those same goals instead of trying to tear it all down or bastardize it beyond recognition again after those 4 to 8 years are up.
We've been in the dismantling phase for 8 years already, this was the natural breaking point for fiat. We have little choice but change as the old system is braindead on life support for just a bit longer.
Those other countries aren't getting that money. Foreign aid is just a laundromat. This is why nothing ever changes in those countries despite the billions we've "sent" to them.
The honest answer is no: not on its own. But that's not the fault of tax vs tariffs, it's just the reality of our endless social programs, foreign aid packages, government spending, etc.
It's just better than income taxes because it allows people to make a choice to spend or not, rather than automatically losing a substantial amount of what they earn.
A well instituted tariff program with proper carrot incentives can do very well, but will fail the same if other changes aren't made.
All those programs get axed. Dependency be dawned. The only legit funded programs are for those who've earned a pension. Those will have to still be paid.
Of course, we can afford it. Cut out 90% of the fat and you don't even need tariffs. The economy would grow at a rate that it would cause deflation, you would then add gold backed currency to the economy to balance out that deflation. That is your yearly budget. If it's not enough, you use tariffs or even a national sales tax on certain goods or services. An income tax was never needed, and its only purpose was to enslave us and steal as much as they could before the system eventually collapsed.
If I remember correctly Regan had a study done that concluded that not a dime of income tax money went to running the gov't. If I am mistaken please correct me. They tried to kill him.
We can afford it because we will stop paying out money to foreign nations for zeroing return. Plus it will limit the growth of government, reduce wars because a war will reduce tarrifs reducing the govt budget amd we know gov officials don't like to cut. Plus it will fully alignment us with our Constitution again.
I think we should do away with property tax. There was a guy (Uri Rafaeli) in my state that lost his house due to unpaid back tax of $8.41. Error was made in calculating the interest owed in the back taxes. When you can lose your largest investment for things like land that never truly own, we'll never be free.
The government should utilize funding for start up businesses: appliance manufacturing, autos, pharmaceuticals, furniture, clothing, farming, etc. Make the U.S. self sufficient again. Few imports, and imports are taxed at a higher rate than buying U.S. Make it mandatory that all products sold clearly state the country of origin.
This is a big country, run properly it should always be making a profit and paying each of us dividends.
Most of our government expenditures are waste and money laundering through foreign "aid". There are more than 2 and a half million Federal employees. Do we really need that many?
Turn on the oil spigot. We have the largest oil reserves in the world by far. Two to three trillion barrels in the Green River shales alone. That is more oil than all the worlds known reserves plus every drop that has been pumped to date.
Currently 90% of income tax is paid by individuals. Corporations pay these taxes indirectly through higher employee costs - wages must be higher to cover the 25-35% tax burden on employees. If companies could reduce employee costs by 25 to 35% and imports were more expensive due to tariffs, that would incentivize companies to make product in the US. Think of the benefits - companies would make more money and pay more corporate taxes. Employment would rise, reducing social welfare costs. Employees could be paid less by not paying 1/3 of their income to the government, reducing costs and allowing prices of domestic products to be lower, benefitting US consumers and making US products more competitive globally; though I would expect retaliatory tariff to be imposed on US goods by other countries. However, I believe the impact would be biggest on countries with which we have large trade deficits - China ($346B), Mexico ($100B), Japan ($69B), Germany ($67B) and Canada ($27B).
Although it sounds crazy at first, I think this idea deserves some critical analysis. It just might be crazy enough to work!
It would kneecap the ultra rich who are outsourcing their slavery to Asia. I call that a win.
Good to see others who get it
https://media.scored.co/post/zEVkjddQTwQJ.jpeg
The only issue is that it takes many more years than 4 or 8 to rebuild and restructure an economy of this size. And that's assuming EVERYONE is on board and working to those same goals instead of trying to tear it all down or bastardize it beyond recognition again after those 4 to 8 years are up.
Some things would take 4-8 years. Things in high demand would appear quicker.
We've been in the dismantling phase for 8 years already, this was the natural breaking point for fiat. We have little choice but change as the old system is braindead on life support for just a bit longer.
Step one down and step the other up.
Decimate the federal agencies and end foreign aid.
It might work with enough cuts.
A lot of agencies were created to regulate the country to death. imo Thin the herd save America.
Every American worker would be able to afford this.
Yeah, it's the other countries that couldn't afford it because the foreign aid would dry up.
Those other countries aren't getting that money. Foreign aid is just a laundromat. This is why nothing ever changes in those countries despite the billions we've "sent" to them.
The honest answer is no: not on its own. But that's not the fault of tax vs tariffs, it's just the reality of our endless social programs, foreign aid packages, government spending, etc.
It's just better than income taxes because it allows people to make a choice to spend or not, rather than automatically losing a substantial amount of what they earn.
A well instituted tariff program with proper carrot incentives can do very well, but will fail the same if other changes aren't made.
All those programs get axed. Dependency be dawned. The only legit funded programs are for those who've earned a pension. Those will have to still be paid.
Of course, we can afford it. Cut out 90% of the fat and you don't even need tariffs. The economy would grow at a rate that it would cause deflation, you would then add gold backed currency to the economy to balance out that deflation. That is your yearly budget. If it's not enough, you use tariffs or even a national sales tax on certain goods or services. An income tax was never needed, and its only purpose was to enslave us and steal as much as they could before the system eventually collapsed.
If I remember correctly Regan had a study done that concluded that not a dime of income tax money went to running the gov't. If I am mistaken please correct me. They tried to kill him.
We can afford it because we will stop paying out money to foreign nations for zeroing return. Plus it will limit the growth of government, reduce wars because a war will reduce tarrifs reducing the govt budget amd we know gov officials don't like to cut. Plus it will fully alignment us with our Constitution again.
Tariffs, Property Tax and expenditures VAT. But no income tax.
I think we should do away with property tax. There was a guy (Uri Rafaeli) in my state that lost his house due to unpaid back tax of $8.41. Error was made in calculating the interest owed in the back taxes. When you can lose your largest investment for things like land that never truly own, we'll never be free.
I believe in property tax. Should contribute to community in some way to maintain essential services.
The government should utilize funding for start up businesses: appliance manufacturing, autos, pharmaceuticals, furniture, clothing, farming, etc. Make the U.S. self sufficient again. Few imports, and imports are taxed at a higher rate than buying U.S. Make it mandatory that all products sold clearly state the country of origin.