You are correct, the president cannot do anything about state taxes. But Donald Trump has this way about him where he gets people to do things...
He will have so much popular support in the future that I believe most state governments will bow to his "suggestions" for fear of being branded losers.
In the future there will be sales tax.
There will be taxes on corporations.
There will be no filing of income taxes.
There will be no tax on inheritance.
As i see it, trump will eliminate income tax, causing the last remnants of the cabal to spike property taxes, thereby waking people up to their corrupt locals and changing property laws on the state level
And with all of that, they STILL have a $2 TRILLION PER YEAR budget DEFICIT.
Let's break this down to what similar numbers would look like for an individual.
Total income: $40,000 per year ($4 trillion total fed gov't revenue)
Total expenses: $60,000 per year ($6 trillion fed gov't spending)
You have to borrow: $20,000 per year to make ends meet ($2 trillion fed deficit)
Now, you decide you will quit working and live on only your investment income.
Your job income is 93% of your $40,000, and your investment income is 7%.
So, now you have:
$2,800 per year income, but a
$60,000 per year spending habit
How do you balance these out?
Remember: You are also IN DEBT $350,000 ($35 trillion fed gov't total debt), and have maybe $2,000,000 in unfunded liabilities -- debts you WILL have, some day ($200 trillion fed gov't unfunded liabilities -- that they will admit to; it's probably much more).
So, how do you clean all that up on $2,800 per year?
Pay back private Central Bankers' debt-based money created from nothing with money created from nothing. Trump hinted at this. Monetize bitcoin as authorized Congress per Constitution. Pay off the debt present and future. All that debt goes "poof." Kind of like the old Hebrew 50-year Jubillee Year did. Repeal the Fed Res Act. Repeal the falsely-ratified 16th Amendment.
Freeze Congressional appropriations deflating the inflationary pressure of $ value of gold/ounce back to $2067 gold/oz.
Next freeze convertability of Fed Reserve note money then in circulation to $2067/oz gold. Issue new currency - United States Notes - valued at $20.67/oz gold denominated in US Notes. Effect price adjustment where Fed Res notes are made convertable at a rate of $1 US Note = $100 Fed res notes.
Re-denomination of assets takes place in terms of Treasury issued US Notes - backed by gold without debt accruing to private Central Bankers preserves the wealth of all as it re-orients the denomination of the US financial system.
Imagine 4-cents/gallon gas and spacious middle class affordable properties for $7K - 10k. Your $200,000/yr annual salary becomes $2000/yr but the money you have is actually valuable now, and no longer artificially inflated. Demands on one's income is also redenominated by a factor of 100x downward.
Result: very nearly pre-1913 era asset re-valuation with honest currency backed by gold at what was then the prevailing rate of $20.67/oz of gold and no more debt based currency + a debt free nation.
According to the bureau of economic analysis: "The average personal consumption expenditures (PCE) ("goods and services") per capita in the US in 2023 was $55,400."
A 5% federal tax on goods and services ("sales tax") would make up your hypothetical $2800 a year per person.
Since this would make up for the differences according to your numbers, no one would need to pay income tax.
This is before the massive savings on government spending brought about by Elon musk running the "government efficiency board" like an absolute boss.
The American people have been grifted to hell. When that comes to an end, and the economy is roaring like it never has before, 5% sales tax is not going to be a big deal.
It's doable and it's going to happen.
14% of total revenue comes from sales tax, which is already at 7.25%, but goes up to 10.25% in some cities (the cities can add on to the state amount).
Since 1/7th of all revenue comes from sales tax, California would have to go up to 50% sales tax if the entire revenue was supported by only sales tax.
Other taxes would be eliminated, though.
The real problem is that most states, and the feds, SPEND TOO DAMN MUCH MONEY.
The budgets need to be drastically cut, but politicians and welfare recipients (poor people, retired people, and corporations) will scream about it.
"Democracy" fails when 51% realize they can steal from the 49% via taxation.
(Yes, I know it is a republic, but the government employees have been ignoring that.)
You are correct, the president cannot do anything about state taxes. But Donald Trump has this way about him where he gets people to do things...
He will have so much popular support in the future that I believe most state governments will bow to his "suggestions" for fear of being branded losers.
In the future there will be sales tax.
There will be taxes on corporations.
There will be no filing of income taxes.
There will be no tax on inheritance.
As i see it, trump will eliminate income tax, causing the last remnants of the cabal to spike property taxes, thereby waking people up to their corrupt locals and changing property laws on the state level
Let's consider that.
Right now, the federal budget has revenues from these sources:
That's 93% of all revenue coming into the federal governent from "income taxes" (these are all based on "income," no matter what they are called).
The other 7% is from
https://www.taxpolicycenter.org/briefing-book/what-are-sources-revenue-federal-government
And with all of that, they STILL have a $2 TRILLION PER YEAR budget DEFICIT.
Let's break this down to what similar numbers would look like for an individual.
Now, you decide you will quit working and live on only your investment income.
Your job income is 93% of your $40,000, and your investment income is 7%.
So, now you have:
How do you balance these out?
Remember: You are also IN DEBT $350,000 ($35 trillion fed gov't total debt), and have maybe $2,000,000 in unfunded liabilities -- debts you WILL have, some day ($200 trillion fed gov't unfunded liabilities -- that they will admit to; it's probably much more).
So, how do you clean all that up on $2,800 per year?
See the problem?
cut spending and increase tariffs
Pay back private Central Bankers' debt-based money created from nothing with money created from nothing. Trump hinted at this. Monetize bitcoin as authorized Congress per Constitution. Pay off the debt present and future. All that debt goes "poof." Kind of like the old Hebrew 50-year Jubillee Year did. Repeal the Fed Res Act. Repeal the falsely-ratified 16th Amendment.
Freeze Congressional appropriations deflating the inflationary pressure of $ value of gold/ounce back to $2067 gold/oz.
Next freeze convertability of Fed Reserve note money then in circulation to $2067/oz gold. Issue new currency - United States Notes - valued at $20.67/oz gold denominated in US Notes. Effect price adjustment where Fed Res notes are made convertable at a rate of $1 US Note = $100 Fed res notes.
Re-denomination of assets takes place in terms of Treasury issued US Notes - backed by gold without debt accruing to private Central Bankers preserves the wealth of all as it re-orients the denomination of the US financial system.
Imagine 4-cents/gallon gas and spacious middle class affordable properties for $7K - 10k. Your $200,000/yr annual salary becomes $2000/yr but the money you have is actually valuable now, and no longer artificially inflated. Demands on one's income is also redenominated by a factor of 100x downward.
Result: very nearly pre-1913 era asset re-valuation with honest currency backed by gold at what was then the prevailing rate of $20.67/oz of gold and no more debt based currency + a debt free nation.
Without checking any of your numbers...
According to the bureau of economic analysis: "The average personal consumption expenditures (PCE) ("goods and services") per capita in the US in 2023 was $55,400."
A 5% federal tax on goods and services ("sales tax") would make up your hypothetical $2800 a year per person.
Since this would make up for the differences according to your numbers, no one would need to pay income tax.
This is before the massive savings on government spending brought about by Elon musk running the "government efficiency board" like an absolute boss.
The American people have been grifted to hell. When that comes to an end, and the economy is roaring like it never has before, 5% sales tax is not going to be a big deal.
It's doable and it's going to happen.
What about Capital Gains tax?
I aint in debt to jack shit. The morons who accrued it are deliquent. Not me.
I pay extremely close attention to the past and the present.
😺
He certainly does...
There already are sales taxes (in most states) and taxes on corporations (in most states).
Let's take California as an example:
https://www.next10.org/sites/default/files/2021-07/CBC-Revenue-May2021_0.pdf
14% of total revenue comes from sales tax, which is already at 7.25%, but goes up to 10.25% in some cities (the cities can add on to the state amount).
Since 1/7th of all revenue comes from sales tax, California would have to go up to 50% sales tax if the entire revenue was supported by only sales tax.
Other taxes would be eliminated, though.
The real problem is that most states, and the feds, SPEND TOO DAMN MUCH MONEY.
The budgets need to be drastically cut, but politicians and welfare recipients (poor people, retired people, and corporations) will scream about it.
"Democracy" fails when 51% realize they can steal from the 49% via taxation.
(Yes, I know it is a republic, but the government employees have been ignoring that.)