Looks like The bill to abolish the income tax in the US has been introduced!...
"H.R.25 - To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily..."
(www.congress.gov)
Let's GOOOOOOooo
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Capitalism is the engine that will drive everything. We can make cars in the USA cheaper than made elsewhere. Volume production results in lower prices.
While people are paying REDUCED taxes, you employ more people. Like I said, it's going to be a balancing act as we transition from an income tax, to lower taxes and Gov't funding via tariffs.
Nobody knows for certain what is coming, or where the new equilibrium will be - so I would rather a soft landing, over a hard landing.
Unemployment rate in the US is only 4%. Now that we're finally getting rid of illegal immigrants, we're going to have a ton of job openings coming up.
Do you really think that extra 4% of potential employment will make a big enough difference where we will be having more people working in order to pay less taxes? If we no longer have an income tax, what does it matter if we have more people making an income?
Earlier you said we would eventually be paying zero taxes.
If we're not going to have an income tax, and we're no longer paying as much in tariffs, where will the government be getting money?
What if we start doing so well in bringing manufacturing back that we end up having a worker shortage and have to start giving visas to foreigners just to start the whole illegal immigrants thing over. The majority of illegal immigrants in the US came over here legally on work, tourist, or school visas, and didn't go home when they expired, thus becoming illegal.
Do you see how what you're saying here is inconsistent and confusing?
You make sense. Glad you are here.
There are so many variables, that I am suggesting a slower transition. I expect automation to become much more prominent in the factories - including Optimus doing many repetitive operations (as well as home care, food prep, essentially replacing low skill and repetitive jobs).
As we produce more, and compete; the materials we do import (via tariffs), should decrease due to self-sufficiency. I would expect at some point a transition to export tariffs would also transition in - you are right, we are cutting a lot of gov't waste; but the Gov't has to be continuously fed. It's going to be interesting.