Trump Proposes Eliminating Income Taxes For People Earning Less Than $150k/year.

[VanceMack]

It's because he lies all the ****ing time. After a while, you stop believing. It has zero to do with being a lib. Aren't you tired of all of the lying and shenanigans?

What the....how did you get out of the box?

 

[Econ4every1]

I asked it why the post office sucks, and it provided an answer with lots of claims for you to dispute.

So my question ends with:




This is the difference between you and I, I asked for an honest unbiased answer, you asked a biased question got EXACTLY what you asked for.

Only one of us knows how to have a debate in good faith, and it's not the guy asking why something sucks.

But just for fun, let's see if ChatGPT answers the question the way you claim.



As I figured. More bad faith.

Almost sounds like the Post Office is being sabotaged....Hmmmm....

 

[Econ4every1]

Your interpretation of things is rather....silly. Are you sure you are actually reading what you are posting about?

Or you lack the understanding necessary to evaluate my comment.

The conversation is about tariffs, so feel free to ask me a question about tariffs and I'll answer you directly.

 

[aociswundumho]

I asked for an honest unbiased answer,

There are no unbiased answers about political institutions, because the answer is always going to contain unstated assumptions and personal values. For example, the "universal service" of the post office is not a pro, it's a con, because the one size fits all pricing model for mail is ridiculously inefficient. If you live in Manhattan, charging you the same price to mail a letter to Westchester or to Alaska is completely and totally absurd. You, as an economist, should know this.

 

[VanceMack]

Or you lack the understanding necessary to evaluate my comment.

The conversation is about tariffs, so feel free to ask me a question about tariffs and I'll answer you directly.

Oh no...Im pretty sure its the former not the latter. You butted into a conversation you obviously werent following and then made a rather stupid interpretation of the comments. Pretty clear, actually.

 

[What if...?]

What do you consider their fair share?

I get hit for about 40% at my pretty decent income level.

So how about 40% of gross?

 

[What if...?]

My salary is less than $162k per year.



Makes sense.

I hope so. I've been an advocate for a National Sales Tax for years, now. But only IF the Income Taxes are eliminated entirely. . . for everyone.

Does that include all purchases? Stocks and bonds and stuff? Rental properties?

Everything I’ve ever seen says a national sales tax is regressive. That it impacts poorer people far more than rich people.

 

[Mulefoot]

I get hit for about 40% at my pretty decent income level.

So how about 40% of gross?

Ouch, no thanks. Throw in state/local/payroll, and the government gets more of your work than you do.

 

[What if...?]

Ouch, no thanks. Throw in state/local/payroll, and the government gets more of your work than you do.

I do know that both the vendor and the hotel (both owned by Black Rock) get more per hour than I do for an hour of my work and pay less in taxes. Get to write off all their expenses.

 

[ALiberalModerate]

It's not a totally shocking thing. Already 50% pay no income tax. If we can generate substantial tax revenue from tariffs, why not move that number up?

Because its an absurd idea.

Is the goal of tariffs to onshore more manufacturing? If so, as more manufacturing is on shored, tariff revenue will go down. Is the goal of tariffs to bring other countries to the table on trade talks? If so, obviously they are going to want to reduce their tariff during those talks.

 

[AZRWinger]

Must be your salary?

In any case, it's just another example of the confused fiscal policy of the Trump admin. I've been told this was about bringing manufacturing back to the US. So if that happens, then tariff income will decrease. Then what? A straight up national sales tax?

Bringing manufacturing back to the US means more corporate income tax from companies making products domestically. Given the emphasis on recapturing high tech manufacturing it's likely there will be an increase in jobs paying more than $150K meaning income tax liability.

Democrats like Nancy Pelosi love to tout food stamps, SNAP, as economic stimulus. But wages from a manufacturing job don't count because they don't foster government dependence.

 

[dmpi]

Because its an absurd idea.

Is the goal of tariffs to onshore more manufacturing? If so, as more manufacturing is on shored, tariff revenue will go down. Is the goal of tariffs to bring other countries to the table on trade talks? If so, obviously they are going to want to reduce their tariff during those talks.

Having an out-of-control trade deficit will eventually drain our country. When all the wealth is overseas buying up America we'll all be sorry. Maybe you don't mind having a Chinese boss and working for peanuts but I think this county deserves better. Thank God we have Trump that will actually do something about it.

 

[Mulefoot]

I do know that both the vendor and the hotel (both owned by Black Rock) get more per hour than I do for an hour of my work and pay less in taxes. Get to write off all their expenses.

If you don't mind me asking, what do you do for a living?

 

[What if...?]

If you don't mind me asking, what do you do for a living?

Union stagehand. Corporate and Theater.

 

[Mulefoot]

Union stagehand. Corporate and Theater.

That's awesome! Sounds like a cool occupation!

But I can't imagine you paying 40%, whatif. Not saying you don't make good money, but tippy-top brackets hit 37%.

 

[Slavister]

100% support this

the tax revenue from $150K or less lost would mean how much? really ???

Around 24% of overall revenue (based on source)

 

[ALiberalModerate]

Having an out-of-control trade deficit will eventually drain our country. When all the wealth is overseas buying up America we'll all be sorry. Maybe you don't mind having a Chinese boss and working for peanuts but I think this county deserves better. Thank God we have Trump that will actually do something about it.

That is a demonstrating a fundamental misunderstanding of trade. For example, you likely have a 100% bilateral trade deficit with your grocery store.

 

[stealthycat]

Around 24% of overall revenue (based on source)

not that significant really and when you turn around and put that 24% back into the economy ? I think its a no brainer to end income taxes under $150K

 

[Callen]

Having an out-of-control trade deficit will eventually drain our country. When all the wealth is overseas buying up America we'll all be sorry. Maybe you don't mind having a Chinese boss and working for peanuts but I think this county deserves better. Thank God we have Trump that will actually do something about it.

Trump has you fooled if you think this is about trade deficits. It's not, it's about establishing a 10% National import tax. Small countries can never consume products at the level the US does. To believe that is possible is at best naive. If this was about trade deficits why did he leave a 10% tariff on GB who you enjoy a surplus with?

 

[What if...?]

Bringing manufacturing back to the US means more corporate income tax from companies making products domestically. Given the emphasis on recapturing high tech manufacturing it's likely there will be an increase in jobs paying more than $150K meaning income tax liability.

Democrats like Nancy Pelosi love to tout food stamps, SNAP, as economic stimulus. But wages from a manufacturing job don't count because they don't foster government dependence.

Is this union or non union?

Seems I remember that union manufacturing jobs paid well but non union not so much.

Republicans don’t like unions because employers want to pay nothing. (Which is why they sent our jobs overseas when it became possible. See: Great Divergence)

I’m having a hard time seeing reshored manufacturing being a gig anybody would want. I did light manufacturing in a couple of my first jobs. Not a lot of fun. Didn’t pay great.

 

[SkyChief]

Does that include all purchases? Stocks and bonds and stuff? Rental properties?

No, just retail goods would be subject to the NST. Foods sold in the grocery stores would be exempt from a National Sales Tax, but your $71 filet mignon at the fancy restaurant WOULD be taxed.

Everything I’ve ever seen says a national sales tax is regressive. That it impacts poorer people far more than rich people.

Yes. I've heard that argument, too. It's a bad argument because poorer people buy less expensive products, so naturally their net NST would be substantially lower.

 

[What if...?]

That's awesome! Sounds like a cool occupation!

But I can't imagine you paying 40%, whatif. Not saying you don't make good money, but tippy-top brackets hit 37%.

I haven’t done the math. Could be 37%. Over a third of gross for sure. I don’t take deductions, I have a lot of employers and some gigs are short and not all are taxed as a result. So to avoid surprises I just let them take as much as they want.

 

[Econ4every1]

Oh no...Im pretty sure its the former not the latter. You butted into a conversation you obviously werent following and then made a rather stupid interpretation of the comments. Pretty clear, actually.

Sorry, all I'm seeing is your childish reply, do you want to debate the effectiveness of Trump's tariffs?

 

[CaughtInThe]

 

[What if...?]

No, just retail goods would be subject to the NST. Foods sold in the grocery stores would be exempt from a National Sales Tax, but your $71 filet mignon at the fancy restaurant WOULD be taxed.

Yes. I've heard that argument, too. It's a bad argument because poorer people buy less expensive products, so naturally their net NST would be substantially lower.

Well, as of now we don’t get to itemize anymore.

And then there’s capital gains. Businesses writing off all of their “living” expenses.

There’s something fundamentally wrong with paying more in taxes on the compensation for an irreplaceable unit of my finite life than a corporation or individual pays on money it makes off the profit from said irreplaceable unit of time.