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

[Ikari]

100% support this

the tax revenue from $150K or less lost would mean how much? really ??? in the grand scheme of things is it THAT much ? no, and adding a few trillion in debt? big frickin deal, national debt doesn't matter anyway anymore


https://usafacts.org/articles/who-pays-the-most-income-tax/

Most of the government’s federal income tax revenue comes from the nation’s top income earners. In 2021, the top 5% of earners — people with incomes $252,840 and above — collectively paid over $1.4 trillion in income taxes, or about 66% of the national total. If you include the top 10% — everyone who made at least $169,800 — that figure rises to $1.7 trillion, or 76% of the total.

The top 50% of earners contributed 97.7% of federal income tax revenue.

Yeah, Trump's current budget aims to add trillions to the deficit. Obviously MAGA doesn't care about debt.

 

[Econ4every1]

Trump's goal is to eliminate Income Taxes for people earning less than $150k per year.

Figures, I make $150,000.01

 

[Econ4every1]

Trump's goal is to eliminate Income Taxes for people earning less than $150k per year.

Seriously, Never happen, but it will become a popular talking point on the right that proves Trump cares about the middle class because he claimed it was his "goal" to eliminate taxes under $150k even though he'll only ever pay lip service to the idea.

The Trump administration’s attempts to replace income taxes with import taxes is more likely to.....

Drive prices up on the same people that don't have to pay taxes, replacing the income tax with import taxes that are passed on to consumers.

 

[Peter]

I would want a $150k a year reduction in our taxable income then.

Expect the leftoids to oppose this. If you actively avoid working then you're not paying taxes, so this policy won't benefit you.

Who is actively avoiding work?

 

[Peter]

The tariffs only 'cost' us if if the retards on the left manage to convince the other countries to dig in and fight and outlast Trump. To which I would say...well done...retards...you 'won'.

Are you saying the rest of the world can't think for itself and needs to be told what to do by Americans?

 

[JMR]

Judging by the expected response...further evidence to the supposition that if Trump ever comes out in favor of breathing, leftists are ****ed.

Trump has come out in favor of something he knows will never happen, but will keep you loyally on board.

 

[VanceMack]

Are you saying the rest of the world can't think for itself and needs to be told what to do by Americans?

Not at all. How could you possibly get to that conclusion. The rest of the world has done just fine with favorable trade deals and tariff agreements.

 

[Peter]

Not at all. How could you possibly get to that conclusion. The rest of the world has done just fine with favorable trade deals and tariff agreements.

The trade deals the US willingly signed.
Nobody forced the US to sign those deals.

 

[iguanaman]

Not really. The $5000 DOGE checks was a dumb idea (for obvious reasons). The idea to eliminate income taxes for those who earn less than $150k per year is an excellent idea IF tariffs can offset the loss in revenues from taxes paid by taxpayers earning under $150k/year.

At this time we really don't know if tariffs can generate the necessary revenues, or not - - the revised tariffs just started yesterday.



It's not retroactive, and you won't be getting any refunds - sorry.

Trump's tax cuts for the wealthy will a $4 TRILLION to the deficit. The tariffs will not pay for that either.

 

[iguanaman]

You've put the cart before the horse, here.

Trump's current tax bill does not include the proposal to end Income Taxes on people earning less than $150k per year.

That proposal hasn't been put to Congress yet.

And likely never will. Trump never follows through with what he tweets.

 

[Phys251]

Trump's goal is to eliminate Income Taxes for people earning less than $150k per year.

Eliminating taxes for people who earn less than $150,000 would effectively eliminate taxes for the vast majority of the country’s population.

Individual Income Taxes are the largest source of revenue for the U.S. government. So far in fiscal year 2025, individuals have paid $1.14 trillion in taxes, which is 51% of the total tax revenue collected, according to the Department of Treasury.

The Trump administration’s attempts to replace income taxes with import taxes is more likely to benefit high-income households rather than lower- or middle-income ones.

“We’re going to make a lot of money, and we’re going to cut taxes for the people of this country,” - Trump

source: https://moneywise.com/taxes/trumps-...-no-tax-for-people-making-under-150000-a-year

I just wish Trump would slightly raise the no-tax cutoff point to $162k/year.

This will be replaced by a tax hike on the rich and no national sales tax, right? Right?

 

[ColdHardTruth]

Figures, I make $150,000.01

Donate $20.00 from each check to charity.

 

[VanceMack]

The trade deals the US willingly signed.
Nobody forced the US to sign those deals.

I COMPLETELY agree with you. It was stupid...and went on for far too long...but ABSOLUTELY...we went along with them.

I dont blame others for willingly...eagerly...taking advantage of a relationship WE put in place. Its just time for those relationships to be renegotiated.

 

[Lovebug]

That's nothing but Trump dangling another shiny object.

 

[Lovebug]

Donate $20.00 from each check to charity.

Only $20?

 

[JohnfrmClevelan]

I COMPLETELY agree with you. It was stupid...and went on for far too long...but ABSOLUTELY...we went along with them.

I dont blame others for willingly...eagerly...taking advantage of a relationship WE put in place. Its just time for those relationships to be renegotiated.

Explain how you would like our trade relationships renegotiated, and how you think that will improve our economy.

 

[Econ4every1]

Explain how you would like our trade relationships renegotiated, and how you think that will improve our economy.

 

[SkyChief]

This will be replaced by a tax hike on the rich and no national sales tax, right? Right?

No. That's not right. Trump's plan is for tariffs (INDIRECT taxes) to provide the necessary funding so that federal Income Tax (DIRECT taxes) can be eliminated on people earning less than $150k/year.

Some people say it CAN be done - - some say it CANNOT be done. That's where we are at this point in time. Personally, I don't think that tariffs will provide the funding required to do this.

Seriously, Never happen, but it will become a popular talking point on the right that proves Trump cares about the middle class because he claimed it was his "goal" to eliminate taxes under $150k even though he'll only ever pay lip service to the idea.

It's not certain that tariffs will facilitate eliminating Income Tax on folks who earn less than $150k/year.

This will become apparent with time.

Drive prices up on the same people that don't have to pay taxes, replacing the income tax with import taxes that are passed on to consumers.

I'll admit - I don't object to driving up prices on the deadbeats who don't pay taxes.

 

[Phys251]

No. That's not right. Trump's plan is for tariffs (INDIRECT taxes) to provide the necessary funding so that federal Income Tax (DIRECT taxes) can be eliminated on people earning less than $150k/year.

Some people say it CAN be done - - some say it CANNOT be done. That's where we are at this point in time. Personally, I don't think that tariffs will provide the funding required to do this.

And thus we will need more taxes. We cannot just spending-cut our way out of this.

 

[BabaVoss]

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 ?

Who is paying the tariffs?

 

[VanceMack]

Explain how you would like our trade relationships renegotiated, and how you think that will improve our economy.

Exactly as it is being done now...with representatives sitting down to the table and working out fair trade agreements that are beneficial to the US, not simply blindly...mindlessly following old existing trade agreements.

And here's the ****ing comical part in all of this. All the rat politicians you people vote for said the same thing...and you cheered them...when it was the rats talking about the need to renegotiate trade deals. You only shit yourselves now because Trump is actually doing it.

 

[JohnfrmClevelan]

Exactly as it is being done now...with representatives sitting down to the table and working out fair trade agreements that are beneficial to the US, not simply blindly...mindlessly following old existing trade agreements.

And here's the ****ing comical part in all of this. All the rat politicians you people vote for said the same thing...and you cheered them...when it was the rats talking about the need to renegotiate trade deals. You only shit yourselves now because Trump is actually doing it.

That is not an explanation. I want you to explain how tariffs help our economy, and I want some reasoning behind your answer. For example, what does a 30% tariff on Chinese goods accomplish for the American economy? Are we going to start producing iPhones in America? Is American business doing more or less business in total than before trump started his tariff nonsense? When trump said that eliminating trade completely is a win because we had a trade deficit, do you agree with that reasoning?

 

[VanceMack]

That is not an explanation. I want you to explain how tariffs help our economy, and I want some reasoning behind your answer. For example, what does a 30% tariff on Chinese goods accomplish for the American economy? Are we going to start producing iPhones in America? Is American business doing more or less business in total than before trump started his tariff nonsense? When trump said that eliminating trade completely is a win because we had a trade deficit, do you agree with that reasoning?

No you don't. You want to cheer when democrats say its a good idea and shit yourself when Trump actually does it.






and on and on and on..........

 

[JohnfrmClevelan]

No you don't. You want to cheer when democrats say its a good idea and shit yourself when Trump actually does it.






and on and on and on..........

No, what I want is some evidence that you know what you are talking about when YOU cheer for anything trump does.

Just a few months ago, if you were to ask ANYBODY if tariffs were a good thing, 99.9% of people would have said, "Of course not." But when Dear Leader says that he loves tariffs, suddenly the back-of-the-class crowd loves tariffs, too, mostly because they think other countries are paying them.

So we run a pretty hefty trade deficit with China. Do you agree with trump that eliminating trade with China is a win because we are no longer "losing" money equal to the trade deficit?

 

[VanceMack]

No, what I want is some evidence that you know what you are talking about when YOU cheer for anything trump does.

Just a few months ago, if you were to ask ANYBODY if tariffs were a good thing, 99.9% of people would have said, "Of course not." But when Dear Leader says that he loves tariffs, suddenly the back-of-the-class crowd loves tariffs, too, mostly because they think other countries are paying them.

So we run a pretty hefty trade deficit with China. Do you agree with trump that eliminating trade with China is a win because we are no longer "losing" money equal to the trade deficit?

Trump made the same statement your puny rat gods have long made regarding trade imbalances and unfair trade agreements...and you agreed...then. I didnt disagree with them...and I dont recall parades of republicans making the same kinds of stupid attacks you people make when Trump makes the same statements. You are shitting yourself SOLELY because Trump is actually causing people to come to the table and negotiate deals.

You know it. So does everyone else.