Trump’s nonsensical claim he can eliminate $19 trillion in debt in eight years

[Zippyjuan]

Trump says he won't raise taxes, instead he'll just get rid of the bad deals and make good deals.

Then he will have to cut 100% of spending but keep all taxes over the next eight years. Or maybe he will get Mexico to happily pay for it. Or he could impose 300% tariffs on everything we import (including food and energy).

 

[SpiritOf1776_J4]

Essentially, we would be relying on excises and imposts.

I much prefer this method of taxation to income tax, because it gets the government out of the hair of most Americans, and keeps the irs from generating records that would make big brother green with envy.

The argument being used here is the increase in costs of goods is more then offset by the benefit to jobs and manufacturing here - and there is already government imbalance in trade caused by special intervention of the other government.

Eventually, you could eliminate internal taxes and abolish the irs this way.

 

[Zippyjuan]

Essentially, we would be relying on excises and imposts.

I much prefer this method of taxation to income tax, because it gets the government out of the hair of most Americans, and keeps the irs from generating records that would make big brother green with envy.

The argument being used here is the increase in costs of goods is more then offset by the benefit to jobs and manufacturing here - and there is already government imbalance in trade caused by special intervention of the other government.

Eventually, you could eliminate internal taxes and abolish the irs this way.

To balance current spending, you need at least a 200% tariff on all imports- including food and oil. That means things will cost three times as much. Then imports plummet and the rate has to be increased even more. Meanwhile it will take many years if not decades to start producing everything we consume. At the same time, our trading partners also apply similar tariffs to what they buy from us- basically putting all of our exporting companies out of business and costing thousands of jobs. Those will be gone almost immediately while it will take ten years or more to start making what we used to import and find jobs for those who just lost them. It would have a devastating effect on our economy.

 

[SpiritOf1776_J4]

There is no difference in generating a tax directly or taxing goods, which comes back to the consumer - other than the obvious way of avoiding that tax by avoiding imported goods.

Until the 20th century, the majority of taxes in America were imposts and excises.

Before the Federal Income Tax
The tax mechanisms used during first 150 years or so of U.S. tax history bears little resemblance to the current system of taxation. First, the U.S. Constitution restricted “direct” taxation by the federal government – meaning taxes directly on individuals. Instead, the federal government relied on indirect taxes including taxes on imports (tariffs) and excise taxes.

http://www.eoearth.org/view/article/153529/

Socialists have traditionally hated that type of taxation, wanting direct taxes instead. After we got what they wanted, we got the socialistic system we currently have.

I'm not at all surprised Donald Trump wants to go back to imposts and excises.

 

[SpiritOf1776_J4]

Of course, we could require all the countries to pay for their protection. We could make 19 trillion easy that way.

#protectionracket, #wereinthemoney

 

[SpiritOf1776_J4]

19 trillion, no problem. Have it for you in the morning!

 

[Ronin Truth]

It's doable, just not by Trump.

 

[thoughtomator]

So it turns out that Trump's answer to how he would do it is "sell off all government-owned properties" to pay down the debt.

This should be a familiar idea to anyone who didn't show up here for the first time yesterday.

 

[SpiritOf1776_J4]

So it turns out that Trump's answer to how he would do it is "sell off all government-owned properties" to pay down the debt.

This should be a familiar idea to anyone who didn't show up here for the first time yesterday.

He's listed several ideas.

He's also listed imposing imposts extra tariffs on countries with unfair trading practices by their governments.
Making countries pay for our military help, or removing the unnecessary military - that includes getting rid of nato and the un.

All also ideas that have been discussed many times - but not by a candidate about to win the GOP nomination.

fyi - selling western land would make many states happy.

 

[CPUd]

many many bad deals trump want good deals make america great

 

[luctor-et-emergo]

He's listed several ideas.

He's also listed imposing imposts extra tariffs on countries with unfair trading practices by their governments.
Making countries pay for our military help, or removing the unnecessary military - that includes getting rid of nato and the un.

All also ideas that have been discussed many times - but not by a candidate about to win the GOP nomination.

fyi - selling western land would make many states happy.

What exactly are unfair trading practices ?

 

[CPUd]

THEY DEVALUE THEIR CURRENCY!

 

[SpiritOf1776_J4]

Trump didn't get to be a multi billionaire by making bad deals.

 

[CPUd]

No, he bought politicians with his daddy's money.

 

[Ronin Truth]

No, he bought politicians with his daddy's money.

Didn't I hear that he paid his Dad back for his loans?

 

[SpiritOf1776_J4]

No, he bought politicians with his daddy's money.

His father was nowhere close to being a billionaire - let alone a multi-billionaire, and he didn't die and leave an inheritance until 1999 - split among many siblings.

 

[SpiritOf1776_J4]

Didn't I hear that he paid his Dad back for his loans?

sure you did. A few people on here decided to go hardcore marxist a few months back, and just keep repeating the same stuff over and over again. If you repeat it enough "it becomes true", in their fantasy realm.

 

[Zippyjuan]

There is no difference in generating a tax directly or taxing goods, which comes back to the consumer - other than the obvious way of avoiding that tax by avoiding imported goods.

Until the 20th century, the majority of taxes in America were imposts and excises.


http://www.eoearth.org/view/article/153529/

Socialists have traditionally hated that type of taxation, wanting direct taxes instead. After we got what they wanted, we got the socialistic system we currently have.

I'm not at all surprised Donald Trump wants to go back to imposts and excises.

Tariffs hide taxes so people don't see the costs of government they have to pay. The cost of the tax is hidden in the price of goods. Even non- imported goods are more expensive with tariffs because domestic industry does not have to worry about any foreign competition to lower their costs and prices. The more hidden taxes are, the less people will complain about them and the easier it is to raise them too. With income tax filing you get to see how much you are paying.

 

[SpiritOf1776_J4]

Tariffs hide taxes so people don't see the costs of government they have to pay. The cost of the tax is hidden in the price of goods. Even non- imported goods are more expensive with tariffs because domestic industry does not have to worry about any foreign competition to lower their costs and prices. The more hidden taxes are, the less people will complain about them and the easier it is to raise them too. With income tax filing you get to see how much you are paying.

And yet, we have higher taxes now than at any time in our history. For the first hundred and fifty years, we relied almost exclusively on tariffs.

It was progressive socialists that fought to implement the income tax - and lo and behold, it's the income tax that ushered in the socialist era.

The tax mechanisms used during first 150 years or so of U.S. tax history bears little resemblance to the current system of taxation. First, the U.S. Constitution restricted “direct” taxation by the federal government – meaning taxes directly on individuals. Instead, the federal government relied on indirect taxes including taxes on imports (tariffs) and excise taxes. Tariffs were the major source of U.S. government receipts from the beginning of the nation up to the early 1900s.

The Ten Planks of the
Communist Manifesto
1848 by Karl Heinrich Marx
2. A heavy progressive or graduated income tax.

Federal Mafia: How It Illegally Imposes and Unlawfully Collects Income Taxes
Irwin Schiff - 1992

 

[r3volution 3.0]

Trump's dumb, but he's not dumb enough to believe that renegotiating some trade deals would increase tax revenues by $19 trillion over 8 years.

...but his worshipful followers are more than dumb enough to buy it, which is why he's selling it.

So, here we are.