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October 25, 2024

Trump Floats Idea of No Income Taxes

We are going down the home stretch of the election and the promises by both candidates are starting to get out of control.

To that point, Trump is now floating the idea of no income taxes at all.

The former president suggested we go back to the time when the country relied on tariffs to generate its income.

Not Going to Happen

I have always vowed to be truthful with my readers, and realizing we have a lot of pro-Trump readers, I want everyone to realize this will never happen, not even close.

Trump has made a lot of promises on the tax front, such as not taxing service industry trips, social security, overtime, and now eliminating income taxes altogether.

Trump floated the idea on Fox News, stating, “It had all tariffs — it didn’t have an income tax.

“Now we have income taxes, and we have people that are dying. They’re paying tax, and they don’t have the money to pay the tax.”

Trump claimed there “is a way” he could make this happen if his plan comes together, but it is not remotely realistic.

The only part of the plan that has a chance is not taxing service workers, but that is only because Harris floated the idea as well, but even that is unlikely to happen.

Would it really be fair to the rest of the country if one segment was given tax-free income and not the rest of the country?

Trust me when I say that service workers who receive tips are already beating the tax man on the majority of their income, so giving them a completely free pass would just be a slap in the face to people who are paying the full freight on their incomes.

Not only is Trump’s plan not mathematically possible in terms of funding the country’s finances, but it would never get through Congress, and that is the ultimate test… can it be passed?

I really think Trump is making a huge mistake by putting comments like this on the record because while it may win him this election, it will cost Republicans dearly in 2028 if he cannot deliver on them.

Someone in party leadership needs to get in his ear and make him understand that this election is about far more than him winning… it is about the future of the party. If he keeps this up, Democrats are going to take back the White House in 2028, and we will be right back where we are today.

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