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73 sats \ 3 replies \ @Coinsreporter 14 Jun 2024 \ on: Trump proposes to eliminate income tax, replace with tariffs econ
Why not! There are countries which run on the same model. It should be applied as an experiment for 1 year.
This was USA before 1913.
The country relied on consumption tax and tariffs and excise taxes in 1789 to 1913.
Lincoln imposed an income tax during the civil war but his action was unconstitutional and the income tax was temporary
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But, they didn't change back to the pre 1913 conditions. See, this is politics!
The same has happened in India. In 1950 with the establishment of constitution, A temporary reservation in jobs and other benifits is given to some sects/castes here. But it's still going on. IDK, why? There's no need of it.
For income tax, I hold the view that it's unnecessary. Why? Because a state has control over all the natural resources falling under its territory. As we know that the state harness these resources and sell them internally or externally. The state, then, is more like a corporate that gets benifit from all of these and must use the money in development.
Instead they ask income tax, so as to enjoy their own luxuries. Needless to say what state sponsored expenses are there for politicians!
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Those countries don't have the largest governments in the history of the world.
I'm all for abolishing any particular tax, but spending is the main problem.
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