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99 sats \ 15 replies \ @grayruby 20 Feb \ on: Can we really, finally, be nearing the end of the IRS? econ
That would be pretty wild.
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119 sats \ 14 replies \ @Undisciplined OP 20 Feb
The way things are moving really does feel different. I could see this happening.
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185 sats \ 10 replies \ @grayruby 20 Feb
I think the bond market will have something to say about this.
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40 sats \ 0 replies \ @kepford 20 Feb
Indeed
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40 sats \ 8 replies \ @Undisciplined OP 20 Feb
If there's a credible replacement plan for the revenue, then it shouldn't matter. If that includes removing capital gains taxes, then there should be more bond demand.
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21 sats \ 7 replies \ @grayruby 20 Feb
Markets don't like uncertainty. Hard to imagine they will view anything as a credible replacement plan until proven to be credible. A mass sell off in the US bond market will derail those plans very quickly whether credible or not.
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40 sats \ 6 replies \ @Undisciplined OP 20 Feb
That's fair and very plausible. Of course, I think they should just default on the national debt, so it's not much of a reason not to do something in my book.
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25 sats \ 5 replies \ @grayruby 20 Feb
26T of federal debt is held domestically. That would be a fun day when that all gets written to zero.
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81 sats \ 2 replies \ @kepford 20 Feb
The issue is, where will the money come from to pay for all the spending in place and new spending Trump has planned.
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64 sats \ 1 reply \ @Undisciplined OP 20 Feb
There was a post earlier today (#891768) about that.
The basic idea is to replace most of the current taxes with a 23% sales tax, with a household rebate to offset how regressive that would be.
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124 sats \ 0 replies \ @kepford 20 Feb
Wild time to be alive. A lot of people are hurting financially. We've been gas lit for 5 years about how bad it is.
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