Topic: Trump Hints at Eliminating Federal Income Tax--How He'd Replace The Tax Revenue (Read 42 times)
October 29, 2024, 01:10:18 AM
I’m a little worried that Trump is making promises he won’t be able to keep. If he does manage to get rid of income taxes though, he will no doubt go down as the greatest United States President of all time. Next he’ll go after the Federal Reserve while Elon tackles government overspending. The future is looking bright…
October 26, 2024, 02:32:33 PM
Now we have a chance to watch what might happen if Trump shuts down the Federal income tax. I mean, if shutting it doesn't work, can't Milei or Trump start it back up?
Milei Shuts Down Argentina's Tax Agency
https://reason.com/2024/10/22/milei-shuts-down-argentinas-tax-agency/
Argentine President Javier Milei announced plans to shut down the country's tax collection agency, a bold step in his ongoing effort to slash government spending and bureaucracy.
On Monday, presidential spokesperson Manuel Adorni confirmed that the Administración Federal de Ingresos Públicos (AFIP), Argentina's tax bureau, will "cease to exist." It will be replaced by a newly formed agency, the Agencia de Recaudación y Control Aduanero (ARCA), which will assume some of its functions.
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Javier Milei's government is once again using the chainsaw, in this case announcing that they will dissolve the AFIP (Federal Tax Collection Agency) and that instead they will create a smaller agency, reducing directors' salaries by 90% and firing a third of the staff.
Milei Shuts Down Argentina's Tax Agency
https://reason.com/2024/10/22/milei-shuts-down-argentinas-tax-agency/
Argentine President Javier Milei announced plans to shut down the country's tax collection agency, a bold step in his ongoing effort to slash government spending and bureaucracy.
On Monday, presidential spokesperson Manuel Adorni confirmed that the Administración Federal de Ingresos Públicos (AFIP), Argentina's tax bureau, will "cease to exist." It will be replaced by a newly formed agency, the Agencia de Recaudación y Control Aduanero (ARCA), which will assume some of its functions.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Javier Milei's government is once again using the chainsaw, in this case announcing that they will dissolve the AFIP (Federal Tax Collection Agency) and that instead they will create a smaller agency, reducing directors' salaries by 90% and firing a third of the staff.
- OFFICIAL STATEMENT
City of Buenos Aires, October 21, 2024.- The Office of the President informs that, within the framework of the reduction of the State and the elimination of inefficient structures, it will proceed to dissolve the Federal Administration of Public Revenues (AFIP).
The Agency for Collection and Customs Control (ARCA) will be created, an organization with a simpler, more efficient, less costly and less bureaucratic structure. This measure will reduce the number of senior authorities by 45% and the lower levels by 31%, which represents an elimination of 34% of the current structure, generating an annual saving of 6.4 billion pesos.
Likewise, 3,155 agents who entered the AFIP irregularly during the last Kirchner government will be dismissed, which is equivalent to 15% of the current staff. This step is essential to dismantle the unnecessary bureaucracy that has hindered the economic and commercial freedom of Argentines.
On the other hand, as the start of the management of the new ARCA, the Hierarchy Account for senior officials will be eliminated, reducing the salary of the head of the entity, from approximately 32 million to the amount currently received by a Minister of the Nation, around 4 million. The same will occur with the salaries of the Directors of the General Tax Directorate (DGI) and the General Customs Directorate (DGA), who currently receive 17 million and will receive a salary comparable to that of a Secretary of the Nation.
The creation of ARCA has as its objective the reduction of the State, the elimination of unnecessary positions, the professionalization of the entity, the destruction of corrupt circuits, and the improvement in the efficiency of collection and customs control, eliminating the privileges of the past and optimizing public management.
The ARCA management will be in charge of Florencia Misrahi, who will lead this process together with Andrés Gerardo Vázquez, who will assume the position of head of the DGI, and José Andrés Velis, the new head of the DGA. Vázquez, a graduate in Business Administration and a Public Accountant, has more than 30 years of experience in the General Tax Directorate. For his part, Velis has extensive experience in the General Customs Directorate and has been responsible for the development of key computer systems such as the Malvina system.
Office of the President of the Argentine Republic
October 25, 2024, 05:13:05 PM
It's coming around again. Trump has a plan that would work to eliminate the Federal Income Tax. It's a plan the nature of which makes it impossible for the Dem Deep State to implement or duplicate.
Gotta do it now, before BRICS replaces the USD as the world currency.
Trump Hints at Eliminating Federal Income Tax--Explains How He'd Replace The Tax Revenue
https://www.thegatewaypundit.com/2024/10/trump-hints-eliminating-federal-income-tax-explains-how/
First, he proposed no tax on tips, then no tax on overtime for hourly workers, and now, the man who connects more with the lower, middle, and upper earners than any President in recent history, is talking about giving every American the biggest tax break they've ever experienced—NO tax—at least no federal taxes.
Earlier this week, President Trump stopped by a Bronx barbershop with Fox News personality Lawrence Jones. There, he talked about inflation and taxes with the all-male clientele, barbers, the barbershop's owner, and his father.
One male barber asked President Trump, "Do you believe that at some point and time, once the country's back on its feet, and getting enough revenue, and paying off our debt, do you think it's possible to find a way to eliminate federal taxes?"
Trump said," There is a way! There is a way!" he repeated, explaining, "You know, in the old days, when we were smart, a smart country—in the 1890s, our country was relatively the richest it ever was." He continued, "It had all tariffs; it didn't have an income tax."
"Yes, sir," the barbershop customer replied.
"Now we have income taxes, and people, they are dying! They have taxes and don't have money to pay their taxes. You know, in the old days, 1890 and 1880, we had so much money, they had to set up committees, blue ribbon committees—how to spend our wealth!" Trump explained to his audience at the impromptu barbershop town hall.
"We had no idea how to spend it; it was so much money!" he exclaimed. "Then we went to the income tax system, and the rest is sort of history," Trump said, adding, "But no, there is a way——If what I'm planning comes out—" President Trump said, as he paused to compliment the barbershop customer, "That's a great question, by the way," he said, adding, "You're a pretty sophisticated cat!"
The barbershop customer who asked the question responded, telling President Trump, "Everyone could attaint the American dream if it wasn't for the burden of high taxes. And we tax it every step of the way, when we make it, and when we spend it!" Trump interrupted, "And regulations!" adding, "So, I cut more regulations in four years than any other president!"
...
Gotta do it now, before BRICS replaces the USD as the world currency.
Trump Hints at Eliminating Federal Income Tax--Explains How He'd Replace The Tax Revenue
https://www.thegatewaypundit.com/2024/10/trump-hints-eliminating-federal-income-tax-explains-how/
First, he proposed no tax on tips, then no tax on overtime for hourly workers, and now, the man who connects more with the lower, middle, and upper earners than any President in recent history, is talking about giving every American the biggest tax break they've ever experienced—NO tax—at least no federal taxes.
Earlier this week, President Trump stopped by a Bronx barbershop with Fox News personality Lawrence Jones. There, he talked about inflation and taxes with the all-male clientele, barbers, the barbershop's owner, and his father.
One male barber asked President Trump, "Do you believe that at some point and time, once the country's back on its feet, and getting enough revenue, and paying off our debt, do you think it's possible to find a way to eliminate federal taxes?"
Trump said," There is a way! There is a way!" he repeated, explaining, "You know, in the old days, when we were smart, a smart country—in the 1890s, our country was relatively the richest it ever was." He continued, "It had all tariffs; it didn't have an income tax."
"Yes, sir," the barbershop customer replied.
"Now we have income taxes, and people, they are dying! They have taxes and don't have money to pay their taxes. You know, in the old days, 1890 and 1880, we had so much money, they had to set up committees, blue ribbon committees—how to spend our wealth!" Trump explained to his audience at the impromptu barbershop town hall.
"We had no idea how to spend it; it was so much money!" he exclaimed. "Then we went to the income tax system, and the rest is sort of history," Trump said, adding, "But no, there is a way——If what I'm planning comes out—" President Trump said, as he paused to compliment the barbershop customer, "That's a great question, by the way," he said, adding, "You're a pretty sophisticated cat!"
The barbershop customer who asked the question responded, telling President Trump, "Everyone could attaint the American dream if it wasn't for the burden of high taxes. And we tax it every step of the way, when we make it, and when we spend it!" Trump interrupted, "And regulations!" adding, "So, I cut more regulations in four years than any other president!"
...
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