bitcoinbadger on Nostr: I love this math! ==== Well, the income tax currently costs the American people 2.4 ...
I love this math!
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Well, the income tax currently costs the American people 2.4 trillion a year.
Trump proposes to replace it wth tariffs of 20% on everybody but China, who gets a special 60% tariff that might bring in 900 billion given we import around 500 billion from China and 3.5 trillion from everybody else.
This would grow America's economy like rocket-fuel. I’d guess near-term 20% increase in the economy, so about a $15,000 raise for the typical family.
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https://www.profstonge.com/p/trump-want-to-abolish-the-income
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Well, the income tax currently costs the American people 2.4 trillion a year.
Trump proposes to replace it wth tariffs of 20% on everybody but China, who gets a special 60% tariff that might bring in 900 billion given we import around 500 billion from China and 3.5 trillion from everybody else.
This would grow America's economy like rocket-fuel. I’d guess near-term 20% increase in the economy, so about a $15,000 raise for the typical family.
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https://www.profstonge.com/p/trump-want-to-abolish-the-income