While Bidenomics continues with its same old, same old “bribe the young and illegal, tax the stuffing out of the middle class, and reward the corporate elites” policies, Trump is throwing out some interesting ideas to kick around in regard to the economy and how he would run his second term.
Trump’s economic plans include several fresh initiatives. You probably heard of his plan to end the taxing of tips for service workers. Tips are not wages. They are rewards from individuals. They are a nightmare to account for. And they help – very directly – people on low incomes. His suggestion is both kind and pragmatic.
Another suggestion is radical and hasn’t been tried since pre-1913 and the cataclysmic introduction of income tax. Before then, the USA relied on tariffs to fund a very small government. Trump’s suggestion of replacing income tax with income generated from tariffs suggests he is considering a massive cut in unnecessary government spending as there is no way tariffs could replace the $2T dollars currently strong-armed from the economy in taxes.
Let’s hope he means it. Cutting irrelevant spending is the best way to realign our economy and will allow us to focus on key needs such as infrastructure, social security, and rebuilding our military.
Shrinking the government might also give us back some personal liberty. There isn’t a bureaucrat in the land that hasn’t tried to insert their beak into our lives to score a tax, create an ordinance, or outlaw a common item or practice. Let’s take back personal autonomy. It’s time for the big federal agencies to be cut back or abolished to get them off our backs.
In Iowa last year, Trump threw out the suggestion he would start with the misnamed Department of Education which, incidentally, doesn’t educate a single child. “Just so you know, I am going to TERMINATE THE DEPARTMENT OF EDUCATION and move education back to the states”. Maybe next he can move on to ax the EPA and TSA, defund corrupt NGOs, and stop sending our money overseas to fund foreign wars and prop up international organizations that hate America.
In a less radical suggestion, Trump has mooted he will extend his 2017 tax cuts, which have now expired, and reduce corporate tax rate to 15% to make American goods and services competitive again. Modest as it is, it frees up more cash for individuals to spend and prevents it all being sucked up in the massive transfer of wealth to the mega-rich.
And Biden? Nothing new. More of being controlled by the Fed and the idiots that run it. More fake employment numbers that get downwardly corrected the following month. More crippling inflation. More expensive energy. More money to illegals. More ruinous wars to fund the military industrial complex. More money to Big Pharma.
Make him stop.