Trump is intending to turn the tariffs into a sales tax to replace the income tax. This place a monumental amount of the tax load on poor and middle class Americans. The tariffs do not show up on your receipts or your tax return, but it is a huge economic burden nonetheless. If the republicans manage to make a case for getting rid of the income tax, it will be very difficult to reestablish it.
We cannot allow republicans to control the narrative on this. We need to stop talking about tariffs and taxes like they're two separate things. TARIFFS = TAXES. Repeat this over and over again on all media platforms.
Originally Posted By u/BeneficialNatural610 At 2025-04-27 02:04:23 PM | Source
We don't even need to tax all kinds of wealth. Personal property shouldn't be subject to a wealth tax. Your primary residence shouldn't be taxed, even if it is a huge mansion.
A securities tax would be ideal. Tax stocks, bonds, and other financial assets. The tax itself should be paid in shares of the security, not dollars. Transfer the shares to the IRS, who can liquidate them over time, such that liquidated shares are never more than 1% of total traded shares. Exempt the first $10 million held by a natural person. Beyond that, the tax rate should be 1/2 the inflation rate to $50 million, the inflation rate to $100 million, and twice the inflation rate above. that.
The idea is to push capital investment to the working class, rather than concentrating it in the oligarchical Problem Class.