Page 730: The public finance literature is clear that a consumption tax would minimize government’s distortion of private economic decisions and thus be the least economically harmful way to raise federal tax revenues. There are several forms that a consumption tax could take, including a national sales tax, …
Regressive Taxation
Regressive taxes push the tax burden away from the rich. Tariffs have such a low effective tax rate for the top 1% as to be negligible. The more you make – the less you pay.
Example: Florida relies on consumption taxes and is the most regressive state for that reason. The rich pay 2.7% of their income and the bottom 20% pay 13% of their take home pay, after federal taxes, to pay for the state budget. 2.7% -vs- 13%. That is why the plan is to use consumption taxes, such as a “national sales tax” to push the tax burden squarely on we the people
Action Taken: Implementing Tariffs
Summaryand commentary
Trump is exceeding expectations due to this being a long term goal
- Trump did thy bidding for Project 2025 by implementing as many tariffs as possible
- Details:
Tariffs are a consumption tax. Revenue from a tariff has exactly the same impact as a national sales tax in that it is consumption tax at the national level.
- Details:
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