An economic analysis of the far-right Project 2025 agenda crafted by at least 140 former Trump administration officials shows that the plan would result in higher taxes on working-class Americans and lower tax rates for the rich and large corporations.
I’m not a money-ologist, so I can’t really argue for or against that (it does sound logical, though).
I just know that I’ve read over and over that getting rid of income taxes and replacing them with VAT/sales taxes are basically taxing the poor way harder than the rich. I don’t recall if taxing stock trades and such were factored into those.
oh yeah its not good as proposed in general and the ones who want it would never go for it apply to all transactions. I like to call it a transaction tax actually in that form. A similar thing I see on the other side is universal basic icome (which im for) but many who initially like it balk at getting rid of all other cash assitance (welfare, unemployment, social security, disability )
National sales tax looks fine on paper, but in effect, it’s just a flat tax which has been shown time and again to hit poor people harder.
well again not if you apply it to things rich people buy. 1% on every stock/bond trade would hit high wealth individuals hard.
I’m not a money-ologist, so I can’t really argue for or against that (it does sound logical, though).
I just know that I’ve read over and over that getting rid of income taxes and replacing them with VAT/sales taxes are basically taxing the poor way harder than the rich. I don’t recall if taxing stock trades and such were factored into those.
oh yeah its not good as proposed in general and the ones who want it would never go for it apply to all transactions. I like to call it a transaction tax actually in that form. A similar thing I see on the other side is universal basic icome (which im for) but many who initially like it balk at getting rid of all other cash assitance (welfare, unemployment, social security, disability )