President Donald Trump is talking about abolishing Federal Income Tax.



I see benefits and disadvantages from doing so.

What do you think?

Keith

Not gonna happen.

Might see something on tips, talking about a $25,000 deduction. Tax on overtime and SS….you’ll keep paying on that.

Fair Tax? I think the bill has already been introduced.

Word is that Mckinnly funded the US with zero tax and all tariff funded, Then Roosevelt came along and spoiled it.

and just think I was optimistically excited just thinking about no taxes on overtime. That alone me would move that from the government into the markets and business investments. Average Joe will blow every dine they get so both are great for the economy.

Just switched jobs that gave me all kinds of overtime to no overtime. I don't mind because lot less stress and more family time, but I would have like to see what a few checks would have looked like without taxing me to death.

Never had property taxes either until the 50s or 60s but we do now.how much out of every dollar does the government take in taxes.income,sales,motor fuel,property the list goes on and on.

A RegularJoe who has saved will likely be able to retire ahead of scheddy if the stocks do as well in the next few years as they have since Election day.

Well, something needs to be done with taxes in this country. These tax laws for IRS and 401K retirement funds need to be looked. We are taxed to death and if they would give billions upon billions to other country's we would be better off and help us for once. America First!!

About time this gets talked about seriously. The government was capable of supporting itself prior to WW1, then a "war tax" was instituted and the feds realized they had a bunch of willing tax cattle to milk, and the taxes never went away

It's always hard to get freedom back once it's taken from you. It's best to never lose it.

Keith

I'd like to see no taxes on retirement pension.

That makes sense.

Taxes don't begin to cover what's spent anyway. Just add to the debt.

I guess I can't understand the push for no taxes on tips. Why should that income be exempted and other income not be?

Yep, exactly.

A flat % tax for everyone no more loops everyone owes x % on the money they make, no breaks for no one!!!

Even 9-9-9 couldn't get away with this. This would be a tax increase on half the U.S.

You are correct, but it would be nice if everyone had so.e skin in the game. If you tax SS, you should tax welfare.

This is what voters want, pay less taxes and get free crap. Pretty simple.