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by api
4 hours ago
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One of my 2024 predictions was that Trump would push through the biggest tax increase in history, and that his anti-tax base would cheer it. (Deficit spending doesn't exist and tax increases aren't tax increases if a Republican is in office.) I thought the scenario would be "we're going to abolish income tax and implement a national sales tax or VAT!" but then the abolishing of income tax part never happens and we just get income tax plus national sales tax plus VAT. Instead he did it with tariffs. Don't know if it's the biggest tax increase in history but it's pretty sizable, and of course it's regressive. |
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