Donald Trump has floated the idea of eliminating the federal income tax. In an interview with Meet the Press, his running mate, JD Vance, says the idea is not “realistic,” calling it an “aspirational goal.”
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#vance #trump #tax
Scamdemic Kamala Allah Aukbar
They want to eliminate taxes on tips, and make it so the owners can claim those tips “Read The Bill”… IE tax break for the rich… Trump wants to eliminate overtime all together sooo yes there will be no taxes on it…. Vote against the Corruplicans if you know whats good for you.
How there you to disrespect the most declarative military commander because of the truth no wonder why none of the service members not voting for you
I’m tired of the Democrats lies I voted Trump 🇺🇲
What they lie about
But you were perfectly fine with the Trump lies😂
If you have any sense – repeat lF – you’ll regret it.
This veteran not voting for trump because of his statements about the military and he doesn’t like over time, get your story straight vance.
The military sucks, and chumps join.
Lots of us could care less about your service or the military.
Donnie Bone Spurs = draft dodger deluxe. 💩💩💩
@@RebeccaPerry-Piper-u8x He retired with honor after a full career with the services.
Do you really think anyone’s going to fall for this @@RebeccaPerry-Piper-u8x
What did he say? You probably watch corporate media which take his words out context. Or you are a paid shill. Lots of my friends that are in or are now veterans love DJT. So, what did he say about the military that made you not vote for him?
Trump’s tariff-centric revenue policy would put the power of our purse in the hands of foreign countries, even as we the consumers pay the price. What’s to stop another country from imposing a trade embargo that cripples our Treasury? Trump says we should buy all American products, but all of our revenue will be collected from foreign products? Think about that for a second. It makes no sense! That is his “aspirational goal?” To invite other countries to manipulate our revenue? Come on, now.
KAMALA HARRIS2024💙🇺🇲
No, trump 2024
TRUMP 2024!!
Senator Vance has to use small words for this numb arz “journalist” to understand 😂
Nope. Vance doesn’t know big words.
Go back down in Mommy’s basement and play video games @@kirkdandie
@@kirkdandie Is that why he made Walz look like a knucklehead? (His own words?!)
No joke she was so annoying I would have just said next question you’re badgering
Actually the founding fathers taxed foreign governments
Impossible. You cannot tax foreign nations. Please explain how.
@@kirkdandie The Founding Fathers used several methods to tax foreign nations, primarily through tariffs and duties on imported goods. The Constitution granted Congress the power to impose tariffs, which were a significant source of revenue for the new government.
During the early years, these tariffs served to protect American industries and generate income. Additionally, treaties could establish trade terms, often including provisions for taxes on specific goods. The goal was to promote economic independence and strengthen the nation’s financial position.
@@kirkdandie that’s literally what a tariff is…
@@Bestbeanz No, it isn’t. Tariffs on goods imported into the U.S. are paid by *AMERICANS*.
I’ve been wondering how Trump wasn’t being laughed off the stage for his stupidity. Apparently, his cult followers also flunked civics.
That was way before we had a functioning military, social security, infrastructure etc. tariffs would never generate enough income to keep our country functioning and our us in a recession and I’m a registered REPUBLICAN
having to write an essay to explain what Trump actually said.. word gymnastics..
She has to be the worst interviewer just trying to get this gotcha moment that never works. Just awful.
Sorry, Mickey. It DID work. Maybe you missed it. 🤪
@@kirkdandie haha no. Sorry. The polls don’t seem to show that. Trump is running away with it. And a good chance he is plus 325. Yikes. This very well could be a landslide. Partly because of how bad your candidate actually is. Good try though. 😆
@@michaelmcdonald4471 you trust the polls, we’ll trust the vote. 😂
@@sidneyalberts2916 Just like in 2016 eh?
@@CoolguyTEB more like 2020, when he lost the election to Biden. 😉
keep living in the past. It’s all you have to cling to.
Solution: repeal The 2017 Trump Tax Cuts that mostly benefited the ultra wealthy and corporations 💰
Fun fact he’s more economically illiterate than a business man who managed to bankrupt 6 casinos, the great depression was triggered by raising trade tariffs
@@Shining237 United we Stand Divided we fall..stop dividing the benefit of rich and poor..a less taxed rich man can hire more
@@jeremysmith8035 A business bankruptcy is the law of the land. A fresh start. In the old days they called it the year of jubilee..all debts forgiven..it’s not a new concept. Those that owe more get more debt relief. China for example apparently the U.S. borrowed but they caused COVID and so what we owed them is now Jubilee.. reciprocal..so that debt we keep paying high taxes for..is over..or should be
Fun fact those tax cuts put hundreds of more dollars in my bank account every month and I was making 48k a year at the time. Actually anyone making under 100k got a tax cut of around 16 to 26 percent
Fun fact repealing that will bring back the $1k mandated fine Obamacare has in place for not having healthcare
Vance forced to sane-wash tRump’s adlibbed nonsense. 🤪
The great depression was triggered by raising trade tarrifs
was it? The USA was built on tariffs. Tariffs are a means of protecting domestic industry. The depression was triggered by over speculation on the stock markets that had nothing to do with tariffs
@@bullwinkle5445 Yup we had a surplus of money.. untill we started getting ride of tariffs in exchange for income tax. People just spew the nonsense they hear media outlets say. When I heard trump say that on rogan I instantly went and researched it. Tariffs do cause a small price increase untill the factorys are moved back onshore then the prices drop, so when he leaves office the prices should be back to normal if not lower with the added effects of jobs. I would love to see Detriot come back to life.
@@EnlistedBombin That’s assuming we don’t get into a tariff war, which we did under Trump’s administration and had to pump billions of dollars in failing industries like agriculture. We ran up a record deficit in the process which in turn slowly dragged us into an inflation. The pandemic at the end of his term also exacerbated the situation.
@@cyberpunked2077 Nope, the subsdies were not pumped highly until 2020, check the records. So your whole statement is built off a false premise. 2020 was the higest and at no point before did he ever go above historical highs. Running up the defecit in such a short time by both Trump and Biden was the cause of inflation. Do I think it would have gone as far under trump no.
Maybe if biden would subsidize some ag we would not be paying 100% more for eggs and milk just saying.
i didnt expect income taxes to go away congress wouldnt allow it.
You do realize they work for you, right?
They’ll allow it. They’d rather check out exactly what you spent your money on, rather than just how much you made, through a federal consumption tax. The federal income tax is fairly simple now (which definitely affects lower to middle class families) but if you get rid of that, you open the door for the federal government to scrutinize your consumption.
Ask yourself how the IRS will make sure they get their money. The IRS is not going away any time soon, unless we severely want to cut our funding for multiple sectors in our government. And no, it won’t be your least favorite sector that goes first.
Like Trump would do this!
I ♥️ JD Vance!!!
How do they it! Just lie through their teeth !
Trump!!
do you realize that the top 1% of tax payers pay 99% of the taxes and it is the excess that gives returns to people. It is called redistributing the wealth. Do not believe me look it up yourself. The government does not run on taxes. This is known as the deficient, taxes only pay the interest on the deficient. The government sells bonds (mostly to foreign counties like China) the notion that the government only spends income from taxes is silly. They hand out more in returns then they take in You could never tax people enough to cover what they spend. So thinking you could tax those that pay the most to solve the problem means you failed math
Income tax was introduced to temporarily fund WW1 and WW2 just fyi
Trump 2024
Vance 2028 ❤️🇺🇸❤️
Vance said its not realistic with a democrat congress. Media made it sound like he says he’s not backing Trump. Media are such liars.
fake news
No income tax equals Higher property taxes (unconstitutional anyway) Just another way for people to lose their homes.
I’m not a homeowner yet. I’d rather stack up the money they take from my check to save for a home.
Sorry to burst your bubble but all current home owners are mostly your grandparents or a home that got handed down thru your grandparents not many people are buying homes too many corporations own all the houses
Disgusting reporter
NBC and the rest of the rest of the media is getting desperate because the word salad is rapidly LOSING this election and EVERYONE knows it!
The speech Trump gave at Madison New York was amazing!! He said it’s time for Americans to get a break.. no over tax, no taxes on social security
Let him talk..
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I’m seeking to invest $200K across markets but don’t know where to start.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
@@JacobReynolds-t7v The reason I decided to work closely with a brokerage adviser ever since the market got really tense and the pressure became so much(I should be retiring in 17months) so I’ve had a brokerage adviser guide me through the chaos, its been 9months and counting and I’ve made approx. 650K net from all of my holdings.
@@FostersCapones How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
@@KarenDuncan-o5s “MARGARET MOLLI ALVEY’’ You can easily look her up, she has years of financial market experience.
@@FostersCapones Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible.
So what if he says he wants to cut taxes on overtime.
Most Americans don’t even get 40 hours a week. I m in minnesota and minnesota overtime is 48 hours a week. Again I say so what whoopee yahoo
Vance you should listen to your boss. He did not say anything about aspiration. With Donalds own mouth, He said he would do away with all federal income tax.
You’re fake news
And that would be awesome!!!!!
@@harleydad1975
How would that be awesome?? Our government won’t make enough off of tariffs, and our exports would be met with retaliatory tariffs. We would open the door of a federal consumption tax, and your spending (instead of your earnings) will be tracked, and scrutinized.
@zster8044 You seem to have Stockholm syndrome in my opinion.
You have to be a bot because you just made that up he did not say that. People keep asking HIM about it and he says yes he believes it’s possible. He has never said we are for sure doing this. You can not name a time or place he did or video.
Shes… special…
MAGA2024!! Say no to border Czar Kamala! Reject open borders! Save USA!!
The short answer is yes. Everybody would definitely enjoy having more money in their pockets by not having to pay federal taxes anymore. I’m all for tariffs. Let’s do it Trump and Vance. I totally support that great idea. 🇺🇸
Donald Trump has proposed a wide variety of tax policy changes. Taken together, these proposals would, on average, lead to a tax cut for the richest 5 percent of Americans and a tax increase for all other income groups.
If these proposals were in effect in 2026, the richest 1 percent would receive an average tax cut of about $36,300 and the next richest 4 percent would receive an average tax cut of about $7,200. All other groups would see a tax increase with the hike on the middle 20 percent at about $1,500 and the increase on the lowest-income 20 percent of Americans at about $800.
Greeting from Switzerland, good luck americans
@@SyrinxArcadianNymph
Tariffs are the absolute answer to cover the extreme spending our government has. Instead of cutting spending, we are going to remove ourselves from the world market with a costly tariff, and force other countries to build their own equipment and become the new leading trader in farming equipment and technology. Or, we could also just pay the high retaliatory tariffs on our exported equipment, and cause our American based companies to make little profit.
@@zster8044 Trump has offered several tax proposals, which are all included in these estimates: (Some of Trump’s proposals cut taxes dramatically, particularly his proposal to extend the temporary 2017 tax provisions. But his proposed tariffs, which would be largely passed onto consumers as increased prices, would more than offset those tax cuts for all income groups outside the richest 5 percent)
-Extending the temporary provisions in Trump’s 2017 tax law that will otherwise expire at the end of 2025, except for the $10,000 cap on State and Local Tax (SALT) deductions, which Trump says he would not extend
-Exempting certain types of income from taxes (overtime pay, tips, and Social Security benefits)
-Reducing the corporate tax rate from 21 percent to 20 percent and then further reducing it to 15 percent for “companies that make their product in America”
-Repealing tax credits enacted as part of President Biden’s Inflation Reduction Act that provide incentives for the production and use of green energy
-Imposing a new 20 percent tariff on imported goods, with a higher rate of 60 percent for goods from China.
@@travelingdude1621 @zester
Some of Trump’s proposals cut taxes dramatically, particularly his proposal to extend the temporary 2017 tax provisions. But his proposed tariffs, which would be largely passed onto consumers as increased prices, would more than offset those tax cuts for all income groups outside the richest 5 percent.
Trump has offered several tax proposals, which are all included in these estimates:
Extending the temporary provisions in Trump’s 2017 tax law that will otherwise expire at the end of 2025, except for the $10,000 cap on State and Local Tax (SALT) deductions, which Trump says he would not extend
Exempting certain types of income from taxes (overtime pay, tips, and Social Security benefits)
Reducing the corporate tax rate from 21 percent to 20 percent and then further reducing it to 15 percent for “companies that make their product in America”
Repealing tax credits enacted as part of President Biden’s Inflation Reduction Act that provide incentives for the production and use of green energy
Imposing a new 20 percent tariff on imported goods, with a higher rate of 60 percent for goods from China
the final, concrete result (very low margin of error, a few dollars) is what I wrote in the first message. Without propaganda ( by both Harris and Trump, every politician lies here and there to win the elections)
The government cam stand to stop taking a cut of everything. This way we keep all of our money due to no income tax. We stop buying foreign products due to the tarrifs so the government won’t get tarrif money either. Trump is different from greedy politicians who want all your cash.
Congress 😂😂😂 it’s time they work for us!!!
He’s not answering her question. Trump proposed eliminating the income tax, yes or no. Sounds like a no.
Well its not as simple as a yes or no don’t be naive you cant eliminate income tax over night.
He isn’t answering because he fundamentally disagrees with her question. What the reporter is trying to get him to answer is whether Trump will or will not eliminate federal income tax which Vance contends is 1) unrealistic and 2) not a primary objective for a Trump/Vance term.
And Trump didn’t propose that _he_ would eliminate income tax. What he actually argued was that a tariff-based tax system was better and that the U.S. once had such a system prior to the implementation of federal income tax. It’s inarguable that Trump, both in his first term and within proposals for his second term, has made large strides toward lowering federal income tax and increasing tariffs. As Vance states, it is an aspiration for their campaign, but not necessarily something they could or would achieve. While in ideological support of such a motion, Vance and likely also Trump don’t find it currently feasible.
IE: It is wrong to say Trump will eliminate federal income tax, but it would be antithetical to his objective to not seek to eliminate federal income tax. The actual answer to this question is neither yes nor no since it’s not a question the Trump campaign seeks to answer.
@@zettour.The U.S. had gold standard too. Are they going to reinstate that as well? The global socioeconomical landscape wasnt the same as pre federal income tax, which was more than 100 years ago. While the 2018 tariffs were on limited farmed goods, so the cost being passed down to the consumers would be greater and the government has less means to subsidize to compensate for the producers’ loss due to fewer sources of government revenue unless they are just going to issue bonds with increased debt ceilings.
@@FlyingKoreanMinja While I could, did I ever argue on either side of this issue which prompted this response?
Trump will say anything that makes you happy just like Dems.. He is a politicians not a statesman
Misleading title
Getting rid of the federal income tax would be a dream come true
You’d rather have a federal consumption tax? I don’t know about you, but I’d rather not have the IRS tracking what people do with their money. The IRS is not going away any time soon, and I’m fairly certain the government would still like a good portion of your money, and they will definitely make sure you don’t cheat the system.
But who is gonna pay money to military, employees and where do you think they will get money from?
For infrastructure
@@Abhinav-m4oTarriffs, exports and treasury bonds!! That’s how it was pre WW2
@@MC_Oluomo What do you think would happen with our exports, especially if we are putting tariffs on imports? Would our exports be met with similar tariffs?
With all of the things you mention, do you think our government would bring in enough money to completely replace income taxes? It sounds like a great dream, but our government spending is nothing like it was pre ww2.
You’re inviting in policies for a federal consumption tax that would bridge the gap, which would grow the IRS. And in turn, they’d look deeper into your spending, instead of your earnings.
@ Quality and Economic MOAT will prevail in our favor.
Regarding consumption tax and privacy. News flash bud, most transactions these days are digital. The government already knows what you spend your money on. I’m also a minimalist and very okay with a consumption tax.
Income Tax did not exist before 1913 … not constitutional … tariffs all the way
Neither did immigration restrictions
World was different back then
@@michaelhutchings6602they did exist you had to prove you’d be able to support yourself
Y’know we the consumers are the ones that get to pay extra when there’s tariffs, right?
@@mistyvaughn6356 you will pay a flat sales tax on non essential items. You pay a little more but you will also have more in the pocket because money is not being withheld from your paycheck. Being taxed on labor is unconstitutional. The taxes you pay every April go to pay interest on the money government borrowed to the federal reserve which is a private entity owned by families of bankers which creates money out of thin air. Time to wake up and do something else research. The treasury should have control of our money. Going back to gold back currency.
Actually by the law books taxes shouldn’t be in play unless the us is at war so why do we have taxes. Instead of taxing country’s for let shipping in our country that could pay our taxes. Really this is why the us has 1.2 million laws it’s to blind people from the truth. All other country’s has less than 50000 laws so theirs the truth
When the government relied on tariffs instead of income tax, its size was 3.5% of GDP. Today, its overall size in the economy is around 25%. The method of collecting taxes, whether through tariffs—which are passed down to consumers and can cause retaliation—or through income tax, is not the core issue. The real problem is the insanely high government spending and intervention in the economy. Allowing the government to dominate the economy and making the population dependent on it through excessive spending is a terrible idea. I’m speaking from experience 😔🇻🇪
The title of this video is a big lie, JD Vance said that with the current congress would be unlikely to pass the elimination of Income Tax. Please, NBC, try to be honest on your titles.
Misleading title
Vance needs to get up to speed!
Eliminate the unconstitutional income tax. The US had no income tax for the first 136 years.
So what? The US didn’t have a lot of things the first 136 years.
She is so rude and bitchy. I hate when people interrupt other people it’s very rude. How about be quiet and let him finish what he’s saying?
Obviously it wouldn’t happen overnight but why not put massive tarrifs and move manufacturing back to US. Sure things would be become more expensive short term but we would be able to regulate the emissions generated during manufacturing. Along with cheaper labor thats one of the main reasons things are made overseas. No pesky epa 😂
Income tax doesn’t make any sort of sense at all. Income tax is literally theft. Why is it that the government gets money 3 or 4 different times before it reaches me. That is theft.
Can we at least simplify the code for individuals? Implement a low flat tax and be done with it?
Vance/Ramaswamy ’28 🇺🇲🇺🇲
The government can stand to stop taking a cut of everything. This way we keep all of our money due to no income tax. We stop buying foreign products due to the tarrifs so the government won’t get tarrif money either. Trump is different from greedy politicians who want all your cash.
Haha clown world
A positive vision.
Use tariffs to fund the shortfall.
Reagan tried to get rid of the income tax. LOOK what happened to him! The FED won’t give up their utopia without a fight.