Post
Topic
Board Politics & Society
Re: DeSantis Vows to Abolish IRS, Advocates Flat Tax in Presidential Bid Amidst Stif
by
Hispo
on 06/02/2024, 10:32:12 UTC
This came at the tail end when he knew it was a lost cause and was forced to say outlandish things as a last ditch effort.
by outlandish you mean "not a good idea" or "an idea with merit but probably wont happen"?

Quote
Ted Cruz recited the same lines in 2016.
they should be held accountable for saying things and not following through. especially if they get into office. there should be a stiff penalty. Shocked

Quote from: Hispo
The United States is a country which tries to keep their annual inflation at 2%, printing more buck for them not to tax people would make inflation to go up way beyond those 2 percent.
but people would keep all their money. imagine how much more money people would have in their bank accounts. plus no more complicated tax returns. priceless

Well. Actually, it is true people would not need to calculate anything on how much they are supposed to pay, that is true. But it would not be worth it, in my opinion, not in the long term. The goverment would need to print more banknotes than they initially planned, leading to a higher inflation, higher than expected by consumers and producers. Because of it, even if people managed to have more money, they would not keep it in the bank or in cash, they would try to out smarth the inflation rise and money their savings and assets to stocks, gold, or cryptocurrency, before inflation consumed all their value, that movement added to the printing of money by the government could easily make the United States Dollar to lose its credibility even among the people living there, it would mark the end of the American FIAT, in my opinion. And we all know that is not something which the Federal Reserve wants to happen in the United States.

It would be a very high price to pay for people not to ever to have to pay taxes again.