Donald Trump's list of income-tax solutions is better than we have now, but:
- A pre-emptive claim on the wages of a free people is immoral. Profits, wages, and return on investments are all private property, and there should be an amendment that abolishes all types of property taxes.
- Only the exchange of property should be taxed. The exception being when an employer pays (exchanges property) wages to an employee.
- What is the exchange of property? A sales tax. That tax should be (my guess) as follows:– 18 percent for state and local government, or a lower rate based on replacing a loss of revenue by eliminating property taxes (home and land).
– 15 percent federal.
– This estimated 33 percent rate (applied to all) is really a wash (prices same as today) with regards to USA-produced products due to a lower cost of production when corporations are taxed at 0 percent.
– This rate serves as a tariff on imported consumer items, which should inspire a rebuilding of our manufacturing base at home. We don't need these trade deals that we currently have. If someone desires a foreign product, they can pay more for it. Exactly the opposite of what we have now.