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Donald Trump eliminating income taxes might impact everyday expenses like the cost of gas
Donald Trump eliminating income taxes might impact everyday expenses like the cost of gas
By *Vegas
21 Jul 2024 10:29 am in No Holds Barred Political Forum
21 Jul 2024 10:29 am
I understand why Trump would want to do this, but I don't see how that will put more money in our pocket. Each market in our economy is not an island. What's done to one , cause a ripple effect to the rest, either directly or indirectly. For example, raising the min wage will put more money in to the worker's pocket in the short term. However, once the economy catches up to it, they will see how price are raised, which leaves the workers back to square one again. Eliminating income taxes would be great if it didn't effect other prices. Not just gas prices. We would only get more money in our pocket in the short term. Once the economy catches up to the change, we will be back to square one again.
And @Blackvegetable , since I always have to dumb **** down for you, the paragraph above ^^^ are thoughts of my own. The one below is the copy/paste. Above ^^^ my thoughts... below copy/paste. O'tay?
And @Blackvegetable , since I always have to dumb **** down for you, the paragraph above ^^^ are thoughts of my own. The one below is the copy/paste. Above ^^^ my thoughts... below copy/paste. O'tay?
https://www.msn.com/en-us/money/markets ... 4b80&ei=81While a lot of voters seem to want to blame the president for higher gas prices, there are a lot of factors that contribute to what you pay at the pump. You may be wondering how Donald Trump eliminating income taxes might impact everyday expenses like the cost of gasImpact of TariffsTrump has talked about potentially using tariffs to eliminate the federal income tax. A tariff is a tax levied on imported goods — a tax meant to level the playing field for domestic companies.Here’s something to keep in mind, while you may not pay federal income tax, you’ll likely pay more for things you use every day. Many economists, including those interviewed by Forbes, have said, “Everyday necessities, like clothing, food, and household goods, as well as significant purchases like electronics, vehicles, and equipment, will immediately increase in price.” Gas Price FactorsTo understand how it may affect gas prices, it’s important to know the main components of the retail price you pay. Higher Gas PricesIf Trump becomes president again and eliminates income taxes, you are likely to see at least slightly higher prices at the pump. Just like with other goods and services, prices will increase to offset the loss of income tax dollars.With tariffs, most companies face a higher cost of doing business. While it’s obvious that tariffs would increase the cost of imported goods, they are also almost certain to raise the costs of domestic ones. That’s because the demand would increase, putting a crunch on the supply and leading to higher prices.
In the case of gas costs, you could see how the tariffs and increased costs could affect all of the major components of the retail price. You’d likely have higher costs of crude oil, higher refining costs, higher distribution and marketing costs and potentially higher taxes to make up for the lost income taxes.
Blackvegatble's hypcorisy summed up in one post:
[/size]
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
21 Jul 2024 10:45 am
21 Jul 2024 10:47 am
Sure he did.PhiloBeddo » 21 Jul 2024, 10:45 am » wrote: ↑ How stupid are you? He never said eliminate income taxes.
Read the article
21 Jul 2024 10:52 am
21 Jul 2024 11:05 am
Former president Donald Trump recently suggested that he is considering instituting a policy of tariffs that would lead to the elimination of the federal income tax.
The Impact of Substituting Tariffs for Income Taxes
The concept of replacing income taxes with the revenue from tariffs also has short- and long-term impacts. In the short term, the ‘all-tariff’ plan would act as a consumption tax — a sales tax on steroids, if you will. Because the cost of a tariff is passed on to the consumer, and consumer prices will go up, consumers are paying more for everything they buy.
21 Jul 2024 11:08 am
PhiloBeddo » 21 Jul 2024, 10:45 am » wrote: ↑ How stupid are you? He never said eliminate income taxes.
He said he may consider it. Relax. Take a laxative.
Blackvegatble's hypcorisy summed up in one post:
[/size]
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
21 Jul 2024 11:08 am
Shut up, Phil.
Blackvegatble's hypcorisy summed up in one post:
[/size]
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
21 Jul 2024 11:09 am
I even copied it in the OP.
Blackvegatble's hypcorisy summed up in one post:
[/size]
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
21 Jul 2024 11:19 am
22 Jul 2024 1:16 am
22 Jul 2024 5:19 am
22 Jul 2024 5:50 am
And this **** is not worth reading.*Vegas » 21 Jul 2024, 10:29 am » wrote: ↑ I understand why Trump would want to do this, but I don't see how that will put more money in our pocket. Each market in our economy is not an island. What's done to one , cause a ripple effect to the rest, either directly or indirectly. For example, raising the min wage will put more money in to the worker's pocket in the short term. However, once the economy catches up to it, they will see how price are raised, which leaves the workers back to square one again. Eliminating income taxes would be great if it didn't effect other prices. Not just gas prices. We would only get more money in our pocket in the short term. Once the economy catches up to the change, we will be back to square one again.
And @Blackvegetable , since I always have to dumb **** down for you, the paragraph above ^^^ are thoughts of my own. The one below is the copy/paste. Above ^^^ my thoughts... below copy/paste. O'tay?
https://www.msn.com/en-us/money/markets ... 4b80&ei=81
It is the musings of a cretin.
22 Jul 2024 6:03 am
22 Jul 2024 7:18 am
I understand the necessary evils to live beyond the natural timing of life existing daily as each reproduction faces the eternal adapt or become extinct results time left between adapting in space one of a kind proportionately present in an ever changing form present and income taxes are a physical necessity to intellectual societal engineering a system of behavior beyond dog eats dog world order that currently is humanity educating great great grandchildren genetics cannot be the single source of eternally separated daily.
It has always been doing it in plain sight and every brain knows it inside out while intellectually covering it up outside in with reasonable doubt, plausible deniability, social consensus, laws ordering compliance by all 5 generation gaps alive or else.
It has always been doing it in plain sight and every brain knows it inside out while intellectually covering it up outside in with reasonable doubt, plausible deniability, social consensus, laws ordering compliance by all 5 generation gaps alive or else.
22 Jul 2024 10:30 am
Blackvegetable » 22 Jul 2024, 5:50 am » wrote: ↑ And this **** is not worth reading.
It is the musings of a cretin.
Like I would expect you to understand anything that is level 2+
Blackvegatble's hypcorisy summed up in one post:
[/size]
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
22 Jul 2024 10:30 am
Post the Level 2+ part.*Vegas » 22 Jul 2024, 10:30 am » wrote: ↑ Like I would expect you to understand anything that is level 2+
22 Jul 2024 10:31 am
You can't recognize it? Yeah, no surprise there.
And rule idiot, **** your demands or 3k greenies.
Blackvegatble's hypcorisy summed up in one post:
[/size]
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
22 Jul 2024 10:33 am
Your threads suck.*Vegas » 22 Jul 2024, 10:31 am » wrote: ↑ You can't recognize it? Yeah, no surprise there.
And rule idiot, **** your demands or 3k greenies.
22 Jul 2024 10:34 am
Prove that your opinion is worth a ****.
Blackvegatble's hypcorisy summed up in one post:
[/size]
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
Blackvegetable » 7 minutes ago » wrote: ↑7 minutes ago
Very simple questions...
From which you are running...
22 Jul 2024 10:35 am
This isn't about me...it's about your threads sucking.
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