"Just think for a minute with your take home pay. Where gross would only be slightly higher than net. What would happen? For many, the term unaffordability would never again be used. Our economy would take off like a rocket. But the statists in Congress who love to spend our money? Too bad, so sad. Now go suck an egg."
Did you hear the good news? Gas is now under $3/gal nationwide. Of course, that is an average. I am still seeing some stations in our area that are as high as $3.15/gal. But then again, we are Minnesota. The outlier. Another piece of news is the Fed is having their last meeting today for 2025. Even though Trump has called them every name in the book for not acting quicker, it is only a 50/50 chance that we will get another 1/4 point of relief. Big hairy deal.
What is President correct on? First and most important, is what caused this runup on prices to start with. Joe Biden - or should I say Biden and the autopen. Whatever. The immutable fact on why prices went up an average of 20% when Biden was POTUS was nobody had a clue on how to run the economy. They did, however, know how to ruin the economy. Even with the globalist utopia of almost total offshoring, prices continued to rise. Why? The old economic truism - too much government money chasing too few goods. Throw in the fact the Fed was late to the party. Result - sky high prices coupled with sky high interest rates.
Now that Trump has been in office less than a year, some things have improved. And many have not. Is Trump not aware of the many which have not improved? Keenly aware - and he and his team are working on them. But Biden and his team have broken this finely tuned watch. Trump and his team, even though skilled at putting broken watches back together, know that some parts of the watch, more so than others, take longer to fix. Bottom line? As was said in the TV show Kung Fu, "Patience grasshopper".
Many think that tariffs are the pathogens which are causing our current "unaffordability" crisis. Wrong. Trump is an old-time economist. Pre-income tax thinking. In Trumps way of thinking, tariffs done right could replace the income tax that many of us struggle with. He has mentioned that more than once. Not just lowering the income tax - getting rid of it. I mean, it is not like income tax is tattooed on our foreheads - it has only been with us since 1913. Time for this POS to go bye-bye.
Just think for a minute with your take home pay. Where gross would only be slightly higher than net. What would happen? For many, the term unaffordability would never again be used. Our economy would take off like a rocket. But the statists in Congress who love to spend our money? Too bad, so sad. Now go suck an egg.
The simpler solution is to pass the FAIR tax, the first stipulation of which is that the income tax, excise tax, estate tax, gift tax and Social Security taxes are all eliminated. You take home 100% of your gross pay (unless you have employer benefits), and pay for necessary government through a retail sales tax, so YOU control how much tax you pay by how much you spend. Social Security and Welfare are automatically reformed, the economy skyrockets, and tariffs can be reduced with the same resulting balance-of-trade benefit. Tax loopholes and cheats disappear.
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