I admit this caught me by surprise. The fam, including me, are all fighting a virus that just doesn't want to go away, my company is finishing a new system implementation, and I really missed the talk about abolishing the IRS.

Looks like Trump means to do it, which raises some questions as well as possibilities.

I know there is a lot of talk about tariffs paying for everything, but there are other ways to fund the government. Corporate taxes, a national sales tax, tariffs of course, a flat income tax that doesn't need an IRS, all come to mind.

The key, in my opinion, is starting with a sound respect for limiting how much of GDP you take, however you do it, considering that any form or revenue is going to be paid for in some way by the people.

I need to recover from my virus to think this through clearly, but I also think the topic is worth a thread for discussion.

Thoughts?

Oldbear83 said:

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I admit this caught me by surprise. The fam, including me, are all fighting a virus that just doesn't want to go away, my company is finishing a new system implementation, and I really missed the talk about abolishing the IRS.

Looks like Trump means to do it, which raises some questions as well as possibilities.

I know there is a lot of talk about tariffs paying for everything, but there are other ways to fund the government. Corporate taxes, a national sales tax, tariffs of course, a flat income tax that doesn't need an IRS, all come to mind.

The key, in my opinion, is starting with a sound respect for limiting how much of GDP you take, however you do it, considering that any form or revenue is going to be paid for in some way by the people.

I need to recover from my virus to think this through clearly, but I also think the topic is worth a thread for discussion.

Thoughts?

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Call me skeptical, Sir! Way too many lawyers, accountants, and tax preparers in our country to ever allow this to happen. I could definitely see the new administration streamlining and scaling down the IRS.

Bad idea. Generally, free trade benefits everyone.

I'd say let's focus on regular people,not generals .

midgett said:

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Bad idea. Generally, free trade benefits everyone.

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Agree, 100%

One-Eyed Wheeler said:

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midgett said:

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Bad idea. Generally, free trade benefits everyone.

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Agree, 100%

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Fair free trade benefits everyone.

Absolutely no moral or economic reason that is justifiable for the American workers to have to compete against slave like labor.

Unfair free trade decimates communities, hurts blue collar workers, enriches the executives, greatly enriches the globalists, and ultimately transfers wealth up and out of the country.

I just think of how decimated our inner cities and other communities are. Jobs and the communities could have grown together if we'd just looked out for our own citizens a bit more. Free trade is a farce because its rarely fair, profits the wealthy and politicians, and we know globalists will always trade away the higher standard of living of people to make a buck.

Give Trump's version of Free and Fair trade a shot, it'll be much better for the average American and its communities.

RD2WINAGNBEAR86 said:

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Oldbear83 said:

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I admit this caught me by surprise. The fam, including me, are all fighting a virus that just doesn't want to go away, my company is finishing a new system implementation, and I really missed the talk about abolishing the IRS.

Looks like Trump means to do it, which raises some questions as well as possibilities.

I know there is a lot of talk about tariffs paying for everything, but there are other ways to fund the government. Corporate taxes, a national sales tax, tariffs of course, a flat income tax that doesn't need an IRS, all come to mind.

The key, in my opinion, is starting with a sound respect for limiting how much of GDP you take, however you do it, considering that any form or revenue is going to be paid for in some way by the people.

I need to recover from my virus to think this through clearly, but I also think the topic is worth a thread for discussion.

Thoughts?

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Call me skeptical, Sir! Way too many lawyers, accountants, and tax preparers in our country to ever allow this to happen. I could definitely see the new administration streamlining and scaling down the IRS.

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This to me has always been a huge reason why abolishing the IRS or even materially simplifying the tax code will never happen - especially given that most lawmakers are lawyers and it's at best hard to see them voting to put a major segment of their profession (I.e. tax attorneys) out of business along with the large number of CPAs, consultants, and other tax preparers that make a living off of a complex tax code. Difficult to see even a "get things done no matter what" type POTUS like Trump making it happen.

Let's be honest your company will never be finished with the new system implementation.

Governments need to get their revenue somewhere. However, I think income taxes are way too complicated and we can find a more efficient way to get the gov't their money. A consumption tax would be simple, a property tax could be simple. Tariffs possibly could be simple.

The entire income tax infrastructure would collapse, but in the end would be a good thing. We need those talented folks working on more important things than taxes. It's a waste of time and resources. I'm an accountant saying this FYI.

hodedofome said:

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Let's be honest your company will never be finished with the new system implementation.

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I was involved is several of those in my corporate days (Oracle, SAP). Those things never go well.

A wide ranging interview that discusses many of the problems we face and how we got here.

"The definition of a free man is one who owns his own labor." Someone who doesn't is at best a serf, and at worse a slave.

"Until 1913, the government was financed by tariffs."

This is coming about 35 years too late. At least for me.

ScottS said:

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This is coming about 35 years too late. At least for me.

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Better late than never.

J.R. said:

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hodedofome said:

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Let's be honest your company will never be finished with the new system implementation.

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I was involved is several of those in my corporate days (Oracle, SAP). Those things never go well.

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I've done many well and had a few failures. The problems are often time commitment (it's impossible to commit two years to one while having a full-time job) and change management why pay $10M to get what you have) and requirements gathering in the sales cycle.

I have seen many times where the client believes they bought a Mercedes, and I tell them they bought a Kia.

Mitch Blood Green said:

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J.R. said:

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hodedofome said:

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Let's be honest your company will never be finished with the new system implementation.

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I was involved is several of those in my corporate days (Oracle, SAP). Those things never go well.

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I've done many well and had a few failures. The problems are often time commitment (it's impossible to commit two years to one while having a full-time job) and change management why pay $10M to get what you have) and requirements gathering in the sales cycle.

I have seen many times where the client believes they bought a Mercedes, and I tell them they bought a Kia.

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The problem for me was that the Board approved the new system without any input from Accounting, then was surprised when the user testing revealed the system under-performs the promised results.

Things have improved since then, but we had to push back the go-live for the second module by two weeks, because the new system was applying payments to the wrong accounts at times.'

RD2WINAGNBEAR86 said:

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Oldbear83 said:

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I admit this caught me by surprise. The fam, including me, are all fighting a virus that just doesn't want to go away, my company is finishing a new system implementation, and I really missed the talk about abolishing the IRS.

Looks like Trump means to do it, which raises some questions as well as possibilities.

I know there is a lot of talk about tariffs paying for everything, but there are other ways to fund the government. Corporate taxes, a national sales tax, tariffs of course, a flat income tax that doesn't need an IRS, all come to mind.

The key, in my opinion, is starting with a sound respect for limiting how much of GDP you take, however you do it, considering that any form or revenue is going to be paid for in some way by the people.

I need to recover from my virus to think this through clearly, but I also think the topic is worth a thread for discussion.

Thoughts?

---

Call me skeptical, Sir! Way too many lawyers, accountants, and tax preparers in our country to ever allow this to happen. I could definitely see the new administration streamlining and scaling down the IRS.

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There is no way he pulls that off. Once again, Income Tax is a Congressional Act, Executive can't just do away with it. He thinks the other 2 branches are subordinates to the Executive, they are not. He can work on the formula and propose changes, but he can't undo a Congressional Act.

Don't get me wrong, I would LOVE not paying income tax.

I'm not for it just because I see no better way. The current stepped income tax system is predictable and fair, in my opinion. I would lower the corporate tax rate, and estate tax, but we should not just give up on America's largest source of income, while we are how many trillion in debt?

Plus, Trump only increases the deficit. Balance a budget, and I would be willing to see what he comes up with to replace the IRS collecting income tax, but the guy that spends like there is no tomorrow does not need to be in charge of replacing the IRS.

Also Congress will not let him do it. And he knows that. It is likely a shot across the bow, to just get people talking.