Posts: 199340
From: I hold a Juris Doctorate (J.D.) and a Legum Magister (LL.M.)!
Registered: Apr 2009

posted February 06, 2025 06:12 PM            

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It's no secret that President Trump offered buyouts to all federal employees, of which 40,000 have accepted so far. However, the IRS can't accept the offer until May 15 because they are needed to process 2024 returns. So, what about returns for 2025 and later years? This seems to imply that the IRS may not be needed for future tax seasons. Interesting.
http://www.msn.com/en-us/money/other/trump-offers-severance-packages-to-shrink-government-but-irs-employees-must-wait/ar-AA1yyezR?ocid=msedgdhp&pc=HCTS&cvid=8a72e273e133413cacdf20f 6ae5fe45b&ei=147

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Posts: 65
From:
Registered: Jan 2025

posted February 06, 2025 11:01 PM            

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Haha. Would be nice.

Cautiously optimistic that DT could pull this off…

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Posts: 199340
From: I hold a Juris Doctorate (J.D.) and a Legum Magister (LL.M.)!
Registered: Apr 2009

posted February 06, 2025 11:35 PM            

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Me, too.

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Posts: 1126
From: The Nether World
Registered: Mar 2021

posted February 07, 2025 02:08 AM            

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I can understand how you don’t like paying taxes. But it finances a lot of the things that benefits society in general. Teachers, fire departments, police, roads construction, military, health community centers, safety regulations, and more. You might not agree on everything, but privatizing all of it would be very problematic in many ways. In experience, it turns out that most of these services are not competitive markets and very quickly turn into virtual monopolies, leading to much higher prices. Certain services should never be at risk because they’re too important for everyday life.

Earlier, Trump suggested tariffs would pay for all of it. Obviously that will create trade wars and will likely increase prices even more, that’s why he’s already backtracking. So how will he finance it? He can’t end all income tax. But ofcourse there will be an extreme tax cut for the very rich. There will be a lot of services privatized, and you’ll be more out of pocket than ever before. Some services won’t be available at all anymore, especially when it comes to protecting consumers. And the amount of “invisible” taxes will increase. You might have start paying a lot more for government services, think of legal documents like passports, birth certificates, etc. And these documents will be required for a lot more regularly stuff, probably under the guise of preventing crime, but it’s all about making you pay more.

I will post no further comments on this subject and I will check back in 4 years because you don’t want to acknowledge these risks right now. But life will get much harder for regular people. You’ll have less freedom, more health problems, more violence and everything will become way more expensive.

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Posts: 1126
From: The Nether World
Registered: Mar 2021

posted February 07, 2025 05:29 AM            

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Wrong button.

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Posts: 65
From:
Registered: Jan 2025

posted February 07, 2025 10:56 AM            

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If the current tax system is eliminated, and there are those who are fearful and want to continue to pay taxes, they are welcome to do so and provisions in the law should be made for those who insist on paying taxes.

I am sure the government will not turn down money from those eager-to-pay-taxes citizens.

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Posts: 199340
From: I hold a Juris Doctorate (J.D.) and a Legum Magister (LL.M.)!
Registered: Apr 2009

posted February 07, 2025 12:48 PM            

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There are other taxes that can replace the income tax and in so doing, abolish the IRS.

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Posts: 3657
From:
Registered: May 2011

posted February 07, 2025 01:45 PM            

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This admin wants to lean on external revenue services. Hmmm America versus the world.

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