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The way things are moving really does feel different. I could see this happening.
I think the bond market will have something to say about this.
If there's a credible replacement plan for the revenue, then it shouldn't matter. If that includes removing capital gains taxes, then there should be more bond demand.
Markets don't like uncertainty. Hard to imagine they will view anything as a credible replacement plan until proven to be credible. A mass sell off in the US bond market will derail those plans very quickly whether credible or not.
That's fair and very plausible. Of course, I think they should just default on the national debt, so it's not much of a reason not to do something in my book.
26T of federal debt is held domestically. That would be a fun day when that all gets written to zero.
You know I'd be eating popcorn and laughing at the chumps who gave their money to the Feds willingly.
Unfortunately many didn't do it willingly. They got ensnared in the trap.
Indeed
The issue is, where will the money come from to pay for all the spending in place and new spending Trump has planned.
There was a post earlier today (#891768) about that.
The basic idea is to replace most of the current taxes with a 23% sales tax, with a household rebate to offset how regressive that would be.
Wild time to be alive. A lot of people are hurting financially. We've been gas lit for 5 years about how bad it is.
That would be pretty wild.