
𝐓𝐗𝐌𝐂|5月 09, 2026 13:33
Prior to income taxes govt spending was like 2-3% of GDP. Today it is 20%. We had no social safety net, no entitlements, no large standing military, a paltry regulatory structure. We also had import tariffs and excise taxes, and were a net exporter of manufactured goods.
If we want to get rid of income taxes and return to 1905 we'd need to cut like 80%+ of government spending, which would liquidate savings and incomes for... hundreds of millions of people here and globally who are invested, own assets, or rely on entitlement income.
But sure wax poetic about it.(𝐓𝐗𝐌𝐂)
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