Valuetainment “Washington Won’t Let This Happen” - Why Trump’s Income Tax BAN Terrifies D.C. Establishment
Dec 2, 2025
The panel dives into Trump's bold claim that tariffs could replace federal income taxes. They debate whether Washington would allow such a shift, with insights into how tariffs might finance significant tax cuts. History lessons reveal the origins of modern income tax and its complexities. They explore the Congressional Budget Office's optimistic deficit reduction estimates and connect Trump's appeal to rising living costs in urban areas. It's a deep dive into economics, politics, and the future of taxation.
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Washington Guards The Income Tax Knob
- Tom Ellsworth says Washington won't willingly remove income tax because it's a powerful control mechanism.
- He thinks tariffs could fund cuts but expects fierce establishment resistance.
Origin Story Of Modern Income Tax
- Tom Ellsworth recalls the income tax emerging around World War I as modern income tax's origin story.
- He links tax deductions' creation to encouraging philanthropic investments by wealthy donors.
Sequence Tax Cuts Around Political Windows
- Prepare for a multi-step political push: win midterms and show tariff revenue before major tax cuts.
- Use lame-duck timing to attempt radical income tax reductions if conditions align.