r/WallstreetWhales • u/Bignblk • 7h ago

NEWS Trump just called for Congress to abolish the income tax.

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Thoughts???

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u/Hail_of_Grophia 6h ago edited 6h ago

Well now we have tariffs AND income tax yet somehow he drove up the national debt over $2T+ in his 2nd term so me thinks he does not know what the hell he is talking about

Edited to $2T

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u/Front-Investigator 6h ago

US debt is now over $40T. The annual budget deficit is over $2T. He increased the debt by over $2T so far via the deficit. You might’ve known this, just clarifying for any other readers.

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u/Major-Pin5871 6h ago

$2M per second probably

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u/Sharp-Put3506 6h ago

That $2T with a capital “T”…

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u/RoterRudi 6h ago

My personal theory is that the goal is to replicate the fall of the Soviet Union in a way, collapsing the economy and all foreign relations, so he and his buds can buy up all the infrastructure and capital for pennies on the dollar and completely take over all institutions.