ilmscore | BREAKING: Trump Wants To CANCEL Income Taxes!

BREAKING: Trump Wants To CANCEL Income Taxes!

Predictions from this Video

Total: 6
Correct: 2
Incorrect: 0
Pending: 4
Unrated: 0
Prediction
Topic
Status
The US national debt is projected to reach $53 trillion by the year 2035.
"our national debt that's now projected to hit $53 trillion by 2035."
US National Debt Projection
Pending
It is impossible to eliminate federal income taxes because government spending is too high and tariff revenue is insufficient to replace it.
"The government just spends too much money and tariff revenue is never going to be enough to be able to replace it."
Eliminating Federal Income Tax
Correct
To eliminate the deficit, the US government would need to cut $2 trillion by halving Social Security and Medicare, reducing the military budget by 50%, defaulting/refinancing interest payments, and implementing 15% budget cuts across other areas.
"we need to cut $2 trillion just to break even. In order to do this, we'd have to probably cut Social Security and Medicare by half, saving us a trillion. We'd need to reduce the military budget by another 50%, saving us 400 billion. We'd probably need to default or a finance or interest payments, saving us another 400 billion. And then with 15% budget cuts across everything else, we could now get to a point where we make and spend the exact same amount."
Government Spending Cuts for Deficit Elimination
Pending
An additional $1 trillion in government spending cuts would allow the US to add only 3% to the national debt annually, manageable through inflation, by drastically cutting social services, the Department of Education, Social Security (by 25%), and the military, while refinancing the national debt.
"if we could cut another trillion dollars from government spending, then we could only add 3% to the national debt every year over what we already owe and let inflation take care of it over time. To do this, we'd have to cut most social services, the Department of Education, reduce Social Security by another 25%, and cut the military budget down to what's absolutely necessary while refinancing all of the national debt."
Further Spending Cuts for Debt Management
Pending
Increasing tariff revenue significantly would negatively impact the economy, and current projections of over $100 billion only represent 2% of government needs, meaning tariffs cannot meaningfully replace other revenue sources.
"we could only increase this so much before it has a negative impact on our economy. And even though we're on track to surpass a hundred billion of tariff revenue, that's still just 2% of everything the government needs to run. This means without a very long- winded answer here, replacing any meaningful amount of US revenue from tariffs is essentially zero."
Tariff Revenue Potential
Correct
To make a significant impact on government revenue, spending would need to be cut by 50% while tariff rates are increased tenfold.
"The US government would basically have to cut all spending by 50% while increasing tariffs 10 times where they are today to even begin to move the needle."
Simultaneous Spending Cuts and Tariff Increases
Pending