Trump will scrap federal income tax and abolish IRS, ally suggests

[Trust_Reality]

56. Trying to wrap my head around this alleged plan.

I would think that because of high unemployment, circulation of money would slow dramatically. So prices would actually fall due to lack of demand. Years ago, I asked my father what the great depression was like. He said everything was cheap, but that didn't matter because no one had any money. My grandparents lost their small town (very small town) grocery store. I remember seeing photos of investors jumping out of tall buildings when the stock market crashed in 1929.

I would expect to see lots of bare store shelves. I will be looking for things I can donate to local second hand stores.

Will unemployment compensation "save" most individuals and families? I'm not sure where that money would come from. Someone above mentioned state and local taxes would probably need to be very high.

I know there are quite a few safeguards in place now that did not exist in 1929 and the following years. But Trump apparently intends to destroy all of the government systems that would implement them. Or, will Musk's AI run everything?

Or, maybe God will intervene on behalf of the heathens who tried to keep this from happening.