An Epic Blunder
Imagine waking up tomorrow to find that the federal income tax is gone. No more deductions, no more tax season stress, just your entire paycheck deposited in full. It sounds like a dream. But beneath the surface, this proposal isn’t just radical; it’s reckless. Eliminating the federal income tax without a sustainable replacement would destabilize the economy, devastate the federal budget, and drastically increase the cost of living for everyday Americans. The federal income tax is the backbone of government revenue, providing $2.5 trillion annually, nearly 50% of all federal revenue . It funds essential services: Social Security, Medicare, infrastructure, defense, education, and disaster relief. Without it, the government would be forced to either eliminate critical programs or find new ways to tax Americans . Even the most drastic spending cuts couldn’t offset this loss. In 2023, Social Security alone cost $1.4 trillion , while Medicare and Medicaid required another $1.6 trillion ...