While the putative Department of Government Efficiency represents a first step in controlling federal spending, other initiatives by the Trump administration could unfortunately have the opposite effect. Witness recent comments by Commerce Secretary Howard Lutnick describing the president’s goal as “no tax for anybody making under $150,000 a year.”
That type of policy sounds superficially attractive — after all, who enjoys paying taxes? But on both practical and philosophical levels, this proposal seems as unrealistic as it is unwise.
Practical Problems
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For starters, this idea would uproot the payroll tax that funds Social Security and Medicare. (Lutnick didn’t explicitly say which taxes the idea would apply to, but “no tax for anybody” seems pretty unequivocal in encapsulating all of them.)
Under current law, workers pay
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