I was wrong about this and so was Bukele. Taxes offset the deficit by trillions of dollars. Taxes are a real form of revenue. They do "fund" the government.
In order to drop the income tax, the Gov will need to either drastically reduce spending (unlikely) or tax via other means (likely) via tariffs, consumption taxes, and inflation.
Don't get me wrong: eliminating the #IRS would be a supreme good, especially considering households can save in #Bitvoin to opt out of the inflation tax.
Hard to quantify just how much more economic activity we would have without all the red tape and bullshit that comes with engaging in basic commerce as an earner or a producer.
Unleash the great economic engine of a free people. Move taxes to consumption instead of earning. Collect directly from businesses. Leave families (the consumer) alone.
