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highplainsdem

(54,094 posts) Thu Feb 20, 2025, 03:14 PM Thursday

Trump will scrap federal income tax and abolish IRS, ally suggests [View all]

Source: The Times

President Trump’s commerce secretary has suggested that the administration could scrap federal income taxes.

Howard Lutnick, who was confirmed in his role on Wednesday, said the White House’s goal was to abolish the Internal Revenue Service (IRS) and instead rely on Treasury coffers being filled by tariffs collected from other countries.

In 2024 the US federal government collected $4.92 trillion. The biggest source of revenue — about 49 per cent — was from individual income taxes.

“Think about it, Donald Trump announces the External Revenue Service, and his goal is very simple … his goal is to abolish the Internal Revenue Service and let all the outsiders pay,” Lutnick told Fox News.

-snip-

Read more: https://www.thetimes.com/us/american-politics/article/trump-to-abolish-irs-layoffs-6vzzpfffh

72 replies

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Trump will scrap federal income tax and abolish IRS, ally suggests [View all] highplainsdem Thursday OP

We tried tariffs before Henry203 Thursday #1

The idiots never learn. I think I'll wait before filing taxes this year... brush Yesterday #53

That will be wildly inflationary too Jerry2144 Thursday #2

How about if we scrap Trump and abolish Musk instead? Wicked Blue Thursday #3

essentially a national sales tax lapfog_1 Thursday #4

Right now bananas are 55 cents a pound retail. A 25% tariff, even on the entire retail cost as opposed to the landed kelly1mm Thursday #12

25%... across the board lapfog_1 Thursday #17

It's the cumulative effect of adding 25% onto everything VMA131Marine Thursday #18

But how much of the typical American's budget is on imported goods? Of the big 4 housing, taxes, food kelly1mm Thursday #20

You are forgetting raw materials and knock on effects Miguelito Loveless Thursday #25

Exactly DENVERPOPS 22 hrs ago #72

Nope... I'm sorry. You're dealing with the immediacy of the issue; slightlv Thursday #30

A lot of stuff on Amazon/Ebay and even Etsy comes from China tulipsandroses Yesterday #52

In 2019, 19 percent of consumer spending on goods in the United States came from imports. Wiz Imp Yesterday #70

25% tariff + 23% VAT Miguelito Loveless Thursday #24

Still not cutting out bananas or coffee ....... nt kelly1mm Thursday #35

It's nice you have the luxury Miguelito Loveless Yesterday #71

A 25% tariff across the board wouldn't come remotely close to raising the revenue needed Wiz Imp Yesterday #67

Outsiders don't pay. We pay! /nt bucolic_frolic Thursday #5

Right. "Tariffs collected from other countries"? Tariffs are paid by importers, not by other countries. n/t thesquanderer Thursday #10

Somebody, for the love of the Goddess, please educate these idiots Bayard Thursday #15

You markodochartaigh Thursday #48

Eventually that concept is going to get through to all the people slightlv Thursday #31

even if they collect the tariffs rampartd Thursday #6

Exactly - but American retailers will game the system to their advantage FakeNoose Thursday #45

Well that will quickly crash the economy.............. Lovie777 Thursday #7

Within a week Miguelito Loveless Thursday #26

And trump, millionaires and billionaires, both foreign and domestic slightlv Thursday #33

Wait... our new commerce secretary ALSO thinks foreign countries pay tariffs? William Seger Thursday #8

Lutnik knows that we not he will be paying the taxes delisen Thursday #13

Prices will rise beyond what we pay in taxes now neohippie Thursday #9

In a month he has done more to America than any other President. twodogsbarking Thursday #11

So not happy with failure to dweller Thursday #14

Exactly and his ignorant MAGATs don't know livetohike Thursday #23

Why Wharton School of Business let TSF graduate, I'll never know. no_hypocrisy Thursday #16

He has a bachelor's degree not an MBA. milestogo Thursday #37

He probably had someone sit in and take the tests for him. Xolodno Thursday #39

What a dangerous, fucking idiot. Native Thursday #19

One more time ...Foreign countries do NOT PAY tariffs! ashredux Thursday #21

Executive Orders really are something! Kid Berwyn Thursday #22

His idiocy is boundless. WestMichRad Thursday #27

He's an idiot surfered Thursday #28

LOL!!!! n/t valleyrogue Thursday #29

JFC. 58Sunliner Thursday #32

Hell yea, let's go with 150% tariffs on everything coming in. The CEOs will love the income.. LiberalArkie Thursday #34

"Other countries" don't pay these tariffs. appmanga Thursday #36

So basically Trump wants to build our economy and have Mexico pay for it... Ohioboy Thursday #38

He's using the word "Tariff" and misconstruing it. Xolodno Thursday #40

Reliance on foreign trade to fund our government would make us extremely vulnerable to bad actors. bluedigger Thursday #41

When this fails Nasruddin Thursday #43

It just keeps getting worse! sakabatou Thursday #42

He is fixated on the term "tariff". He went on about how much he loves the word. He's an infant in a suit. BSC. nt Evolve Dammit Thursday #44

no taxes no social security nt et tu Thursday #46

What an idiot. The income tax is in the US Constitution. valleyrogue Thursday #47

I for one say this is a brilliant strategy... Ol Janx Spirit Thursday #49

I didn't think tariffs went to the government. iemanja Yesterday #50

They are paid to US Customs (Treasury Dept) by company importing the goods wishstar Yesterday #64

I know Howard. He isn't a dummy. erodriguez Yesterday #51

But for how long? DFW Yesterday #66

So we won't have pay for all the stuff they're taking away? JohnnyRingo Yesterday #54

Someone Else? Roy Rolling Yesterday #55

Trying to wrap my head around this alleged plan. Trust_Reality Yesterday #56

Amendment 16 rpannier Yesterday #57

This would incentivize the gov to increase imports Kablooie Yesterday #58

The total value of all the goods we import ... Straw Man Yesterday #59

Exactly. Wiz Imp Yesterday #68

That Is Extremely Regressive DallasNE Yesterday #60

Do they really think that tariffs will Figarosmom Yesterday #61

So... Mexico REALLY IS going to pay for it... Layzeebeaver Yesterday #62

HE. IS. INSANE. IMPEACH HIM NOW. LymphocyteLover Yesterday #63

You would think that Lutnick and Trump know that the ISA is part of Treasury, not Commerce DFW Yesterday #65

Exactly. My first thought is why is Lutnick babbling about this? Wiz Imp Yesterday #69