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US President Donald Trump is considering eliminating personal income tax in favour of a tariff-centric economic policy to increase American wealth.
Trump has floated this idea before, suggesting that tariffs on imports could replace federal income tax, and has taken small steps towards it, such as potentially ending federal taxes on tips, overtime and Social Security benefits.
Economic researcher Chris Martenson and financial advisor Paul Kiker believe that repealing income taxes would have a significant positive impact on the economy and citizens’ quality of life, freeing up capital for reinvestment and increasing consumption.
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US President Donald Trump has long been an advocate for reducing taxes. Actions taken by him since taking office suggest he is entertaining the idea of eliminating income taxes in favour of a tariff-centric economic policy to increase American wealth. He floated this idea just before the election during a Joe Rogan podcast and, according to Go Banking, also during his election campaign.
During his campaign last year, President Trump floated the idea of an “all-tariff policy” during a private meeting with GOP lawmakers. No formal policy proposal was released but the idea seemed to be that if tariffs on imports were raised sufficiently, the federal income tax could be eliminated entirely.
At the end of January, press secretary Karoline Leavitt said Americans who earn tips, overtime or Social Security benefits may not have to wait long for federal taxes on that income to end. Which could be seen as a small step towards eliminating income tax for all.
“The Trump administration has been a constant source of significant actions that have been coming at a pace that is, quite frankly, difficult to absorb,” Peak Prosperity’s Chris Martenson said. “But perhaps the biggest shock from a market perspective was Trump’s pondering if perhaps the individual income tax system couldn’t be eliminated in favour of excise taxes.”
If Trump repeals income taxes, it would be one of the most bullish things imaginable, and the advice would be to “buy everything, don’t look back,” Martenson said during a podcast last week.
“Bullish” is a word derived from “bull market,” a term used in financial markets to describe a period when stock prices increase by 20% or more and this trend continues for at least two months. It follows a bearish period, a period of declining market prices.
Paul Kiker, a financial advisor for Peak Financial Investing, joined Martenson to discuss, among other things, what effects repealing income would have.
To begin the discussion, Martenson played a video clip of a speech President Trump made at the Congressional Institute last week during which he stated that the US had a period of significant wealth and power from 1870 to 1913 when it relied heavily on tariffs, In 1887, a commission was set to manage the large amount of money generated from these tariffs, Trump explained. The United States had no income tax until 1913. The country instead relied on tariffs to generate revenue with the money raised being used for various national projects during Teddy Roosevelt’s presidency.
“Instead of taxing our citizens to enrich foreign nations, we should be tariffing and taxing foreign nations to enrich our citizens,” President Trump said.
The idea of not taxing citizens and instead taxing foreign nations to enrich citizens could lead to a significant increase in the quality of life for citizens. “If people suddenly had money in their pockets that wasn’t going to the federal government that’d be a big deal,” Martenson said. If income taxes were repealed, it could ignite “animal spirits.”
The repeal of income taxes will free up spouses to stay at home and focus on their families, rather than being forced to work due to the “two-income trap,” Kiker said referring to the dilemma described in the book ‘The Two-Income Trap: Why Middle-Class Parents are Going Broke’. The beneficial impact of repealing income taxes could be felt across the board, economically and in the lives of citizens, “that’s ridiculously bullish,” Kiker said.
Eliminating income tax combined with implementing cryptocurrencies (President Trump has banned the creation of central bank digital currencies (“CBDCs”) in the US) could lead to increased ingenuity, reinvestment in businesses and new construction, as well as more money for families to pay for education and become debt-free.
The removal of income tax and freedom from the banking system could lead to increased consumption in the short run, but ultimately, people would have more free capital to reinvest in ideas, businesses and their families. “It really would remove the shackles from the American citizen. It would be huge,” Kiker said.
We have embedded the video below to begin where Martenson and Kiker discuss the elimination of personal income taxes.
If you are unable to watch the video above on Rumble, you can watch it on YouTube HERE or Odysee HERE.
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Categories: Breaking News, World News
Populist or real?
This will simply mean that people in other countries will be paying the taxes, not only for their own government services but for US government services to Americans as well.
If he does this we should boycott all products made in the US until he remover tariffs from our exports.
Funny title 🙂 comming from ”the Father of VX ”
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there has to be income first mmm
The US is trillions of dollars in debt. I ask myself how they can afford to cancel income tax but I guess sovereign debt is becoming irrelevant given no one can pay their bills.
Well the US government as been stealing for the taxpayer for a very long time. That what DOGE is doing, tracking down all the wasted and stolen BILLIONS of dollars by the government.
He can’t eliminate something that is already illegal. THERE IS NO LAW that requires Americans to pay income taxes on the fruits of their own labour. THERE IS NO LAW!!!
People who haven’t watched it need to watch Aaron Russo’s film – From Freedom to Fascism. It’s on many channels on bitchute and I’m sure it’s on odysee and rumble and it might still be on youtube. I won’t include a link here, but just go to bitchute, search for From Freedom to Facism, watch it, weep for a bit, and then spread it far and wide.
The Employment Tax Act only applies to federal public servants. It only applies to “benefits” that they don’t actually work for. Labor is not taxed. It is a complete fraud against the American people. Learn how to read Title 26 until you understand it. “Includes” means enclosed, confined within, a limitation.
Oh sure. It would be cool because Canadians would be paying their income tax through American tariffs on Canada. NOT!!
tariffs target tariff imposing dictators… presidential orders hail Hitler
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I haven’t filed since 2015 and became a sovereign American instead of a U.S. citizen and others can also if they look and learn at
https://states.americanstatenationals.org
Personal Income Tax is ECONOMIC SLAVERY, Corporate Income Tax, doesn’t tax corporations, it give taxing authority to managers and they decide who pays the tax, customers, workers or investors. Taxes, no matter who they’re levied on, end up on the backs of the poor. That’s why government ‘benefits’ are necessary. Benefits are for slaves, free men are able to care for themselves.
The solution is obvious but so cleverly hidden, few can see through the Overton Window, fogged by a continuous blast of Oligarch’s propaganda. Government’s primary purpose is to protect assets, and assets should pay for the service, NOT workers laboring to survive with NO assets.
For individuals to remain free, Income Tax must be abolished and replaced with a Proportional Asset Tax and Sales Added Tax (PAT-SAT). With the proper rates and thresholds, systemic poverty could be eliminated in one generation and we’d be well on the way out of the huge debt hole corrupt politicians have dug.
Government money printing is all that is necessary. Income tax is moot.
I have a couple of books on the fact that in the Constitution that most all of us are NOT supposed to pay income tax. There is some exception like federal employees and others. One of the books is written by an ex IRS gun carrying agent.
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