President Trump’s Proposal to Eliminate Income Taxes: Can It Be Done?
n February, President Trump said that tariffs would generate so much income that Americans would no longer need to pay income taxes.
The latest plan, according to U.S. Commerce Secretary Howard Lutnick, is to abolish income taxes for people who earn less than $150,000 yearly. That move would affect roughly 75% of workers, according to U.S. Census Bureau data. On its face, this could narrow the wealth gap by boosting disposable income for low- and middle-income households without raising taxes on the wealthy — a politically clever alternative to progressive tax hikes.
Eliminating the burden of income taxes is an exciting proposition, due to savings not just in money but in man-hours — the time spent anguishing over ledgers, forms and receipts. In 2024, according to the Tax Foundation, Americans spent 7.9 billion hours complying with IRS tax filing and reporting requirements. That is equivalent to 3.8 million full-time workers—roughly the population of Los Angeles — doing nothing but tax paperwork for the full year.
The question is, can tariffs and DOGE replace income taxes? If not, how else could the government fund itself? Is a growing debt bubble that is now carrying a $1.2 trillion interest tab, which must continue to expand just to sustain itself, the only alternative?
Continue reading here.
Perhaps the greatest scam perpetrated by the banksters on humanity is that an independent sovereign nation needs to borrow other people’s money to fund its operations.
An independent sovereign nation doesn’t need to borrow other people’s money, doesn’t need to tax the income of its citizens and businesses, and doesn’t need a warehouse of gold in order to fund its operations.
An independent sovereign nation has the sole authority and power to create money out-of-thin-air and infuse that money into the economy through government contracts for goods and services, and by issuing loans through the National Treasury Bank.
Consumption Taxes on purchases of goods and services and Property Taxes on consumption of land use should be levied to fund State and Local Government Operations.
YES, THE SOLUTION IS TO OUTLAW AND FORBID THE EXISTENCE OF PRIVATELY OWNED COMMERCIAL BANKS, AND ONLY ALLOW THE EXISTENCE OF A NATIONAL TREASURY BANK THAT MAKES LOANS OF MONEY CREATED OUT-OF-THIN-AIR AND PAYS INTEREST ON SAVINGS HELD AT THE NATIONAL TREASURY BANK.
THE NATIONAL TREASURY BANK WOULD OPERATE SIMILAR TO AN INTERNET BANK (ALLY BANK) WITH A CREDIT CARD AND SUB-BRANCHES LOCATED IN FEDERAL POSTAL DISTRICTS.
Also, people need to accept that gold & silver are nothing more than soft shiny metals with beneficial electrical and thermal properties, and are aesthetically pleasing to the eyes.
How To End The Federal Reserve & Erase The National Debt
[https://open.substack.com/pub/william3n4z2/p/how-to-end-the-federal-reserve-and?r=1kb28q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false](https://open.substack.com/pub/william3n4z2/p/how-to-end-the-federal-reserve-and?r=1kb28q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false)
A New Monetary System with A New National Bank
[https://open.substack.com/pub/william3n4z2/p/a-new-monetary-system-with-a-new?r=1kb28q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false](https://open.substack.com/pub/william3n4z2/p/a-new-monetary-system-with-a-new?r=1kb28q&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false)
I am not proposing Modern Monetary Theory!
That fact is that an independent sovereign nation doesn’t need to borrow other people’s money by creating bonds out of thin air and then selling those bonds to the public, and an independent sovereign nation doesn’t need to tax the incomes of its citizens and businesses, and an independent sovereign nation doesn’t need a warehouse full of gold in order fund its operations.
An independent sovereign nation has the sole authority and power to create currency out of thin air by issuing government contracts for goods and services, and by issuing loans through a National Treasury Bank.
Today, it is the Banksters who create currency out of thin air when they issue loans, and then they profit from the interest collected on those loans. The Banksters also profit from the interest paid by the government to them on the bonds (that were created out of thin air) that they purchased from the government.
Bank Reserves are just a smoke-and-mirrors gimmick that the Banksters use to fool people into thinking their banks have solvency. A bank doesn’t need Reserves in “storage” in order to create loans out of thin air.
Watch the John Titus YouTube video:
Mommy, Where does money come from?
[https://youtu.be/S_dBKAWHHQI?si=Rdax-GrFmQ7zamX6](https://youtu.be/S_dBKAWHHQI?si=Rdax-GrFmQ7zamX6)
[https://youtube.com/@bestevidence?si=nvQ-XJ_zxRbssjfN](https://youtube.com/@bestevidence?si=nvQ-XJ_zxRbssjfN)
Why not make those who own the country pay for running it? Time for a land value charge as urged by Henry George.