Trump wants to ‘abolish’ the IRS and replace it with tariffs. Can it work?
CNN
No one wants to pay taxes, and practically every American dislikes the IRS. But, as the saying goes, the only guarantees in life are death and taxes. So the IRS is here to stay.
No one wants to pay taxes, and practically every American dislikes the IRS. But, as the saying goes, the only guarantees in life are death and taxes. So the IRS is here to stay. Right? Well, maybe not, according to Commerce Secretary Howard Lutnick. “Donald Trump announced the External Revenue Service, and his goal is very simple: to abolish the Internal Revenue Service and let all the outsiders pay,” Lutnick said on Fox News Wednesday night. In other words: America will raise so much money from President Donald Trump’s tariff plan that Americans will no longer need to pay income taxes. It sounds great. But it’s riddled with problems.
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