Trump’s Latest Tax Policy Announcement Falls Just a Bit Short

Trump’s Latest Tax Policy Announcement Falls Just a Bit Short

Drew Berquist and Tom Cunningham discuss Trump’s recent announcement on Truth Social about creating an External Revenue Service (ERS) to collect tariffs and duties from foreign sources, effective January 20, 2025. Berquist questions the lack of mention about abolishing the Internal Revenue Service (IRS) and expresses skepticism about the broader implications for American citizens. Cunningham supports the idea of imposing tariffs on countries like China and abolishing the IRS, arguing that taxation is theft and that individuals should not pay income tax for their time. He criticizes the Federal Reserve’s monetary policies and the impact of being off the gold standard, emphasizing a need for systemic change.

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