As the 2024 campaign neared its send, candidate Donald Trump began promising that, if elected, he would support the elimination of income taxes. Shortly after he was sworn in, Trump then began saying he planned to abolish the Internal Revenue Service. The Trump team claimed in each case that it could raise enough tax revenue from tariffs to replace tax revenue from income taxes. By March, however, Trump began backtracking, and his administration announced that the new goal was to eliminate income taxes for people making under $150,000 per year. That last development on its own tells us that the IRS isn’t … Continue reading →