Trump to eliminate income taxes for Americans making less than $150K
President Donald Trump previously teased eliminating the federal income tax in January, claiming that if his plans with tariffs work out then he would eliminate the federal tax.
By
Commerce Secretary Howard Lutnick on Friday said that he has received confirmation from the president that the U.S. will eliminate income taxes on households making less than $150K a year, if he successfully balances the budget.
President Donald Trump previously teased eliminating the federal income tax in January, claiming that if his plans with tariffs work out then he would eliminate the federal tax.
Lutnick told the “All In” podcast that he was recently in the car with the president when the idea was floated again.
“I’m in the car with him and I said we’re going to balance the budget,’ Lutnick said. “And I said, ‘But I have one favor to ask you: If we can balance the budget for you, will you agree to waive all income tax for every person who makes less than $150k a year in the United States of America?’ Which, by the way, is about 85% of Americans.
“And the reason you want to work for Donald Trump is he looks at me, he goes, ‘Sure,'” the secretary continued. “You realize, the President of the United States said, ‘If you balance the budget, sure.’ And he’s not lying; he’s not kidding. He’s like, ‘Yeah.’”
The secretary highlighted how the United States did not have a federal income tax until 1913, and had used tariffs instead.
Trump has already implemented tariffs against China, and is expected to impose other tariffs against Mexico and Canada, the two nations with whom the U.S. shares a land border.
***
Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.
*********
(TLB) published this report with permission of John Solomon at Just the News. Click Here to read about the staff at Just the News
Header featured image (edited) credit: Instagram. Emphasis added by (TLB)
••••
••••
Stay tuned tuned…
••••
The Liberty Beacon Project is now expanding at a near exponential rate, and for this we are grateful and excited! But we must also be practical. For 7 years we have not asked for any donations, and have built this project with our own funds as we grew. We are now experiencing ever increasing growing pains due to the large number of websites and projects we represent. So we have just installed donation buttons on our websites and ask that you consider this when you visit them. Nothing is too small. We thank you for all your support and your considerations … (TLB)
••••
Comment Policy: As a privately owned web site, we reserve the right to remove comments that contain spam, advertising, vulgarity, threats of violence, racism, or personal/abusive attacks on other users. This also applies to trolling, the use of more than one alias, or just intentional mischief. Enforcement of this policy is at the discretion of this websites administrators. Repeat offenders may be blocked or permanently banned without prior warning.
••••
Disclaimer: TLB websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
••••
Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.
Leave a Reply