Inside Trump’s ‘Goal’ to Abolish the IRS, Utilize Tariffs So ‘Whole Economy Explodes’ — And How It’ll Affect Your Wallet

One of President Trump’s objectives over the next four years is to have US revenues from tariffs become so massive that the Internal Revenue Service is no longer needed, his commerce secretary revealed Wednesday.

“His goal is to abolish the Internal Revenue Service and let all the outsiders pay,” Commerce Secretary Howard Lutnick said during an appearance on Fox News Channel’s “Jesse Watters Primetime.”

The former CEO of Wall Street firm Cantor Fitzgerald expanded a day later on his belief that Trump’s sweeping tariff plan will be a boon for the US economy.

“As the president said, reciprocal tariffs, either you bring yours down or we’re going to bring ours up. If we go to their level, it will earn us $700 billion a year to be equal to everybody else,” Lutnick said Thursday, during an appearance on FNC’s “America’s Newsroom.”

“And there goes our deficit. And interest rates come smashing down, and the whole economy explodes higher.” (Read more from “Inside Trump’s ‘Goal’ to Abolish the IRS, Utilize Tariffs So ‘Whole Economy Explodes’ — And How It’ll Affect Your Wallet” HERE)