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Trump To Create External Revenue Service ‘IRS Has Taxed Americans For Too Long’
President Donald Trump is planning to create a new agency to collect revenue from other countries – it’s called the External Revenue Service – as many people call for an end to the taxation of the American People.
Trump said in a social media post he would create the department on Jan. 20, the day he takes office as president for a second term, adding that Americans have been taxed for too long by the Internal Revenue Service.
"Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves. It is time for that to change. We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share."
It’s not clear whether the External Revenue Service will replace the IRS or the current collections of tariffs, duties, fees and fines.
During his presidential campaign, Trump often talked about replacing income taxes with tariff revenue.
The Tax Foundation estimates that a 20% universal tariff on all imports into the U.S. would generate $4.5 trillion over 10 years before then $3.3 trillion over the next decade. Right now the IRS is collecting $16 to $18 trillion a year from taxpayers.
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