EXPLAINED: Trump Wants To Abolish The IRS

"The fair tax act of 2025 was a bill proposed which would effectively abolish the IRS and if you still don't believe me let me read you one sentence from the Bill's press release the fair tax were also eliminate the need for the Internal Revenue Service"

"Trump has also been working to create the ERS the external Revenue Service as a new entity to collect tariffs"

"if we take a look at the 2022 numbers that means in Theory the government would have to impose something like a 130% tariff on all imported goods into the United States in order to generate $4.5 trillion based off of the $3 trillion or so that was brought in or imported into the United States in 2022 which doesn't seem very feasible"

"back in Trump's first term in 2018 he passed a 25% tariff on steel entering the United States and the question ultimately is then what happened to the price of steel after those tariffs were imposed take a look the steel tariffs were passed in March of 2018 which is where this line is right here and what you can see is after the tariffs are passed steel prices actually went up a little bit until September 2018 but then after that steel prices actually fell and they actually became cheaper than where they were before the tariffs until the pandemic hit"

"yes there could be worse inflation on certain items with the tariffs there could also be a chance that inflation doesn't get worse on certain items"

"Our economy is going to change in 2025 and in this video I want to show you how you can find the investment opportunities that most people are overlooking"

"president-elect Trump is entering the White House in January and he wants to make some sweeping changes to our government and economic policy"