“Trump plans to eliminate tax for anyone who makes less than $150,000 annually” – commerce secretary reveals

In a recent interview on CBS, Commerce Secretary Howard Lutnick, has revealedthat President Donald Trump’s main goal is to eliminate taxes for anyone who makes less than $150,000 a year.

“I know what his (Trump’s) goal is… no tax, for anybody who makes less than $150,000 a year. That’s his goal. That’s what I’m working for,” Lutnick told the CBS reporter.

READ ALSO: Trump threatens 200% tarriffs on all alcohol from European countries after US whisky tax

Lutnick also outlined the president’s other tax strategies, which include eliminating tax on tips, overtime, and Social Security, and implementing significant reductions to individual and corporate taxes.

He also stated that the “goal is to have external revenue taxes, not internal revenue. He also went on to say that the payment of taxeshave now become like a “Stockholm syndrome” to taxpayers.

READ ALSO: Trump increases tarrif on Canadian steel and aluminum to 50% as reponse to Ontario’s new electricity tarrif

HOLY SHIZZLES!

🚨 SEC. Lutnick says Donald Trump’s Goal is to have ZERO Taxes for anyone making less than $150,000 per Year — Force Countries to pay a Membership Fee to sell in America

• President Trumps goal is to have external revenue taxes.. not internal taxation on its… pic.twitter.com/73FQlFTkf9

— MJTruthUltra (@MJTruthUltra) March 12, 2025

This proposal is part of a broader effort to dismantle the IRS and replace income tax revenue with tariffs on foreign imports. According to Lutnick, these tariffs could generate around $700 billion annually.