President Donald Trump has proposed a bold plan to eliminate taxes for Americans earning less than $150,000 annually. In a recent statement, Trump outlined his vision for providing significant financial relief to middle-class and working Americans, aiming to reduce their tax burdens and stimulate economic growth.
U.S. Commerce Secretary Howard Lutnick confirmed Trump’s proposal to scrap taxing people earning less than $150,000 a year, which Lutnick said he’s working on turning Trump’s goal into a reality.
During a recent interview with CBS, Lutnick said Trump’s plan could offer $24,000 in relief for some taxpayers that would otherwise go to federal income taxes. Trump’s tax plan also seeks to eliminate tips and overtime pay taxes while substantially cutting individual and corporate tax rates. Lutnick proposed that the revenue shortfall created by these cuts could be offset by cracking down on international tax fraud, which he argues is draining U.S. resources.
“How about no tax on tips? How about no tax on overtime? How about no Social Security? How about all those things – these are the kind of thoughts that will change America,” he said. “I know what his 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.”
He should start with no tax on Social Security Insurance payments – seniors have earned their freedoms py paying into this scheme for their entire working lives. Let them enjoy the fruits of their labour!
Are any of you demorats on board with Trump on this ??
I already love Trump, but I will love him even more if he does this.