PrairiePundit

 Newsmax: U.S. Commerce Secretary Howard Lutnick said Thursday he expects the country is heading towards $50 billion a month in tariff revenues as higher levies on imports from dozens of countries kick in. "And then you're going to get the semiconductors, you're going to get pharmaceuticals, you're going to get all sorts of additional tariff money coming in," Lutnick said in an interview with Fox Business Network. When asked whether an August 12 deadline to reach a tariff agreement with China could be extended again, Lutnick said it was possible. ... The tariff revenue could lead to reduced taxation on Americans, particularly those with income under $200,000. 

 Stephen Moore: New York and New Jersey lost $140 billion in income in just one decade. Call it moving van economics — and New York and New Jersey are the losers. A new analysis from my organization, Unleash Prosperity, of the latest census and income tax data finds these two states have lost more residents over the past decade than any other state not named California. These are giant population losses from two of America’s leading industrial and financial centers throughout the 20th century. These New York and New Jersey refugees have mostly relocated to the new powerhouse states like Florida, Texas and Tennessee. These moving vans explains why the Southeast is now, for the first time ever, the economically dominant region in the country. Even more problematic for New York and New Jersey is that the movers are taking a lot of personal income and purchasing power with them. From 2012 to 2022, New York has lost $111 billion in income while Jersey is down by more than $31 billion. B...

 Federalist Wire: ... President Donald Trump’s economic strategies are delivering remarkable results, driving historic gains in tariff revenues, blue-collar wages, and capital investments, according to what a senior Treasury official detailed to the New York Post . These achievements, dubbed the “ABCs”, are otherwise known as “America First” trade, a “Blue-Collar Boom,” and a “Capital Expenditures Comeback.” They are reshaping the economic landscape and challenging critics who doubted the president’s tax-and-tariff policies. In a recent interview with the New York Post , Joe Lavorgna, counselor to Treasury Secretary Scott Bessent, highlighted the unprecedented success of Trump’s tariff policies. Fiscal year 2025 saw Treasury revenues from tariffs soar to a record-breaking $200 billion. Revenue is like to be “more than $300 billion” by year’s end. A new trade deal with Japan, finalized this month, further bolsters these figures, signaling robust confidence in Trump’s trade agenda. T...

 CLG: Lutnick says Trump has agreed to eliminate income taxes for Americans making less than $150K Paying taxes is a painful experience for many Americans, especially those who can't afford lawyers and accountants to deal with them. The proposal does make me glad I voted for Trump.

 Newsmax: ... Up to that point, Musk detailed for Schmitt, host of “Rob Schmitt Tonight,” how easy it is to cut waste in the federal government given the scale. “People ask me, what's the most surprising thing that you've encountered when you go to D.C.? And I said, well, the most surprising thing is the scale of the expenditures and actually how easy it is to, just when you add caring and competence, where it was absent before, you can actually save billions of dollars, sometimes in an hour. Like it's wild,” Musk said. He also said Trump is “supportive” of the idea of DOGE dividend checks, an idea that was floated by Azoria CEO and co-founder James Fishback on Wednesday. Musk told Fishback that he would “check with the president.” “It's money that's taken away from things that are destructive to the country and from organizations that hate you to you. That's awesome. That's like glorious. That's like the best, the spoils of battle,” Musk told Schmitt o...

 American Action News: U.S. Secretary of Commerce Howard Lutnick appeared on Fox News Wednesday and talked about President Donald Trump’s plan to dismantle the Internal Revenue Service (IRS) as a step toward tax reductions. Trump’s vision, Lutnick said on “Jesse Watters Primetime,” hinges on eliminating the IRS to shift the tax burden from American shoulders to foreign entities and companies operating under non-U.S. flags, such as cruise ships and supertankers that currently bypass U.S. taxes by registering in countries like Liberia or Panama. He also pointed out similar practices in the alcohol industry, where foreign products enter the U.S. market tax-free. “His goal is to abolish the Internal Revenue Service and let all the outsiders pay. I mean, this is someone who is focused on America. Let’s drive down our waste, foreign abuse,” Lutnick told Watters. ... Lutnick discussed what he said was a common method that large vessels use to avoid U.S. taxation. Under Trump’s proposed ...

 The Hill: President-elect Trump said Tuesday he wanted to create an “External Revenue Service” to collect tariffs and other revenue from foreign countries, comparing it to the Internal Revenue Service (IRS), which collects taxes from Americans. “For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS). Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves,” Trump said on Truth Social . “It is time for that to change. I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties, and all Revenue that come from Foreign sources.” Trump is looking to ramp up tariffs on goods from Canada, Mexico and China. He said he will enact tariffs of 25 percent on all Canadian and Mexican goods, and add another 10 percent tariff to all Chinese goods, through an executive order on his first day in office, which is Monday. “W...

 The Blaze: In Donald Trump’s bombshell interview on "The Joe Rogan Experience," the president-elect floated the idea of abolishing the income tax as well as raising tariffs. While Glenn Beck has historically been against heavy tariffs, Trump may have won “The Glenn Beck Program” host over with his explanation. “I’ve always been against tariffs; however, I might be wrong,” Glenn says. “Donald Trump is making a good case when he’s talking about getting rid of the income tax because tariffs will raise the prices of things, especially if he does it the way he’s talking about doing it.” However, if Trump lowers the income tax simultaneously, the economy would boom. “We could make up that deficit and become a very powerful nation again. Tell me I’m wrong,” Glenn challenges economic expert and Heritage Foundation visiting fellow Peter St Onge. “That’s absolutely correct,” St Onge replies. “The vast majority of economists go after tariffs, they attack Trump over tariffs, and I thin...

 Fox News: Democratic presidential nominee Vice President Kamala Harris wants to hike taxes by trillions of dollars, which will without a doubt crush our sputtering economy. Republican presidential nominee Donald Trump has a better idea: lower taxes and take a machete to government spending. The former president, speaking recently at the Economics Club in New York, promised that if he wins in November, he will create a government efficiency commission to root out "fraud and improper payments" and that Elon Musk has agreed to head up the effort. Asking the smartest man on the planet to streamline our bloated, inefficient and unaccountable federal government – slated to spend $7 trillion next year – is the kind of out-of-the-box idea that helped Trump win in 2016 and could sway voters again this November. Two-thirds of Americans think they pay too much in taxes. If they knew how much of their tax money was wasted or outright stolen, they might revolt. In 2022, some $47 billi...

 Newsmax: A new study from the Tax Foundation suggests that Vice President Kamala Harris' tax plan could result in significant job losses, hinder economic growth, and complicate the U.S. tax code, the Daily Caller reported . Vice President Kamala Harris' proposed tax plan could eliminate nearly 800,000 full-time jobs and stifle economic growth, according to a study released Tuesday by the Tax Foundation . The plan, which includes raising corporate tax rates and imposing taxes on unrealized capital gains, would significantly impact employment, wages, and gross domestic product in the long term, the study found. The report estimates that Harris' plan would cut approximately 786,000 full-time jobs and reduce the U.S. GDP by 2%. Wages could decline by 1.2%. In contrast, former President Donald Trump's economic proposals, including a 60% tariff on China, would result in about 387,000 lost jobs but slightly increase wages by 0.6%, according to the same study. ... The purpos...

  Elon Musk @elonmusk · 9h Wow Quote Watcher.Guru @WatcherGuru · Aug 20 JUST IN: Kamala Harris backs President Biden's 44.6% capital gains tax proposal, the highest in history. The proposal also includes a 25% tax on unrealized gains for high-net-worth individuals. This confiscator taxation demonstrates just how greedy Democrats are.