Latest news with #JimRickards
Yahoo
26-05-2025
- Business
- Yahoo
Is The IRS Phase-Out Happening Now?
Former White House Insider says new U.S. model could replace income tax with tariffs and buried national wealth BALTIMORE, May 26, 2025 (GLOBE NEWSWIRE) -- It's one of the most ambitious financial shifts in U.S. history—and according to former White House and Pentagon Insider Jim Rickards, it's already in motion behind the scenes. Rickards says Washington insiders are preparing for a future without the IRS. And instead of raising new taxes or printing money, the government would fund itself using tariffs on foreign imports. Middle-Class Relief, Without Raising Taxes The foundation of the plan calls for eliminating income taxes for Americans earning under $150,000, including taxes on wages, tips, small business income, and Social Security benefits. In its place: tariff-based revenue on imported goods. 'Presidents' goal is very simple,' said Commerce Secretary Howard Lutnick. 'To abolish the Internal Revenue Service and let all the outsiders pay.' But Rickards says we could also replace those taxes with strategic royalties generated from U.S. resource development. Chevron Is Dead—And the Minerals Are in Play Rickards believes the 2024 Supreme Court decision overturning the Chevron Doctrine was the true trigger point. For decades, this doctrine empowered federal agencies to block access to resource-rich U.S. lands—keeping the nation from tapping into its most valuable strategic assets. That's no longer the case. 'These are hard assets, not abstract numbers,' Rickards explains. 'We're talking about copper, lithium, uranium, and rare earths—enough to fund a generation of American growth without taxing labor.' A $150 Trillion Engine, Now Unlocked According to Rickards, estimates show: $3.1 trillion in Nome, Alaska $7.35 trillion in Midland, Texas $516 billion near California's Salton Sea In a new research briefing titled The American Birthright, Rickards connects the Supreme Court ruling, the income tax exit plan, and how America could build a sovereign wealth model—similar to Norway's or Saudi Arabia's—on top of these untapped assets. About Jim Rickards Jim Rickards is a former advisor to the CIA, Pentagon, and U.S. Treasury, and has counseled presidents on financial warfare, systemic risk, and global economic restructuring. He now leads Strategic Intelligence, a monthly research advisory focused on financial defense and geopolitical forecasting. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@
Yahoo
26-05-2025
- Business
- Yahoo
Is The IRS Phase-Out Happening Now?
Former White House Insider says new U.S. model could replace income tax with tariffs and buried national wealth BALTIMORE, May 26, 2025 (GLOBE NEWSWIRE) -- It's one of the most ambitious financial shifts in U.S. history—and according to former White House and Pentagon Insider Jim Rickards, it's already in motion behind the scenes. Rickards says Washington insiders are preparing for a future without the IRS. And instead of raising new taxes or printing money, the government would fund itself using tariffs on foreign imports. Middle-Class Relief, Without Raising Taxes The foundation of the plan calls for eliminating income taxes for Americans earning under $150,000, including taxes on wages, tips, small business income, and Social Security benefits. In its place: tariff-based revenue on imported goods. 'Presidents' goal is very simple,' said Commerce Secretary Howard Lutnick. 'To abolish the Internal Revenue Service and let all the outsiders pay.' But Rickards says we could also replace those taxes with strategic royalties generated from U.S. resource development. Chevron Is Dead—And the Minerals Are in Play Rickards believes the 2024 Supreme Court decision overturning the Chevron Doctrine was the true trigger point. For decades, this doctrine empowered federal agencies to block access to resource-rich U.S. lands—keeping the nation from tapping into its most valuable strategic assets. That's no longer the case. 'These are hard assets, not abstract numbers,' Rickards explains. 'We're talking about copper, lithium, uranium, and rare earths—enough to fund a generation of American growth without taxing labor.' A $150 Trillion Engine, Now Unlocked According to Rickards, estimates show: $3.1 trillion in Nome, Alaska $7.35 trillion in Midland, Texas $516 billion near California's Salton Sea In a new research briefing titled The American Birthright, Rickards connects the Supreme Court ruling, the income tax exit plan, and how America could build a sovereign wealth model—similar to Norway's or Saudi Arabia's—on top of these untapped assets. About Jim Rickards Jim Rickards is a former advisor to the CIA, Pentagon, and U.S. Treasury, and has counseled presidents on financial warfare, systemic risk, and global economic restructuring. He now leads Strategic Intelligence, a monthly research advisory focused on financial defense and geopolitical forecasting. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-05-2025
- Business
- Yahoo
The IRS May Soon Be Gone—And No One's Talking About What Comes Next
A forgotten national asset could replace income taxes and reshape America's financial future WASHINGTON, May 26, 2025 (GLOBE NEWSWIRE) -- Millions of Americans dread April 15. But according to former White House and Pentagon advisor Jim Rickards, the days of filing tax returns—and paying income taxes altogether—may soon be over. Rickards says a new economic model being built behind closed doors could abolish the IRS entirely and fund the U.S. government through tariffs. No More Filing. No More Withholding. Rickards says the plan calls for eliminating all income taxes for Americans earning less than $150,000 per year—including taxes on wages, tips, and Social Security. Instead, the government would raise funds through tariffs on imported goods. The goal is simple: 'To abolish the Internal Revenue Service and let all the outsiders pay,' said Commerce Secretary Howard Lutnick in a recent public statement. The Key Was Buried in Federal Law But Rickards believes there is another piece to this puzzle – a long-sealed mineral reserve beneath federal lands. He says it could be used to help replace the taxes on our American people. For decades, one major roadblock prevented this pivot: the Chevron Doctrine, which gave federal agencies the power to block mineral access across U.S. public lands. That changed in 2024 when the Supreme Court overturned it—which could ultimately free up access to one of the most valuable troves of untapped wealth in the world. Rickards says the scale is staggering: '$3.1 trillion in Nome. $7.35 trillion in Midland. $516 billion near the Salton Sea. And that's just what's been confirmed so far.' He explains that a rarely discussed statute—Title 30 of the U.S. Code—was originally designed to give citizens rights to these minerals as early as the 1800s. Now, with the legal barrier removed, Rickards believes those resources can be monetized to fund the government in place of income tax. What Fills the Gap? In his new research briefing, The American Birthright, Rickards lays out how this system could work—connecting the legal ruling, the tax overhaul, and the $150 trillion 'national inheritance' that could soon replace taxpayer income as the lifeblood of the U.S. Treasury. About Jim Rickards Jim Rickards is a former advisor to the CIA, Pentagon, U.S. Treasury, and Federal Reserve. A legal and economic strategist, he has advised multiple presidential administrations and now serves as editor of Strategic Intelligence, a research service focused on financial defense and policy transformation. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@
Yahoo
26-05-2025
- Business
- Yahoo
Trump on Mt. Rushmore? Former CIA Advisor Says It's Not As Far-Fetched As It Sounds
Historic $150 trillion mineral endowment may become the cornerstone of Trump's economic legacy WASHINGTON, May 26, 2025 (GLOBE NEWSWIRE) -- Could Donald Trump's face one day be carved into Mt. Rushmore? According to a former White House advisor, it's not as far-fetched as it may sound. 'Donald Trump could become a national hero… one of the most powerful Presidents in memory,' says Jim Rickards, a former CIA and U.S. Treasury advisor. 'I won't be surprised if his face gets chiseled into Mt. Rushmore.' Rickards isn't referring to campaign slogans or foreign policy—but to a $150 trillion 'national inheritance' that has remained hidden for generations beneath federal lands. Thanks to a recent Supreme Court decision, he says, that wealth is finally being unlocked. 'It's enough to make every single family in America millionaires,' Rickards explains. 'Enough to pay off the national debt, four times over. This 'trust fund' is not a pile of money to be equally distributed… It's not part of a government program or handout,' Rickards explains. A Legacy Hidden in the Land According to Rickards, the opportunity stems from a provision embedded in Title 30 of the U.S. Code, which he says formed the legal basis for a mineral-rich 'national trust fund' over 160 years ago. 'Despite giving away 10% of all land in the United States… the government retained the most valuable part. For 163 years, it's held on to it.' 'This isn't cash or bonds or gold—it's physical resources buried beneath our feet.' For decades, that wealth was inaccessible—choked off by federal regulations enforced through a legal doctrine known as Chevron. The Supreme Court's Quiet Reversal Changes Everything Rickards says the 2024 repeal of the Chevron Doctrine by the Trump-appointed Supreme Court has now shifted the balance—limiting federal agency power and reopening access to the country's mineral wealth. 'They gave agencies like the EPA 'kill shot' power,' Rickards says. 'We have massive mineral wealth here… but the government got in the way.' 'Now… for the first time in half a century—we can go get them.' With the red tape cleared, Rickards says Trump is laying the foundation for a generational economic shift—one rooted in domestic resource development rather than foreign dependence. About Jim Rickards Jim Rickards is an economist, attorney, and former advisor to the CIA, Pentagon, and U.S. Treasury. Over the course of his career, he helped co-create the Petrodollar Accord, played a key role in the Iran Hostage Crisis resolution, and has advised senior government officials on financial crises and national security matters. Today, Rickards serves as the publisher of Strategic Intelligence, a monthly briefing on critical political and economic developments shaping America's future. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@
Yahoo
26-05-2025
- Business
- Yahoo
Middle Class May Finally Catch a Break as U.S. Eyes Major Tax Overhaul: Former White House Insider
New strategy would eliminate income tax for most workers and replace it with tariffs BALTIMORE, May 25, 2025 (GLOBE NEWSWIRE) -- For over a century, American workers have shouldered the tax burden that fuels the federal government. But that may soon change. According to Jim Rickards—a former White House advisor—Washington insiders are working on a plan that would eliminate income taxes for the middle class and redirect the country's funding model back to tariffs. No More Tax on Wages, Tips, or Social Security? The proposal, Rickards explains, would zero out federal income taxes for Americans earning under $150,000 per year. Instead of taxing citizens directly, the government would fund itself through tariffs on foreign goods. Commerce Secretary Howard Lutnick confirmed the plan's intent: 'Presidents' goal is very simple. To abolish the Internal Revenue Service and let all the outsiders pay.' The Return of Tariff-Funded Government This would not be the first time America has run on tariffs. Before the IRS was created in 1913, the federal government was primarily funded by taxing foreign imports—not citizen wages. Rickards says the difference today is scale. In addition to tariffs, the U.S. could now tap into a mineral reserve worth $150 trillion, including copper, lithium, uranium, and rare earths—all critical to defense, energy, and AI systems. 'These minerals aren't theoretical,' Rickards says. 'They're documented, mapped, and ready. The only thing that stopped us from accessing them was a 40-year legal blockade—which is now gone.' The 2024 Supreme Court reversal of the Chevron Doctrine eliminated the power of federal agencies to stop mining and drilling operations across public lands—clearing the path for what Rickards calls a 'national inheritance' that was sealed off for decades. About Jim Rickards Jim Rickards is a former advisor to the CIA, U.S. Treasury, and Federal Reserve. He served as legal counsel during the LTCM bailout and has advised multiple presidential administrations. He now leads Strategic Intelligence, a research publication focused on financial disruption and national security. Media Contact:Derek WarrenPublic Relations ManagerParadigm Press GroupEmail: dwarren@ in to access your portfolio
