Latest news with #TheAmericanBirthright
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
23-05-2025
- Business
- Yahoo
Can Tariffs Replace Taxes? Ex White House Advisor Says Yes
2025 plan could eliminate income tax—and redirect trillions back into the U.S. WASHINGTON, May 23, 2025 (GLOBE NEWSWIRE) -- According to former White House and Pentagon Insider Jim Rickards, two major shifts are now unfolding: the possible closure of the IRS and the unlocking of a $150 trillion natural resource windfall beneath U.S. soil. 'For decades, we've watched trillions flow out of this country—to China, to global banks, and to a dysfunctional tax system,' Rickards says. 'But that drain may finally be shutting off.' Rickards, a veteran intelligence analyst and advisor to four U.S. presidential administrations, believes the Supreme Court's 2024 Chevron ruling was the first domino. It could clear the path to access enormous U.S. mineral reserves that had been frozen by environmental red tape for nearly 50 years. A Tax System Designed to Fail? At the same time, Rickards says a new plan gaining traction inside Trump's economic team could end income taxation for the working and middle class—replacing it with tariffs. The plan would eliminate taxes on wages, tips, Social Security, and even small business income for Americans earning under $150,000 per year. In its place: revenue from imported goods. 'Presidents' goal is very simple,' said Howard Lutnick, Trump's Commerce Secretary. 'To abolish the Internal Revenue Service and let all the outsiders pay.' Where Would the Money Come From? According to Rickards, that question already has an answer: a dormant federal reserve of mineral wealth valued at over $150 trillion. 'This reserve is not hypothetical,' he explains. 'It's real. It's documented. It's mapped. The only reason we haven't accessed it is because of legal sabotage.' Rickards highlights data showing massive holdings across federally controlled land: $3.1 trillion in Nome, Alaska $7.35 trillion in Midland, Texas $516 billion in California's Salton Sea region In his new interview The American Birthright, Rickards outlines how these mineral-rich zones—once off-limits—may now power a sovereign wealth engine for the U.S., just as similar reserves did in Norway and the UAE. A New Era of National Funding? Rickards cautions that while change won't happen overnight, the framework is being put in place now—and fast. He believes this dual strategy—cutting income taxes and activating the country's real, physical wealth—could finally put the U.S. on the same footing as the world's most resource-wealthy nations. About Jim Rickards Jim Rickards is a former advisor to the CIA, Pentagon, U.S. Treasury, and Federal Reserve. He has advised government officials on financial warfare and systemic risk, and currently serves as the editor of Strategic Intelligence, a research advisory focused on geopolitics and wealth protection. 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
