Payam Javan: President Donald Trump has reignited his aggressive economic agenda, promising a seismic shift in America’s federal revenue system through sweeping tariff policies. In a recent Truth Social post, Trump outlined how increased tariffs and renegotiated trade deals could generate enough revenue to significantly reduce or even eliminate income taxes, particularly for those earning less than $200,000 annually. This move, he claims, will create a “bonanza” for the U.S. economy, spurring job creation through new factories and plants while dismantling the predatory practices of a corrupt establishment that has enriched itself at the public’s expense for decades.

Central to Trump’s vision is the establishment of an External Revenue Service (ERS), a Day One priority outlined in his “America First Trade Policy” memorandum issued on inauguration day. The ERS would collect tariffs, duties, and other trade-related revenues, potentially replacing the Internal Revenue Service (IRS), which Trump and his supporters view as a symbol of overreach. By leveraging tariffs to extract concessions from global rivals like China, Trump aims to fund domestic tax relief and reshape the economic landscape, targeting the lower and middle classes for immediate benefits.

Trump’s broader mission appears to extend beyond economics, taking aim at a domestic “establishment” he accuses of hollowing out middle America through confiscatory taxes and endless wars. By replacing the IRS with the ERS, Trump seeks to dismantle the structures that have enriched Washington, D.C.’s elite while impoverishing ordinary citizens. If successful, this radical restructuring could cement Trump’s legacy, with supporters already envisioning his likeness on Mount Rushmore—potentially funded, as one quip suggests, by the defunct IRS budget.