Trump's Bold Move: Introducing the External Revenue Service

In a surprising announcement, President-elect Donald Trump has revealed his intention to establish a new government entity known as the "External Revenue Service" aimed at collecting tariffs, duties, and all forms of revenue from foreign sources. This move, shared through a Truth Social post, signifies a significant shift towards altering how the United States manages its trade and tax policies.

Trump's proposal aims to reduce the reliance on domestic taxation through the Internal Revenue Service by focusing on international revenue streams. He argues that through what he describes as "soft and pathetically weak" trade agreements, the American economy has inadvertently funded global prosperity. His vision for the External Revenue Service is to ensure foreign entities "start paying, FINALLY, their fair share."

This initiative has sparked a wide range of reactions:
Supporters see it as a bold step towards rebalancing trade agreements in favor of the U.S., potentially boosting domestic industries and reducing the tax burden on American citizens.
Critics, including top Democrats like Senator Ron Wyden, have labeled this as a "silly rebranding" and warn that it might just be a cover for imposing what they describe as a "multitrillion-dollar tax hike" on American families and small businesses to fund tax cuts for the wealthy.

The creation of such an agency would require Congressional approval, adding another layer of complexity to Trump's plan. With Republicans holding majorities in both the House and Senate, the feasibility of this initiative could hinge on legislative support and the detailed structuring of how this new service would operate.

In this video, we delve into:
The specifics of Trump's External Revenue Service proposal
Analysis from economic experts on the potential impacts
Political reactions from both sides of the aisle
Historical context of U.S. tariff policies and their effects on the economy

Stay tuned for a deep dive into what this could mean for America's economic landscape, international trade relations, and daily life for American taxpayers. Don't forget to like, subscribe, and hit the bell icon for more updates on this and other pivotal political developments as we move closer to Trump's second term inauguration.