President Trump on Tuesday ignited excitement amongst taxpaying Americans by boldly predicting they could soon bid farewell to income taxes entirely. While incredibly ambitious, the president’s plan would usher in a hitherto undreamt-of world of tax freedom for hardworking families.
(Apologies, having just watched Avengers with my granddaughter, the Dr. Strange line “hitherto undreamt-of is fresh in my mind.)
Can he do it, though? Trump sure thinks so.
Speaking to reporters, the president teased the White House’s aggressive exploration of alternative revenue streams, which already include tariffs and trade war resets with numerous countries. The result, perhaps? No income taxes for you.
Trump told reporters the American people “at some point in the not too distant future … won’t even have income tax to pay.”
“Whether you get rid of it or just keep it around for fun or have it really low, much lower than it is now, but you won’t be paying income tax,” he continued.
BREAKING: President Trump just announced he expects the income tax to be ABOLISHED soon.
This would be the single greatest economic move in American history. Imagine taking home 100% of your paycheck?
The economy would explode overnight. 🚀 pic.twitter.com/aJYqvkUNQy
— Ryan Fournier (@RyanAFournier) December 2, 2025
READ MORE: An Economist’s Take on Tariffs: They May Be Bad, but Income Taxes Are Worse
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Let’s uh, let’s not “keep it around for fun.”
Skeptics—and there will be many—will suggest this is an example of the President over-promising on something and setting voters up for disappointment.
Joseph Lavorgna, an economist who serves as counselor to Treasury Secretary Scott Bessent, does not appear to be in that camp. He recently wrote an op-ed insisting Trump “is making life affordable again for every American,” citing the One Big Beautiful Bill Act.
“From higher take-home pay for hardworking families to tax incentives that will drive a disinflationary boom, the One Big Beautiful Bill was engineered to Make America Affordable Again,” Lavorgna writes. “This historic tax reform will ensure that Main Street prospers alongside Wall Street in President Trump’s Golden Age economy.”
Could President Trump deliver a Golden Age for our wallets or our personal bank accounts? Improving the conditions of both is an absolute must before the midterms.
Bessent, meanwhile, spoke at the cabinet meeting, predicting increased tax refunds and wage growth in the coming months.
.@SecScottBessent: “In 2026, we are going to see very substantial tax refunds in the First Quarter… We’re going to see real wage increases. I think next year is going to be a fantastic year.” pic.twitter.com/3XTBD8wK7q
— Rapid Response 47 (@RapidResponse47) December 2, 2025
Trump’s prediction of a world without income taxes for the American people is in line with previous comments and with the establishment of the “External Revenue Service,” which he mentioned in his inaugural address.
“Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens,” he said at the address. “For this purpose, we are establishing the External Revenue Service to collect all tariffs, duties, and revenues. It will be massive amounts of money pouring into our Treasury, coming from foreign sources.”
“The American dream will soon be back and thriving like never before.”
A key goal of Trump’s fair-trade policies is to shift the U.S. tax base from one primarily reliant on income taxes to one that takes in revenue from other streams. Tariffs, though they have their detractors, are a primary source.
“It’s time for the United States to return to the system that made us richer and more powerful than ever before,” he said back in January. “Instead of taxing our citizens to enrich foreign nations, we should be tariffing and taxing foreign nations to enrich our citizens.”
Fox News reports that his latest comments mark the most explicit endorsement yet of eliminating income taxes.
“If enacted, abolishing income tax would mark the most ambitious overhaul of the American tax system in more than a century,” they surmise.
It takes an ambitious man to make such sweeping changes to the benefit of the American people.
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