Stanley
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Can you please give me the comprehensive details on President Donald Trump’s External Revenue Service, how it works, the benefits for Americans, and is the Internal Revenue Service going to get abolished? Does this mean Americans do not have to pay federal income taxes?
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President Donald Trump has informed the public about setting up an External Revenue Service (ERS), a new federal agency responsible for collecting tariffs, duties, and revenue from foreign sources. This is part of his economic strategy of “America First,” which aims to create significant revenue for the US Treasury by extracting a portion of trade from foreign actors.
Purpose of an External Revenue Service
The ERS is expected to streamline the collection of the diverse revenues from international trade, including, but not limited to, the following:
- Tariffs: an indirect tax imposed on goods purchased outside the customs territory to foster local businesses and generate tax revenue.
- Duties: particular charges placed upon specific commodities depending upon their quantity or value.
Other foreign-sourced revenues include additional income possibilities resulting from international business dealings.
The ERS seeks to achieve this by enhancing the revenue collection functions that pertain to foreign trade.
The Internal Revenue Service and Federal Income Tax Consequences
While Trump is suggesting the creation of the ERS, there has not been any announcement regarding the dissolution of the Internal Revenue Service. The IRS collects federal income taxes from American citizens and residents. The introduction of the ERS does not fundamentally abolish the IRS, as both agencies would have jurisdiction over international and domestic revenue.
Equally, no official statements suggest Americans would not have to pay federal income taxes with the new order in place. ERS is meant to supplement the tools available for foreign revenue collections instead of substituting them for domestic tax regimes.
Advantages for US Citizens
This means that the US could stand to benefit from ERS in the following ways:
- Increased Revenue: More foreign companies can help improve the US economy.
- Economic Protection: By imposing protective tariffs and duties, domestic industries can survive against foreign competition and save or create jobs.
- Trade Balance Improvement: Promoting equality in trade may mitigate the growing trade deficit.
The imposition of tariffs, however, can potentially drive up the prices of imported goods, which is likely to affect consumers adversely. Economists warn that these policies can also invoke defensive responses from trade partners and cause other more intricate economic effects.
Establishing the External Revenue Service, or ERS, marks a pivot point in the United States’ foreign trade and taxation policy toward revenue collection from abroad. Although it aims to strengthen the American economy, the ERS is not meant to supplant the Internal Revenue Service nor abolish federal income taxation for citizens now. Like most things, policies this drastic will have broad consequences, and citizens ought to be kept in the loop.
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I know all this. This is general information. What I need is the noteable names of the people Joe R. Biden pardoned,
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Stanley
MemberJanuary 21, 2025 at 9:15 pm in reply to: Mortgage-Housing and Real Estate News for Tuesday January 21st 2025Did they catch the Pacific Palisades Los Angeles County Wildfire arsonist? I heard the FBI and law enforcement caught a CEO of a land development company. Can you please give us the details?
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Stanley
MemberJanuary 21, 2025 at 8:58 pm in reply to: Mortgage-Housing and Real Estate News for Tuesday January 21st 2025What alternative revenue streams could replace property taxes?
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Political leaders need to take responsibility for their woke stupidity, arrogance, and power hunger criminal destruction. Los Angeles City Mayor Karen Bass, Governor Gavin Newsom, Kamala Harris, Adam Schiff, and tens of thousands politicians have absolutely no competence nor minimum brain cell to represent their communities.
https://www.youtube.com/live/fblA2LWibAs?si=Fw-pH9Mr-sB1pB6R
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Stanley
MemberJanuary 13, 2025 at 7:15 pm in reply to: Headline News Weekend Edition: January 6th through 12 20251/13/2025
Tucker Carlson has once again exposed the media and the lies about Trump. However, in his interview with Billy Bush, some very interesting proof is shared about Mocking Bird Media and how the Main Stream Media colluded in order to manipulate viewers and destroy Trump. Let’s watch this together.
Elon Musk is calling on Mark Zuckerberg to perform a Twitter file-like act in order to prove he is a new person and be transparent. Musk wants Zuckerberg to release call logs, internal emails, emails, and texts from the Biden administration so Americans can see exactly how the Biden administration, FBI, Fauci, and CIA manipulated Facebook and Instagram to rig an election, silence their enemies, and aid Big Pharma in a massive profit scam on the American people. Do you agree with Elon Musk? Should facebook pull back the curtains and reveal the wizard of OZ manipulating the american people?Gavin Newsom is raising money for fires. What a noble guy. Or is he. Check this out.Trying to look noble. Running money collection through his campaign website. Act Blue keeps 3.95% and he gets to collect phone numbers he can text the next time he runs for office. Elizabeth Warren is doing the same things. These democrats think they are so sneaky. Why not just run this through Judge Juan Merchan’s daughter?
Are the globalists gearing up for a pandemic scare after failing at the ballot box in November? Just weeks before President Trump’s inauguration, California Governor Gavin Newsom has declared a Bird Flu State of Emergency, granting himself sweeping powers reminiscent of COVID-19 policies. This comes after a severe case of H5N1 bird flu was reported in Louisiana.
Critics, like Nicholas Hulscher, warn that pandemic fears may be weaponized to challenge Trump’s agenda, including the nomination of RFK Jr. to lead HHS.Is this a health crisis—or a power play?
Last summer, Dr. Peter McCullough warned about the bird flu, linking the virus’s rapid spread to gain-of-function research, now a common practice at many labs globally. Dr. McCullough urges early prevention just in case, recommending a Contagion Emergency Kit from The Wellness Company, his medical board-approved solution with five critical life-saving medications—like Ivermectin, Tamiflu, A Nebulizer, and Hydroxychloroquine—every household can now have access to these hard-to-get medications in the event of another pandemic. Get yours by filling out a digital intake form, and your kit arrives in 1-2 weeks. Don’t wait until the deep state puts their plans into action.
Charlie Kirk just put out a great summary of this disaster… California politicians have spent years virtue signaling, and of course the environment. What has that delivered? Budget cuts to essential city services. Record state deficits.
A lack of water after two years of record rainfalls.
Crumbling infrastructure.
The highest taxes in the country. The nation’s least friendly business environment. Record poverty. Record homelessness. 39,000 acres of burnt cityscape, twice the size of Manhattan. Nearly 13,000 homes were destroyed. thieves and organized foreign gangs looting and robbing abandoned homes. And a plume of toxic smoke billowing into the atmosphere for weeks when this is over. And what’s worse is the federal government—the American taxpayer—will have to bail them out to the tune of tens of billions of dollars. Federal aid MUST be tied to serious reform. Where California refuses to bring order to their self-inflicted chaos, the consequences must be felt by its politicians, or change will never happen.
Save Californians. Hold California’s failed politicians accountable.
Charlie Kirk also exposed a serious situation.
Unbelievable. Thieves are dressing up as fire fighters to burglarize abandoned homes. Nearly 30 have been arrested so far. Throw the book at these despicable humans. Name and shame them. There must be ZERO tolerance. Hard to imagine a punishment too harsh. At least on this one, Governor Gavin Newsom retweeted it, saying he agrees these are the lowest of the low and will be prosecuted. Tucker Carlson EXPOSES Huge Story as Gavin Newsom UNMASKED as LIAR!!
https://youtu.be/5jrDKjGC7S4?si=MNlYYD5z3JrOHzPa
- This reply was modified 2 weeks, 2 days ago by Gustan Cho.
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The California Wildfires in Pacific Palisades in Los Angeles County are going to change the landscape of California forever. Estimated cost of the Pacific Palisades DEI & LGBT WILDFIRES is $150 billion dollars. Lives were destroyed. 24 people were dead and 100,000 people evacuated. Politicians talking out of there asses. Homes that were in the family for multiple generations are gone. MEMORIES DESTROYED. Here is an informative video about the California Pacific Palisades Wildfire in Los Angeles County:
Alexandra Pfeifer’s house burned down in the wildfires. She is also a realtor specializing in the Pacific Palisades, where many of her client’s homes have gone up in smoke. Los Angeles City Mayor Bass cut $17 million from the budget of the Los Angeles City Fire Department. California Governor Gavin Newsom had the reservoirs depleted of water because they were more concerned about some minnows, a type of fish called smelt fish. Watch the attached heartbreaking story from a Pacific Palisades real estate agent’s story of how her house burned to the ground.
https://youtu.be/JlUSLYU-N2I?si=N57ljsyEWFcW2xy-
- This reply was modified 2 weeks, 2 days ago by Gustan Cho.