Americans despise the Internal Revenue Service, the government agency empowered to take their money at the end of a gun. But how about an External Revenue Service, an agency tasked to collect money for the people?
That’s the idea floated by President Donald Trump as he begins his second term. Instead of draining the working class to fund Washington, the billionaire businessman wants to tap other sources, such as tariffs on the foreign goods that flow into America. Or opening lands for gas and oil, industries that will drive the economy and generate revenue to pay the country’s bills.
With the nation sitting on a $36.3 trillion debt and warnings that safety net programs such as Social Security, Medicaid, and Medicare could face insolvency, Trump needs the country to be a money maker. The citizens deserve it. Going back to World War Il, American lives and ingenuity liberated the free world, and they have funded multiple wars since, including the current conflict in Ukraine. They have financed Democracy in places they’ve never heard of, and it is their full faith and credit, their ability to keep the dollar stable, that enriches billionaires and millionaires across the globe. When is it their turn to reap the rewards?
Before even setting foot back in the Oval Office, Trump exposed the country’s raw deal at the Panama Canal, a vital waterway built by American know-how and treasure. Getting ships from one ocean to the other at a reduced rate will save money and give consumers a break. Trump’s strategy is a military play as well since China has long recognized the value of the canal and has positioned itself to control it, a situation that will result in higher costs, if not worse, for Americans.
“We will begin charging those that make money off of us with trade, and they will start paying,” Trump stated on his social media site, Truth Social. He compared his new creation to the Internal Revenue Service, which is the nation’s domestic tax collector. “For far too long, we have relied on taxing our great people using the IRS. Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the world while taxing ourselves.”
Trump’s talk of tariffs is not only a revenue move but also gives him leverage on other countries to open their doors to American goods. He frequently calls out Europe for restricting the sale of U.S. autos while they flood the zone with their products. He knocks China for forcing American businesses to fork over trade secrets, which they then use to compete against us. Our country has the world's most vibrant consumer base, and other nations should be charged an admission price to tap it, the President believes. This goes for goods as well as global financing, which relies on money from U.S. pension funds and access to our stock markets.
Shortly after his reelection, Trump wondered aloud why the U.S. subsidizes Canada to the tune of $200 billion a year and said he could easily replace its milk, timber, and vehicles with goods made in America. His revelation set off such a tsunami of angst to the north that Canada’s prime minister, Justin Trudeau, resigned from office.
Trump’s plan to get the country back on track financially bore fruit before he even returned to the Oval Office. He announced an Artificial Intelligence investment in the U.S. by Japanese businessman Masayoshi Son that could go as high as $200 billion and $20 billion by United Arab Emirates businessman Hussain Sajwani for new data centers.
After years of Bidenflation and an administration that seemed to care about the economic well-being of everyone but U.S. citizens, the second coming of Trump is like an answered prayer. People hope that his focus on the bottom line will put dollars back in their pockets and reduce the stress of having to live paycheck to paycheck with limited prospects for retirement.