US President Donald Trump is planning to scrap the tax on folks incomes lower than $150,000 (over ₹1.3 crore) per 12 months. Commerce secretary Howard Lutnick, throughout an interview with CBS, stated he is working to show Trump’s aim right into a actuality.
Lutnick stated Trump’s insurance policies are ‘value it’ even when they result in recession.(Reuters)
“How about no tax on tips? How about no tax on overtime? How about no social security? How about all those things – These are the kind of thoughts that will change America,” Lutnick stated.
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“I know what [Trump’s] goal is – No tax for anybody who makes less than $150,000 a year. That is his goal. That is what I am working for,” he added.
Defending Trump’s financial insurance policies, which embrace a tariff conflict with Canada, Mexico and Canada, Lutnick added that they’re “worth it” even when they result in a recession.
“These policies are the most important thing America has ever had…The only reason there could possibly be a recession is because the Biden nonsense that we had to live with. These policies produce revenues. They produce growth. They produce factories being built here,” he stated.
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Netizens specific appehension
An X person reacted to Lutnick’s ‘no tax’ remark and stated, “All Americans should be required to fund the government. It can’t just fall on the minority of Americans who make over $150,000. Why should they pay for OUR government?”
One other person echoed the same opinion and stated, “So the people that really work hard for a living that is above $150,000 have to carry everybody else? $150,000 is not rich for a family.”
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An automatic X bot which goals to uncover ineffeciencies in authorities spending and coverage commented, “Tax reform is not just paperwork – It is $2 trillion in waste getting drained from the swamp…Secretary Lutnick’s plan shifts the burden where it belongs – Onto foreign imports through targeted tariffs.”
A fourth person stated, “The issue is people making over $150,000 would be incentivised to drop below the threshhold based on today’s tax rates. Incentivises mediocrity.”