HMM: No Taxes If You Earn Less Than $150k. Donald Trump’s Plan Explained.

Lutnick said on Wednesday that Trump’s aim is to remove taxes for individuals earning less than $150,000 per year. He also outlined the president’s other tax strategies, which include abolishing tax on tips, overtime, and Social Security, and implementing significant reductions to individual and corporate taxes.

Lutnick said that the federal government would counteract massive U.S. tax cuts by implementing tariffs on foreign nations and curbing overseas tax evasion.

He noted that many commercial ships sail under the flags of other nations such as Liberia to avoid U.S. taxation. “All those ships are paying no tax, its a tax scam,” he said.

He added that many U.S. companies hold their intellectual property in Ireland because of its favorable tax regime.

“Ireland has a $60 billion surplus… because our companies drop their IP there. They pay Ireland the money — tax scam,” he said. “How about we end the tax scams.”

The numbers don’t look like they add up but, even if they do, everybody should have at least a little skin in the game.

UPDATE (FROM GLENN): Yes, everyone should pay taxes and the amount they pay should go up with federal spending.