The James Altucher Show

Notes from James: What if I told you that we could eliminate the IRS, get rid of personal income taxes completely, and still keep the government funded? Sounds impossible, right? Well, not only is it possible, but historical precedent shows it has been done before. I know what you’re thinking—this sounds insane. But bear with me. The IRS collects $2.5 trillion in personal income taxes each year. But what if we could replace that with a national sales tax that adjusts based on what you buy? Under my plan: Necessities (food, rent, utilities) 5% tax Standard goods (clothes, furniture, tech) 15% tax Luxury goods (yachts, private jets, Rolls Royces) 50% tax And boom—we don’t need personal income taxes anymore! You keep 100% of what you make, the economy booms, and the government still gets funded. This episode is a deep dive into how this could work, why it’s better than a flat tax, and why no one in government will actually do this (but should). Let me know what you think—and if you agree, share this with a