The Plan to Dismantle the IRS Is Already in Motion, Says Former CIA Insider

New federal strategy could shift tax burden away from citizens—and tap into buried national wealth

/EIN News/ -- BALTIMORE, May 24, 2025 (GLOBE NEWSWIRE) -- After more than a century of collecting wages from American workers, the Internal Revenue Service may soon be facing extinction. That’s the claim from Jim Rickards, a former CIA advisor and legal strategist to the White House and U.S. Treasury.

According to Rickards, the plan centers around a three-part strategy:

1. Eliminate income taxes for the middle class
2. Redirect revenue through tariffs on foreign imports
3. Monetize the $150 trillion worth of mineral wealth locked beneath U.S. soil
   

America’s Middle Class May Finally Be Off the Hook

The proposal—now being shaped by Trump’s economic team—would end federal taxes on wages, tips, and Social Security for Americans earning under $150,000 per year.

And according to Howard Lutnick, Trump's Commerce Secretary, the goal couldn’t be clearer: “Presidents’ goal is very simple. To abolish the Internal Revenue Service and let all the outsiders pay.”

Instead of taxing everyday Americans, the government would collect from international trade. But what no one has said yet is the potential Rickards sees in resource royalties—particularly from vast, untouched deposits on federal land.

The Untapped Treasury Beneath Our Feet

Rickards ties the feasibility of the plan to a recent legal shift: the 2024 Supreme Court decision that overturned the Chevron Doctrine. That ruling stripped federal agencies of their ability to block resource development—unlocking what Rickards calls America’s “forgotten reserve.”

“This is real, physical wealth,” he explains. “Copper, lithium, uranium—enough to fuel A.I., energy, defense, and wipe out the national deficit.”

Estimates value these assets at $150 trillion, with documented concentrations including:

• $3.1 trillion in Nome, Alaska
• $7.35 trillion in Midland, Texas
• $516 billion near the Salton Sea
  

Rickards outlines the full implications in a new briefing The American Birthright, which connects the Supreme Court ruling, the mineral reserve, and a plan to replace income tax with a sovereign wealth strategy.

About Jim Rickards

Jim Rickards is a former legal and economic advisor to the CIA, Pentagon, and U.S. Treasury. He now serves as editor of Strategic Intelligence, a financial and geopolitical research service focused on American economic resilience and wealth protection.

Media Contact:
Derek Warren
Public Relations Manager
Paradigm Press Group
Email: dwarren@paradigmpressgroup.com