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Could Donald Trump's 'External Revenue Service' Work? Analysts Respond

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President-elect Donald Trump has announced he will create a new "External Revenue Service" to collect income on goods from other countries when he takes power next week. Newsweek has contacted the Trump transition team for comment via email.
The article from MSN discusses the potential implications of Donald Trump's proposal for an "external revenue service" as part of his plan to replace the IRS. Analysts have mixed reactions to this idea. Some see it as an attempt to simplify the tax system by outsourcing tax collection to private entities, potentially reducing government bureaucracy and increasing efficiency. However, critics argue that this could lead to significant privacy concerns, conflicts of interest, and might favor large corporations over individual taxpayers. There are also concerns about the feasibility of such a system, including how it would be regulated, the potential for corruption, and whether it would truly reduce costs or complexity for taxpayers. The proposal remains in the realm of political rhetoric, with no detailed plan on how it would be implemented, leaving many questions unanswered about its practicality and effectiveness.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/news/politics/could-donald-trump-s-external-revenue-service-work-analysts-respond/ar-AA1xjN0g ]