I would love to see them completely close the IRS and do away completely with income taxes, however I think thats very unlikely.

However, I think Trump & Co could make changes to IRS that effectively nullify it. Some thoughts:

• Provide a common flat tax across all types of income: 10% for ordinary income or capital gains. I honestly think a much lower tax could result in close to existing or greater tax receipts. If someone wants to take 38% of your income + inflation, there is a very strong incentive to do clever accounting.....at a more sensible tax rate, its less cost and hassle to just pay the tax instead of the accountant.
• Update tax brackets to be inflation adjusted since inception. (eg. minimum tax bracket of $75,000, so effectively a 75K exemption)
• Provide inflation write-off for capital gains. For example, if you invest 100K in something and 10 years later its worth 500K....you get to write off the inflation from that 400K "gain" when you sell...its absurd that you are (a) taxed on the income pre-investment, then (b) they inflate the currency at 3-4% per year, so you are forced to "invest", then (c) they tax you on the inflation they caused you when you sell.