Vivek Ramaswamy has indeed been vocal about rethinking the U.S. tax system, including calls to eliminate the federal income tax. While he hasn’t held an official government role as of now, his stance aligns with his broader push to shrink federal bureaucracy, notably through his involvement with the Department of Government Efficiency (DOGE), co-led with Elon Musk under President Trump’s administration.
Ramaswamy argues that income tax is an overreach, famously saying, “It is your money, not the government’s,” and suggesting that scrapping it would “starve the beast”—the beast being the sprawling federal apparatus he blames for inefficiency and overregulation.
During his 2024 presidential campaign, he pitched a 12% flat tax on all income types—personal, corporate, capital gains—with no deductions, aiming to simplify the system and ditch the IRS entirely, folding its basic functions into the Treasury. More recently, posts on X from late 2024 and early 2025 show him doubling down, framing income tax abolition as a way to choke the “deep state” by cutting its revenue stream. He ties this to economic freedom, claiming it’d let Americans keep more of what they earn and force the government to live within stricter means.
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The idea’s not new—Ramaswamy echoes past GOP figures like Steve Forbes with his flat-tax vision—but his total elimination rhetoric ramps it up. Critics, though, point out the math: income tax brought in $2.6 trillion in 2024, over half the federal budget. Replacing it would mean massive spending cuts (Social Security, Medicare, defense?) or a huge new revenue source, like Trump’s tariff proposals.
Ramaswamy’s light on specifics there, often pivoting to growth promises—5% GDP annually—to offset losses, a target economists call optimistic given recent U.S. averages around 2-3%. Sentiment on X leans enthusiastic among his base, with posts praising the “your money, not theirs” line, but skeptics question feasibility without a clear alternative.
His exit from DOGE in January 2025, amid a flap over H-1B visas and culture comments, hasn’t dimmed the buzz—he’s hinting at a future run, maybe Ohio governor, where this tax stance could be a centerpiece. For now, it’s a bold idea stirring debate, but it’s miles from policy reality.
Vivek Ramaswamy’s Strive Asset Management has indeed made waves by filing with the U.S. Securities and Exchange Commission (SEC) on December 26, 2024, to launch the Strive Bitcoin Bond ETF. This move signals a bold step into the intersection of traditional finance and cryptocurrency, aiming to give investors exposure to a unique niche: convertible bonds issued by companies that use the proceeds to buy Bitcoin.
The ETF is designed to be actively managed, with at least 80% of its notional exposure focused on these “Bitcoin bonds,” primarily targeting firms like MicroStrategy, which has poured over $27 billion into Bitcoin since 2020, using bond issuances to fund its crypto treasury strategy. Other companies in the mix could include Metaplanet, Riot Platforms, and Marathon Digital, all of which have leaned into Bitcoin via similar financial maneuvers.
The fund plans to invest directly in these bonds or through derivatives like swaps and options, balancing the rest with short-term, high-quality assets like U.S. Treasuries for liquidity. This approach offers a way for investors to tap into Bitcoin’s potential without holding the cryptocurrency itself, sidestepping some of its wild price swings.
Strive’s filing comes amid a crypto-friendly vibe in the U.S., boosted by Donald Trump’s election win and his administration’s pro-Bitcoin signals—Ramaswamy, a Trump ally and co-leader of the Department of Government Efficiency (DOGE) with Elon Musk, is well-positioned to ride this wave.