Seems like the fastest way to tank the economy to me. Thoughts?

This post was edited by foxnews on Jan 20 2023 04:21pm

post a reference

Don't we already have around a 50% tax under Biden?

https://www.khou.com/amp/article/news/verify/taxes-verify/house-gop-bill-create-national-sales-tax-abolish-irs-fact-check/536-f74c49e3-04ca-4214-9f12-68c443fd123b

also https://buddycarter.house.gov/uploadedfiles/text_fairtax_act_118th.pdf



Tell me you don’t know how taxes work without telling me how you don’t know how taxes work. You probably don’t even realize tax brackets are progressive. I’m doubtful you make enough to pay 50% income tax, and if you do, you need to hire a new financial advisor.

This post was edited by foxnews on Jan 20 2023 04:45pm

Amazing. You actually tell me I'm wrong and right in the same response.

Reading comprehension is hard for you I see.

i dont have time right now to look at it. is the claim increase sales tax while getting rid of the IRS? because that would be different than just raising sales tax.

A $100 purchase would bring the cost to $130 + state sales tax. Most people would effectively be paying more in taxes. That’s how I read it.

Edit. Effective tax rate on $200k/year is like ~23%

This post was edited by foxnews on Jan 20 2023 04:57pm

it would be 30% minus what sales tax already is. its a selling point if they are offering to trade the added sales tax and get rid of the thugs at the IRS. but all in all you/we would probably end up with both.
i califorina we are at 7.25% 30-7.25=22.75 which would be a better deal than 23% (and the lefties would REEE about it being lower
then its potentially funnier though cause in other states it would be higher and they would REEEEEEEE about that also.........

I works ofc but only if it's fair, examples;

- No tax for for basic food, medical care...
- Normal tax for cars, computers...
- Double tax for sport cars, luxury alcohols...

It's almost sure US Republicans will not do it fair, I think they don't even have the competencies in their ranks to make it properly.

/e In my country VAT = 40% of national revenue

This post was edited by Meanwhile on Jan 20 2023 05:23pm