It's been a week since House Republicans introduced one of the most radical pieces of legislation in the history of America (the McCarthy 30% sales tax) and there's been 0 coverage.
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Isn't 23% and it removes income tax, wealth tax, and estate tax...basically a 23% flat tax for everyone?
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It's not a flat tax for everyone; there is a monthly prebate that makes the tax progressive, where the poorest families will actually have a negative tax (gain money) while the people who spend the most have a tax rate that approaches the 23%.
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They'll gain money by purchasing something? This makes no sense, flat tax for everyone. Keep every penny of pay and if you spend a lot, you pay a lot, spend little, pay little. Seems to make sense to me.
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Replying to @Chappy6189 @RachelBitecofer
The process works like this... February 1: Receive prebate based on tax rate * poverty level Month of February: Spend money on whatever you choose, paying sales tax. You don't report anything to government. (Businesses do to states) If prebate > tax paid in Feb, you gained $$.

Jan 26, 2023 路 3:05 PM UTC