Does this sound fair? MAGA Republicans have a "fair" tax plan to hit American families with a 30% national sales tax on everything from groceries and gas to rent and health care. It's not fair to impose taxes on working people, while giving massive tax breaks to the ultra-rich.
Correct, it would replace the payroll taxes alongside income and business taxes. Those payroll taxes are probably the most regressive of today's federal taxes.
The FairTax rate is revenue neutral, in that the sales tax will end up paying for those safety nets.
How do you get that it's fair? Imagine living in areas where the average yearly income is 30K or less per person, and hitting them with that 30%. They won't be able to eat. Yet the rich ppl it won't even cause them any problems at all. So how is it fair? The consequences aren't.
If the average yearly income is 30k or less, their effective tax rate will be close to 0%, because there is a monthly prebate of the tax rate times the poverty level that is sent out to households under the plan.
The “Fair Tax” (I know. This was never a thing. Exposure to sunlight killed it.)
But this needs to be said.
The Fair TAx promises to abolish the IRS and…drum roll…create 3 new tax agencies:
Federal Excise Tax Bureau
Federal Sales Tax Bureau
Office of Revenue Allocation
And the three of these combined are significantly less intrusive and ominous than the IRS, if you look what they actually are tasked with doing.
congress.gov/bill/118th-cong…
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The MAGA Republican so-called fair tax plan is the worst yet.
It’s a real doozy.
It would impose a 30% tax on everything.
It would be devastating to just about every American family.
Watch me and @RepJeffries:
You could say the same thing whether it's the current tax system or the FAIRtax, but at least with FAIRtax it's much easier for citizens to figure out if their taxes have gone up.
The current tax system is designed to obfuscate that, including "payment withholding" & "refunds".
You are unfamiliar with the details of the bill.
Did you know there is a monthly prebate that makes the sales tax progressive? The prebate untaxes up to the poverty level, effectively having poor households pay no tax because they get money to pay for it.
congress.gov/bill/118th-cong…
koopatv.org/2023/01/pocket-c…#PocketCardJockey big fan Ludwig cannot play Pocket Card Jockey: Ride On! due to its Apple Arcade exclusivity, but he can observe that it appears to be a remake of the 3DS Pocket Card Jockey. Let's talk 'bout it.
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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.
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%.
congress.gov/bill/118th-cong…
If you read it and not the distorted lies provided to you by the media and certain Democrat politicians, you'll appreciate it.
koopatv.org/2023/01/fire-emb…
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Name the 2/3 of the US House/Senate that would vote to repeal the 16th amendment that allows an income tax?
Name the 3/4 of the states that would have their house & senate both vote to do same?
The Democrats will put the income tax back as soon as they have the congress/prez
Perhaps not in this Congressional session, but maybe if a real "Red Wave" occurred, or Democrat legislators will sign on to the idea because their constituents will demand it. Right now they dislike it because the media and politicians are lying about it. In practice? We'll see.
Advocates of the "FAIR tax" say their bill will eliminate federal income and payroll taxes and create a national sales tax as a replacement.
But the US constitution (16th amendment) allows any future D congress/president to restore the income tax.
Then we have two tapeworms
In 2 yrs, Biden and Washington Democrats...
- increased spending by $10 trillion
- fueled the worst inflation crisis in 40 yrs
- sparked an interest rate hike larger than the past 15 years combined
House Republicans are getting to work providing relief for American families.
First GOP bill: Make it easier for business owners to cheat on their taxes.
Second bill: Large tax increase on the bottom seventy percent of the income distribution to cut taxes for the rich.
New: Rep. Buddy Carter confirms to me that his Fair Tax Act will get its first-ever floor vote as part of speaker talks. Bill abolishes IRS, eliminates tax code, replacing income taxes with consumption tax - rolling back pieces of GOP tax law
It was a demand of the 20 holdouts