Kevin McCarthy Introduces “Fair Tax” Which Would Abolish Federal Income Tax
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hell to the fucking no. this bill would be a tax increase for everyone who spends money in America. effectively raising all of our income taxes to 30%, only it's collected whenever we spend money. This would stagnate the economy, and be especially tough on low income individuals.
I agree with the approach, but the percentage of that sales tax is just way too high. it's almost as if this bill is designed to fail so that they could say
maybe if they exempted this tax on things like food and utilities It might be worth it.
It's also a method to tax proceeds from crime