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The reason it won't get passed is becsue the tax is now exposed to the consumer instead of hidden in the cost of the product. A 23% tax itemized on a bill of sale is something even someone with the lowest IQ can understand. When they realize how much of their money is actually going to taxes they are going to revolt.
States, such as NY that have sales taxes, have the Department of Taxation and Finance, that essentially is New York's IRS. They collect these taxes.
There is a tremendous amount of sales tax evasion. I can't tell you how many contractors tell me that if I pay in cash they won't charge tax. I can only imagine how much evasion there would be if the rate was 23%.
How much income tax evasion is there? And who does it the most? Very wealthy people, with lawyers and accountants.
Yes - there would be sales tax evasion at 23%. But the vast majority of consumer transactions are done at a point of sale terminal. And sales taxes are captured reliably.
....ooops almost forgot the other reason it won't pass. There is a whole lot of accountants, tax lawyers and business like H&R Block that are going to lose their shirts since they will no longer be required. Taxes are a huge industry with a tremendous amount of influence.
so from the response it sounds like the main reason it won't pass is because it will mean government will have less power.. its sad such a revolutionary idea will be shunned simply because it will take a few coercive powers away from DC.
so from the response it sounds like the main reason it won't pass is because it will mean government will have less power.. its sad such a revolutionary idea will be shunned simply because it will take a few coercive powers away from DC.
Those in power will always find a pretense to expand and prolong their power.
How much income tax evasion is there? And who does it the most? Very wealthy people, with lawyers and accountants.
Yes - there would be sales tax evasion at 23%. But the vast majority of consumer transactions are done at a point of sale terminal. And sales taxes are captured reliably.
She also had an obsession with avoiding taxes. Caught up in a sting involving Van Cleef & Arpels, she received immunity for testifying that jewelry-store employees allowed her to walk out with thousands of dollars of baubles and shipped empty boxes to her out-of-town residences to save on sales tax. After she and Harry stiffed the contractors renovating their 28-room Greenwich home, disgruntled employees alerted the Post about the Helmsleys’ curious habit of charging pricey renovations (a marble dance floor, a $130,000 stereo system) to corporate accounts. Enter crusading prosecutor Rudy Giuliani.
Charged with 235 counts of tax evasion, Harry, a frail 80-year-old, was found unfit to stand trial, so Leona was left to face her employees’ revenge. The high point: housekeeper Elizabeth Baum’s recounting that Leona told her “We don’t pay taxes, only the little people pay taxes.”
Even with isolated individual cases of tax evasion, the actual average effective federal income tax rates by income group tell the facts as they really are ...
Top 0.1%: 22.84%
Top 1%: 23.39%
Top 5%: 20.64%
And then a HUGE effective rate drop-off below the top 5%...
Top 5-10%: 11.98%
Top 10-25%: 8.70%
Top 25-50%: 6.01%
Bottom 50%: 2.37% Summary of Latest Federal Income Tax Data
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