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We should eliminate the federal income tax and replace it with a national sales tax. We should also eliminate state income tax and increase state sales tax.
This way all the illegal or under the rug type of money would be taxed.
Hire the IRS to handle all national sales tax, that way they are not unemployeed.
Increase people's income that are on social security the same percentage of the national income tax rate.
It would free up everyones time, just look at the statistics on how much time is spent preparing income tax.
We should eliminate the federal income tax and replace it with a national sales tax. We should also eliminate state income tax and increase state sales tax.
This way all the illegal or under the rug type of money would be taxed.
Hire the IRS to handle all national sales tax, that way they are not unemployeed.
Increase people's income that are on social security the same percentage of the national income tax rate.
It would free up everyones time, just look at the statistics on how much time is spent preparing income tax.
Discussed and debunked. Rich would circumvent federal sales tax by purchasing big ticket items outside of USA. Foreign nations would be happy to sell to wealthy Americans cheaply with little or no shipping fees.
Poor Americans would buy "hot" items from illegal USA underground operations to avoid federal sales tax> Poor people could not afford it and would purchase everything underground, causing a new major criminal element. American businesses would have less exports because the federal sales taxes would raise the prices for foreigners too. In other words, Federal sales taxes would kill American economy at home and abroad.
I think it would be terrible for the economy. Most states already have a sales tax. Add a federal sales tax and you'd be looking at a total sales tax rate of about 30% on everything you buy. No thanks.
I'd prefer to see higher income taxes come before a national sales tax. Sales taxes are regressive, and hit poor people the hardest.
A federal income tax is a progressive tax, whereas a national sales tax would be a regressive tax. The super wealthy could easily afford it, while the poor and middle classes would in effect be paying a higher percentage of taxes. They'd likely need to cut all their discretionary spending. Businesses would make less money and have to cut workers and cut prices. We'd end up in a deflationary spiral.
This idea may sound good on paper but it just wouldn't work in practice.
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