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Proponents seek a 23-cent national sales tax on all retail goods, everything from groceries to clothes, cars to electronics. Everyone would pay the same rate, which critics argue is part of the problem.
"If you consume $40,000 a year and you make $50,000 a year, would you feel it is fair if a guy who made a half a million dollars a year but spent $40,000 a year paid the same tax you do? I think you wouldn't feel it's fair," said Buck Chapoton, former assistant treasury secretary.
Critics contend that the sales tax would have to be higher than advocates advertise.
"It would require at least a 30 percent rate, that's a very high rate and may create tax evasion on its own," said Chris Edwards, a tax analyst with the Cato Institute. "The highest state sales tax we've got right now is only 11 percent. So there's a great unknown here, would the government be able to actually collect a 30-percent sales tax?"
Still don't see the downside.
Originally posted by American Mad Man
All I want is a flat tax - thats it. Fair for everyone. Everyone pays the same %, no more BS from the IRS - you just take your income, take X% subtract, and your done.
That is the TRUE fair way to do it.
Somehow I think the middle and lower classes are going to get screwed if this thing passes.
Not going to happen!
An entire government bureaucracy put out of work? Dream on. Can't you hear the cries now?
Originally posted by edsinger
I like the idea personally, maybe some tweaking but the IRS has to go, to much bloat and not enough anything. Accountants will be out of work though, lots of them!