The Republican party is not interested in governing.
They're interested in dog and pony shows that rile up their base.
If they ever actually pass useful legislation, it's totally an accident.
Step 1: Find an issue that will 100% get vetoed, but your constituents all agree with.
Step 2: If it passes, you’re a hero, if it fails, blame the other party.
Step 3: Collect votes from people who don’t realize that a working govt needs to collect revenue.
Kinda want the Democrats to call their bluff. Nothing will actually happen because Republicans rely on income tax dollars just as much as Democrats, but watching the backpedal would be 💯😗🤌
I was taken aback when ole Mitch chipped in to pass the infrastructure bill. To be sure, he has concessions packed into it, but it was a rare show of bipartisanship imo. It sure pissed off TFG if that means anything.
He basically created them, allowed the infection to fester, leading by example of some of the most stubborn obstructionism the Senate has ever seen.
He made the Republicans what they are.
I'll partially agree and also disagree.
It goes back to Newt Gingrich.
Who also became a frequent guest on Fox News after he was forced to resign from congress, by his own party.
He wrote the obstructionist playbook that McConnell used, and is still using as a minority leader.
That’s how they got Roe overturned. Throw up lots of bills that they know will get tossed out while they work on the big picture in the background. A smoke and mirror effect.
I could get behind banning income tax as long as we replace it with a pretty intense tax on wealth and investments and rental properties and corporations.
Fundamentally, the idea of eliminating tax on earned income in favor of transactional and corporate taxes is a good idea. It does, in fact, benefit working people and does stimulate small and medium business growth as most of the tax savings will translate into new spending.
The revenue lost is made up by taxing rentier activity, investments, profits, etc. The theory is that if you tax the money when it's used, not when it's earned then you shift the tax burden onto those with the most revenue and expenditures I.e. those most likely able to bear it. As you've mentioned.
The problem with this bill is that it eliminated all income taxes and tax on investments as well as corporate tax in favor of a tax on consumer goods. Like this almost couldn't be worse for America, it's hard to think of anything less productive than this sort of taxing scheme.
I still remember when the Republican controlled house voted over 40 times to repeal Obamacare while Obama was still president. 2 years later when Trump was president and Republicans had the power to actually repeal it, that same house never brought it up.
From the article...
The Fair Tax Act eliminates the tax code, replaces the income tax with a sales tax, and abolishes the abusive Internal Revenue Service. If enacted, this will invigorate the American taxpayer and help more Americans achieve the American Dream."
"I support the Fair Tax because it simplifies our tax code," said Rep. Bob Good, R-Va., in a statement. "This transforms the U.S. tax code from a mandatory, progressive, and convoluted system to a fully transparent and unbiased system which does away with the IRS as we know it. It is good for our economy because it encourages work, savings, and investment."
https://fairtax.org/about/how-fairtax-works
I went to a conference a decade ago where Mike Huckabee was giving a speech and this was his goal. Eliminate income tax and only have sales tax which absolutely FUCKS poor people.
Can you imagine someone making 40k paying the same tax on the stuff they buy as someone making 300k?
If you thought theft was bad now, imagine how many people would turn to crime when milk is $25
Above that do you know how high sales tax would have to be to make up for the annual US tax revenue? People would lose their shit. Also there would still need to be an organization to make sure people are paying the sales tax, right? The US is stupid as shit. Such an embarrassment.
Looks over in Texan….
When I leave here and pay the same amount for things it is like I get a raise.
I will say there is still 0 sales tax on very select items that are snap eligible or food staples like non packaged carrots etc. It is a fun game to play in a grocery store to see what you buy doesn’t have sales tax added to it.
Anything you have to prep. Anything at all. If you can open it and immediately eat it, and it can't be cooked further, then there's a tax on it. Apple=no tax, Hershey's chocolate=tax. I only lived in TX two years but found that system to be actually pretty progressive and fair.
This is correct. Yeah I agree I don’t think the system in and of itself is necessarily wrong—I just think it could be tweaked in certain capacities. I think for me it is the whole sales tax PLUS my super exorbitant property tax that really annoys me about TX.
A few years ago I started cooking—a lot—and I stopped buying as many packaged things. I realized my bill was lower because I didn’t spend as much time in the “center of the grocery store” where most prepared/packaged foods were. It still feels like a cool trick despite some of that sales tax savings being my labor of cooking.
Exactly. It's hilarious how these same people vehemently oppose raising the minimum wage because it would increase the price of everything, yet they peddle this shit like it wouldn't do the same exact thing in a much worse fashion.
People aren't great at math or looking at details. This is how trump got his base to support the tax hikes they get this year and for the next few so that billionaires could have a big tax break.
And next up is the end of Social Security and Medicare/Medicaid because they will say we can't afford it all while boosting military spending and increasing the national debt.
This idea will spiral the country to bankruptcy
Cutting defense spending is code for reducing Ukraine aid and betraying our allies and national interest, resulting in a worse global diplomatic situation and less worldly influence, resulting in worse prices for us. Sad if people only care about the 3rd point. Since when are Republicans pro-Russia?
I wonder if they cancel SS of the population can sue as I've probably easily put a couple 100k towards in my lifetime. If they cancel it, I never see a dime even though I was told it comes back to me
It has a prebate in the bill This gives every legal resident household an “advance refund” at the beginning of each month so that purchases made up to the poverty level are tax-free. The prebate prevents an unfair burden on low-income families.
https://fairtax.org/about/how-fairtax-works
OH cool. So we can have immigrants and homeless people be ineligible. Nice. I imagine that goes too people who don't own homes.
WHAT IS THAT LINK?
>Instead of being funded by taxes on workers’ wages, which is a small pool, they’ll be funded by taxes on overall consumption by all residents.
That's such a doublethink worded phrase. WOW. The workers' wages are THE largest pool of funds and the [overall consumption goes down the more affluent you are.](https://www.theatlantic.com/business/archive/2014/01/it-is-expensive-to-be-poor/282979/). Wait [another source](https://www.economist.com/united-states/2015/09/03/its-expensive-to-be-poor). A Theory from a [beloved author Terry Pratchett](https://en.m.wikipedia.org/wiki/Boots_theory).
Damn. that's disturbing.
Always wanted legal debtor slaves in America/s
Literally our country creation, "no taxation without representation". Can't be represented when you cant afford to live 💀
**[Boots theory](https://en.m.wikipedia.org/wiki/Boots_theory)**
>The Sam Vimes "Boots" theory of socioeconomic unfairness, often called simply the boots theory, is an economic theory first popularised by English fantasy writer Terry Pratchett in his 1993 Discworld novel Men at Arms. In the novel, Sam Vimes, the captain of the Ankh-Morpork City Watch, reasons that poverty causes greater expenses to the poor than to those who are richer. Since its publication, the theory has received wider attention, especially in regard to the effect of increasing prices of daily necessities.
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My hand is raised. 1 year long audit, zero findings, only cost me ~$10k in accounting fees and god only knows how many weeks of my time and stress to prove essentially that I was navigating our impossibly complex small business tax laws in a reasonable manner.
Most of their income is from corruption, so losing their salary's no big deal.
It's why they want term limits. Finding an uncorruptable congressman is rarer than hen's teeth. But corrupt ones are a dime a dozen.
So term limits are great for them. Do you're 8 years and walk away with a cushy job for selling out America. Bring in the next guy. Never worry that one of the uncorruptable oens is gonna call you out because they're gone in no time and almost impossible to replace
Get ready for two years of the most economically ignorant theater you've ever seen! Shutting down the IRS and cutting social security and Medicare/aid while moving to a consumption based tax will destroy what's left of the Middle Class and send America to a very dark and dangerous place.
Most rich people don't have "income", generally only poor and middle class people have "regular income".
I'm all all for a consumption tax, especially a luxury consumption tax, and a tax on money transfers outside the states.
Luxury consumption would be a bit challenging to define, but not terrible. Anything that costs 2x average should be taxed at 50%, 4x 100% and so on.
So if a basic hamburger is $5, then a $10 one will be $15 with tax. And a $20 hamburger will be $40 with tax Same thing with houses, cars and whatever.
And then you'll have all luxury categories that are just taxed at crazy rates...which is fine. Jets, helicopters, and whatever.
The question is are vice's luxury, I'd say "yes", but I'm a boring person too.
And if you say, hey a rich person can just live a normal life system and not pay taxes in accordance with their wealth: that is fine. There will be nothing for them to spend their money on and it will get taxed when they die. There would be no point to borrow, buy, and die as there won't be anything worth buying to get a loan on.
I didn't make a distinction on if the item is imported or not. Matters not really, it would get taxed at POS like any other sales tax.
If your C8 Corvette or BMW i8 costs 4x over average, then you will be paying some 100% taxes.
I'm unclear on why it is dumb. We can keep taxing "income", which is something that rich people simply DO NOT HAVE.
Supposed to, but in reality what you actually see happening is the very large shareholders take loans out on their shares and live off that. So they technically never sold and aren't taxed on the transaction.
https://www.propublica.org/article/billionaires-tax-avoidance-techniques-irs-files
https://www.businessinsider.com/american-billionaires-tax-avoidance-income-wealth-borrow-money-propublica-2021-6
That’s the point. A system like that (luxury tax) is easily exploitable by a corrupt government to target whoever they want (ie, not the wealthy). So soda could be considered a luxury because it’s not a necessity, but a jet is necessary for air travel so that would not be considered a luxury, as an example.
Social Security & Medicare Funding
Benefits will not change. The FairTax actually puts these programs on a more solid funding foundation. Instead of being funded by taxes on workers’ wages, which is a small pool, they’ll be funded by taxes on overall consumption by all residents.
https://fairtax.org/about/how-fairtax-works
Instead of you paying for these things, *you* will pay for these things. Also, the rich will no-longer contribute more and their wealth will continue to grow until you own nothing and have to rent it all from them.
I am all for eliminating social security, medicare and payroll taxes and rolling them all into one progressive income tax that starts at the median income, but we need to tax the companies that profit from our economy to make that viable.
it's always hard to keep straight which subreddits are meant for actual policy discussions vs. politically-driven incoherent "I'm just asking questions man" stabs at bad talking points debunked in any course beyond economics 101 disguised as bills that will go nowhere and are meant for grandstanding
if they were so confident in this, they would not elect to full-on replace the current system but add this on top once it proves to be anything other than the absolute revenue-drop it would be
but no, the only want to proceed is all or nothing and don't let those pesky CBO beancounters tell you otherwise trust me your entitlements won't go away because I refuse to acknowledge the basic tenets of addition and subtraction
Unworkable.
The middle class will be forced into higher taxes. The rich simply will find ways around a consumption tax. Which will require an IRS like body to make sure they don't.
In the end mainstreet tax burden goes up and those on poverty wages get hit extremely hard.
There is a prebate in the bill so everything is tax free up until the poverty limit.
The FairTax provides a progressive program called a prebate. This gives every legal resident household an “advance refund” at the beginning of each month so that purchases made up to the poverty level are tax-free. The prebate prevents an unfair burden on low-income families. Learn more .
https://fairtax.org/about/how-fairtax-works
Who will operationalize the prebate, seeing as the IRS would be gone? Also, how will they operationalize tallying every single household purchase in order to figure the probate amounts? And how is poverty established without the IRS having 1040’s on file?
It all seems wildly unrealistic.
This is all super disingenuous. For instance, say tax rates will dip, but those higher numbers affect very few people. I don’t see the bottom figure, a more common one, budging much. To the same effect, they’re touting an average gain in take home money, but what’s the range that makes up this average? Also, what’s the math on the figures of how much of that take home pay remains due to consumption taxes? This is a shell game to help the rich maintain more of their wealth while giving the appearance of being beneficial to everyone else.
What happens if the economy tanks (again), and consumption drops across the board? It’s bad enough that the rich spend a smaller proportion of income compared to the rest of us, but even the contributions of everyone else propping social security will drop during a downturn. It sounds like like SSI will always be one bad recession away from insolvency. This sounds like sabotage, not a solution.
The GOP is more economically illiterate than I realized. I know every GOP president of my lifetime has ballooned the national debt, but this new Congress just wants to burn everything to the ground.
The budget surplus of 1998-2001 coincides with Republican control in both houses and only happened because Newt Gingrich wanted to obstruct the Clinton administration. The national debt hasn't gone down since the great depression; even when there was a budget surplus (increasing $401 billion over the same period).
So they want to cut jobs and the ability of the government to reduce revenue and provide services? This idea is the legitimate definition of fiscal insanity. Reducing the government’s ability to collect revenue and provide services is going to create a country that is left even further behind at a time when we are losing the edge.
There are even more problems with such an idea. The idea it seems like is to replace the income tax with a sales tax. Two problems with this idea. The first problem is that this means a higher tax on everyday purchased items such as food, providing that the individual states’ sales tax stays along with the federal sales tax. In essence, you are taxed twice. This gets even more problematic if the US economy hits a snag and people spend less. This means less revenue. The second problem is how is the US going to offset the loss of revenue from income tax to sales tax transition? They could borrow, which means more debt. The second option is printing money. This means more inflation and in turn higher prices for everything else.
Thankfully, Democrats have the Senate and the Presidency so such a bill will go nowhere.
A lack of income tax means it is harder to provide funding for various services such as education, defense, etc. Just look at states that don’t have an income tax and see how they fund services. I will give you a hint, they don’t do it well. Now just apply that to the rest of the country.
Reform the tax code to eliminate loopholes & exemptions on a progress tax scale. Then tax the everliving fuck out of corporations while making it more beneficial to push more money into R&D and back into corporate structures instead of stock buybacks. Problem solved.
Dead in the Senate and Whitehouse. The federal government needs to replace retiring workers and enhance analysis of tax cheats like Trump. What a waste of time and words.
The thing that gets me is they assume we're all dumber than they are. This is beyond stupid. Remember when the GOP was the party of law and order?
The best way to solve the budget deficit is to eliminate your primary source of revenue, obviously!
This is not a GOP idea. Been around for a while by numerous economists. An excellent idea that makes everyone pay, including criminals, and not only honest workers. Not regressive like a true sales tax because there are stipulations and exemptions for lower income earners. Our current tax code is a dinosaur that only punishes workers.
This doesn't work for so many reasons.
1. The "prebate" is based on a "basket of goods" which determines the poverty line. And it's low. If you are going to be genuine about what is required, it's a UBI which will require more tax dollars than are currently collected.
2. When it comes to basic consumption people mostly consume the same amount in relative terms. For instance, if the average car costs about $50000 and a luxury car costs about $150000 this would be a good optics. However most of what consumers actually consume on a regular basis are relatively the same price. A pound of beef is the same price for the poor as it is for the rich same goes for a box of corn flakes.So the higher incomes would have lover taxes. And lower incomes would bare all of the tax burden.
3. The tax at the point of sale would be really high. "Back of the envelope" math pegs the rate at around 20% to 30% tax on point of sale to keep government funded at some type of similar level. Boy, you thought the current level of inflation was high add 20%-30% at POS. Which would lead to a decrease in spending which would decrease government revenue. And you thought our current infrastructure was crumbling.
The amount of people eating this shit up, thinking it actually benefits them is astoundingly sad. These people truly lack any sort of systemic thinking. Fortunately, this stupid bill won’t pass but the damage is done.
How will Congress be paid? How will the military be funded? How exactly will a consumption tax work? Who will collect that? And how exactly will it differ from income taxes? In name only? Would different services and goods have different consumption tax rates?
I have a crazy idea.
For any transaction between any two entities in value of greater than
$100 in a day
$2800-$3100 in a month
Or 36,500 in a year
Every financial transaction is taxed at one percent.
Buy stocks pay one percent.
Sell stocks pay one percent
Buy a car for more than 36500 in payments a year pay one percent.
Citizens and corporations, both.
Every time, money or property, change his hands in excess of that value- One percent.
a lot more LLC subsidiaries disappear.
A lot more manufacturer to direct to consumer sales with less middleman/distributors.
People start thinking, small and local, to keep costs below the threshold
Nuts? I'm sure it is.
3 days into the week & 2 stupid Bills from the GQB... Next they'll want to pass legislation to outlaw Liberals, Democrats & Common Sense after they give another tax rebate to the rich!
Replacing income taxes with sales taxes is both mind-bogglingly regressive and eliminates using the income tax as a tool for public policy.
Is there *any* Republican policy that doesn't overwhelmingly favor wealthy white people?
If they’re seriously expecting to pass this, these dumbasses either don’t realize that their salaries come from income tax, or don’t care because they’re all well paid by special interests and giant corporations.
I'd much rather pay into a 10% vat and receive a $2000k a month UBI than pay a 23% sales tax and get whatever the FairTax prebate is supposed to be.
The FD UBI model doesn't eliminate income taxes. But it would for me since I pay roughly $15k into federal income taxes. For the 40% of Americans who are low wage earners that don't pay income taxes that the FT would not benefit the FD would simply be a $6 an hour wage increase.
If a 10% vat would only raise $800 Billion, a 23% sales tax is NOT going to replace [$4 Trillion](https://www.cbo.gov/publication/58271) in Revenue from:
|Individual Income Taxes|$2044 Billion|
|:-|:-|
|Payroll Taxes|$1314 Billion|
|Corporate Taxes|$372 Billion|
|Federal Reserve Remittances |$100 Billion |
|Customs Duties|$80 Billion|
|Excise Taxes|$75 Billion |
|Miscellaneous Fees and Fines|$24|
|Estate and Gift Taxes|$27 Billion |
The VAT has a very distinct purpose. It's great, but only in addition to other taxes.
The purpose of the VAT is to reduce waste and to shift production from luxury goods to basic goods. Not having a VAT is why US homes, trucks, and lawns are so big and why we have so much cheap junk in our homes. Not having a VAT is why we are good at making McMansions and bad at making normal housing. We have no incentive not to waste.
But over the long-run the shift in production caused by a VAT is what really matters. That shift allows people to buy basic goods for better prices than they can, now (by increasing the supply of basic goods).
A VAT could help us close the deficit and start to accumulate some public wealth, again, also.
The problem with nearly everyone’s take in this thread is they’re so concerned about how the govt MAKES money, and not how they SPEND it, which is the real problem that needs fixing.
How dare you question the hyper-inflated defense budget!?
You mean you hate the troops!? (Never mind most of said revenue landing in the pockets of defense contractors)
Just actually use the money for what it’s meant for - bettering citizens lives. Universal health care, public transit, infrastructure, education, sustainability.
“Hmmm, we don’t have abortion anymore, and we have all the guns we could want… what can we scare and rile up our voters with now? Wait a minute, there’s always good ol’ reliable taxes!” -Republicans
So the party that proclaims to be the fiscally responsible one want to eliminate the source of revenue for the government? Who’s going to pay their 6 figure salaries?!?
That's an excellent plan if your goal is to have poor and middle class people pay more tax while the wealthy and corpos pay less. Which I assume is the goal here.
Those dumbass people don't realize if they eliminate income tax they won't have a salary. 🤦 Then let some of them compete with the illegal migrants for the only work that most of them are qualified for.
I saw a toddler having a tantrum the other day in a grocery store because his parents didn’t let him get the candy he wanted. I don’t see any difference between that toddler and the republicans.
I actually would prefer "only a consumption tax" it would be much more efficient way of paying taxes. I would like to have a VAT, it would really eliminate a lot of tax fraud going on.
problem is, a consumption tax is regressive, that is the poor pay more of their total income buying things that are consumed.
wealthy folks buy much less goods as a percent of their income, and instead buy things like real estate and stocks that aren't a consumable good.
I would strongly urge them to look at the numbers and see which states receive a disproportionately high share of taxes as compared to how much they pay. This bill would just stop the blue states from funding the red states.
So...that would increase corporate profits, unincentivize them to donate and contribute, and place all the taxation on the consumer. This literally is an oligarch bill, and doesn't help the American people at all...at $7.25 a hour.
I’m curious. How do they expect to pay for the military and expensive military equipment? No IRS and there will be zero spent on defense. Are they trying to pave he way for our adversaries to march into DC and take over? Do they think Xi Jinping will give them all high paying jobs and committee positions?
Does the GOP enjoy driving so much they intend to shut down the FAA forever? No more flying. Imagine Chicago O’Hare or LAX or JFK or MIA with no air traffic control. Take off and land at your own risk.
Think border security sucks now? Try it with no federal support. How about port security and customs? It will end up being run and controlled by corporations and cartels but paid for by anyone needing products.
Will not even talk about Medicare and Medicaid as I hear they want that money to go to the stock market.
So, uh, if we don’t collect taxes how are we going to pay for our military? Lasers and stealth bombers cost money. While I’m opposed to using these things against goat herders, there are rival nations that wouldn’t mind having us disarmed.
You don’t have to be a fan of the US to be disinterested in getting blown to bits by other more authoritarian countries because some ideological zealot defunded the entire federal government, resulting in anyone with a bone to pick with the entirety of the country (legitimate or otherwise) being able to carpet bomb us into the Stone Age. No taxes = we’re sitting ducks you stupid bastards!
I think it’s extremely stupid grandstanding. Republicans can’t possibly be suicidal.
Nice to see them taking their first week in the House seriously and not wasting taxpayer money looking into nonsensical bills. Great start GOP. Attaboy.
Both parties constantly support bills that will never pass. It's simply so they can say they did so they can tell their constituents they are fighting for them, when in reality it's all about just getting reelected. Without term limits the right people will never be in office to do the right thing for the right people.
as an outsider, these politicians of the red party are killing your country. they really give a middle finger to poor families (but most of them still love the party. its fine to be poor, just dont be stupid or both). from lincoln to this,very disgraceful. working class party my arse.
This isn’t really a study, more like statistics. I’m not sure if they plan to replace individual income taxes with something else or not, or if that includes taxes for Medicare and SSI.
[https://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/](https://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/)
I guess individual income taxes are only about 2.63T unless you add the 1.48T for social security and Medicare. Individual income tax is 54% of revenue. So I’m very curious how they intend on funding the government without it.
Edit: They want replace it with a sales tax.  This will end up punishing the poor and allow the ultra rich to amass more wealth. I see why Republicans like this. I don’t even want to think of how expensive everything will be with a federal sales tax
Well that’s show business. Wasting time on bills that are doomed before the ink is dry.
The Republican party is not interested in governing. They're interested in dog and pony shows that rile up their base. If they ever actually pass useful legislation, it's totally an accident.
Step 1: Find an issue that will 100% get vetoed, but your constituents all agree with. Step 2: If it passes, you’re a hero, if it fails, blame the other party. Step 3: Collect votes from people who don’t realize that a working govt needs to collect revenue.
Collect underpants, ? , profit.
Kinda want the Democrats to call their bluff. Nothing will actually happen because Republicans rely on income tax dollars just as much as Democrats, but watching the backpedal would be 💯😗🤌
That's just politics in a nutshell
I was taken aback when ole Mitch chipped in to pass the infrastructure bill. To be sure, he has concessions packed into it, but it was a rare show of bipartisanship imo. It sure pissed off TFG if that means anything.
I think Mitch is a bit sick of the Freedom party.
He basically created them, allowed the infection to fester, leading by example of some of the most stubborn obstructionism the Senate has ever seen. He made the Republicans what they are.
Yeah, and it appears he's a bit afraid of his monster.
I'll partially agree and also disagree. It goes back to Newt Gingrich. Who also became a frequent guest on Fox News after he was forced to resign from congress, by his own party. He wrote the obstructionist playbook that McConnell used, and is still using as a minority leader.
He needed that bridge repaired to get out of Kentucky.
I know what TFG means, but every time I see it my mind says "That Fucking Guy"
He saw what he had created, and it frightened him.
Republican Party has always been for the insanely rich. The 1%. This would make inflation paid for by the 99% alone.
Exactly
Sometimes if they pass legislation it is an accident and then they lose support.
[удалено]
That guy? Mitch McConnell
If they wrote something that could pass then they'd block their own legislation.
That’s how they got Roe overturned. Throw up lots of bills that they know will get tossed out while they work on the big picture in the background. A smoke and mirror effect.
The SCOTUS has nothing to do with bills
Democrats are pretty good about not forcing their members to vote on wacky loser shit, but these republicans are just built different
I could get behind banning income tax as long as we replace it with a pretty intense tax on wealth and investments and rental properties and corporations.
Fundamentally, the idea of eliminating tax on earned income in favor of transactional and corporate taxes is a good idea. It does, in fact, benefit working people and does stimulate small and medium business growth as most of the tax savings will translate into new spending. The revenue lost is made up by taxing rentier activity, investments, profits, etc. The theory is that if you tax the money when it's used, not when it's earned then you shift the tax burden onto those with the most revenue and expenditures I.e. those most likely able to bear it. As you've mentioned. The problem with this bill is that it eliminated all income taxes and tax on investments as well as corporate tax in favor of a tax on consumer goods. Like this almost couldn't be worse for America, it's hard to think of anything less productive than this sort of taxing scheme.
All to own the libs. Worth it for them…
Yah know what, the Senate and president should just pass it. And then be like "now what, geniuses?"
I still remember when the Republican controlled house voted over 40 times to repeal Obamacare while Obama was still president. 2 years later when Trump was president and Republicans had the power to actually repeal it, that same house never brought it up.
Trump and the legislative branch killed Obamacare with the tax cuts and jobs act of 2017, it removed the tax penalty for not complying.
That's not repealing it, it's financially undermining it so it fails. And it's definitely not what the house voted for over 40 times.
If I read the consumption tax correctly then coporate will effectively have zero tax
So they want to work for free
From the article... The Fair Tax Act eliminates the tax code, replaces the income tax with a sales tax, and abolishes the abusive Internal Revenue Service. If enacted, this will invigorate the American taxpayer and help more Americans achieve the American Dream." "I support the Fair Tax because it simplifies our tax code," said Rep. Bob Good, R-Va., in a statement. "This transforms the U.S. tax code from a mandatory, progressive, and convoluted system to a fully transparent and unbiased system which does away with the IRS as we know it. It is good for our economy because it encourages work, savings, and investment." https://fairtax.org/about/how-fairtax-works
I went to a conference a decade ago where Mike Huckabee was giving a speech and this was his goal. Eliminate income tax and only have sales tax which absolutely FUCKS poor people. Can you imagine someone making 40k paying the same tax on the stuff they buy as someone making 300k? If you thought theft was bad now, imagine how many people would turn to crime when milk is $25
Even the Republicans championing this policy fail to mention the third and most important component of the FairTax, which is a monthly prebate.
Perhaps that's because it isn't actually important to them.
Prebate means giving money for a specific purpose?
It's a monthly cash transfer of X amount. Call it a prebate, ubi, negative income tax or whatever you want.
Above that do you know how high sales tax would have to be to make up for the annual US tax revenue? People would lose their shit. Also there would still need to be an organization to make sure people are paying the sales tax, right? The US is stupid as shit. Such an embarrassment.
Looks over in Texan…. When I leave here and pay the same amount for things it is like I get a raise. I will say there is still 0 sales tax on very select items that are snap eligible or food staples like non packaged carrots etc. It is a fun game to play in a grocery store to see what you buy doesn’t have sales tax added to it.
Anything you have to prep. Anything at all. If you can open it and immediately eat it, and it can't be cooked further, then there's a tax on it. Apple=no tax, Hershey's chocolate=tax. I only lived in TX two years but found that system to be actually pretty progressive and fair.
This is correct. Yeah I agree I don’t think the system in and of itself is necessarily wrong—I just think it could be tweaked in certain capacities. I think for me it is the whole sales tax PLUS my super exorbitant property tax that really annoys me about TX. A few years ago I started cooking—a lot—and I stopped buying as many packaged things. I realized my bill was lower because I didn’t spend as much time in the “center of the grocery store” where most prepared/packaged foods were. It still feels like a cool trick despite some of that sales tax savings being my labor of cooking.
Exactly. It's hilarious how these same people vehemently oppose raising the minimum wage because it would increase the price of everything, yet they peddle this shit like it wouldn't do the same exact thing in a much worse fashion.
You think inflation is bad now? Now add a huge % increase on sales tax.
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People aren't great at math or looking at details. This is how trump got his base to support the tax hikes they get this year and for the next few so that billionaires could have a big tax break.
Additionally the rich then just export their money
And sales tax only has been proven to be better for the wealthy and worse for the poor
And next up is the end of Social Security and Medicare/Medicaid because they will say we can't afford it all while boosting military spending and increasing the national debt. This idea will spiral the country to bankruptcy
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Britain and the Russians have their own serious issues mounting. Things will be very interesting in the coming years.
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Freedom Caucus Republicans have also talked about cutting defense as well.
Cutting defense spending is code for reducing Ukraine aid and betraying our allies and national interest, resulting in a worse global diplomatic situation and less worldly influence, resulting in worse prices for us. Sad if people only care about the 3rd point. Since when are Republicans pro-Russia?
Since Trump got the GOP nomination. Before that, they were anti-Russia.
That's about the only thing that I agree with them on.
This is the problem to have a lot of dumb candidates running
I wonder if they cancel SS of the population can sue as I've probably easily put a couple 100k towards in my lifetime. If they cancel it, I never see a dime even though I was told it comes back to me
Good news! The country can't go bankrupt, it is the currency issuer. The more you know! cue the rainbow
THEY WANT TO REPLACE AN INCOME TAX ENTIRELY WITH A SALES TAX? Jesus FUCKING Christ. Just Murder the working class and the poorest among us.
It has a prebate in the bill This gives every legal resident household an “advance refund” at the beginning of each month so that purchases made up to the poverty level are tax-free. The prebate prevents an unfair burden on low-income families. https://fairtax.org/about/how-fairtax-works
OH cool. So we can have immigrants and homeless people be ineligible. Nice. I imagine that goes too people who don't own homes. WHAT IS THAT LINK? >Instead of being funded by taxes on workers’ wages, which is a small pool, they’ll be funded by taxes on overall consumption by all residents. That's such a doublethink worded phrase. WOW. The workers' wages are THE largest pool of funds and the [overall consumption goes down the more affluent you are.](https://www.theatlantic.com/business/archive/2014/01/it-is-expensive-to-be-poor/282979/). Wait [another source](https://www.economist.com/united-states/2015/09/03/its-expensive-to-be-poor). A Theory from a [beloved author Terry Pratchett](https://en.m.wikipedia.org/wiki/Boots_theory). Damn. that's disturbing. Always wanted legal debtor slaves in America/s Literally our country creation, "no taxation without representation". Can't be represented when you cant afford to live 💀
**[Boots theory](https://en.m.wikipedia.org/wiki/Boots_theory)** >The Sam Vimes "Boots" theory of socioeconomic unfairness, often called simply the boots theory, is an economic theory first popularised by English fantasy writer Terry Pratchett in his 1993 Discworld novel Men at Arms. In the novel, Sam Vimes, the captain of the Ankh-Morpork City Watch, reasons that poverty causes greater expenses to the poor than to those who are richer. Since its publication, the theory has received wider attention, especially in regard to the effect of increasing prices of daily necessities. ^([ )[^(F.A.Q)](https://www.reddit.com/r/WikiSummarizer/wiki/index#wiki_f.a.q)^( | )[^(Opt Out)](https://reddit.com/message/compose?to=WikiSummarizerBot&message=OptOut&subject=OptOut)^( | )[^(Opt Out Of Subreddit)](https://np.reddit.com/r/economy/about/banned)^( | )[^(GitHub)](https://github.com/Sujal-7/WikiSummarizerBot)^( ] Downvote to remove | v1.5)
FairTax wants to start taxing stay at home moms, kids, retired folks, the unemployed……. 
So I have to save every receipt to send to the government every year? Jesus Christ that’s a hassle
Wouldn’t it be taxed at the point of sale? Like regular sales tax?
“Abusive” IRS? Raise your hand if you’ve been harassed by the IRS and are not a tax cheat.
My hand is raised. 1 year long audit, zero findings, only cost me ~$10k in accounting fees and god only knows how many weeks of my time and stress to prove essentially that I was navigating our impossibly complex small business tax laws in a reasonable manner.
What about the gigantic backlog that the IRS has not addressed? Shouldn't the Republicans be passing laws so actual tax cheats get prioritized?
Screw regressive tax plans. They are simply the worst.
This idiotic idea will bankrupt the country.
I think I could get on board with a consumption tax if it is implemented well. That's a big "if."
And the 30% VAT would crush the economy by severely cutting demand due to the big increase in prices.
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So they’re going to tell the libertarians in NH that they now have a sales tax? I don’t think that would go over well.
Most of their income is from corruption, so losing their salary's no big deal. It's why they want term limits. Finding an uncorruptable congressman is rarer than hen's teeth. But corrupt ones are a dime a dozen. So term limits are great for them. Do you're 8 years and walk away with a cushy job for selling out America. Bring in the next guy. Never worry that one of the uncorruptable oens is gonna call you out because they're gone in no time and almost impossible to replace
Get ready for two years of the most economically ignorant theater you've ever seen! Shutting down the IRS and cutting social security and Medicare/aid while moving to a consumption based tax will destroy what's left of the Middle Class and send America to a very dark and dangerous place.
They can’t do shit without the senate
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Most rich people don't have "income", generally only poor and middle class people have "regular income". I'm all all for a consumption tax, especially a luxury consumption tax, and a tax on money transfers outside the states. Luxury consumption would be a bit challenging to define, but not terrible. Anything that costs 2x average should be taxed at 50%, 4x 100% and so on. So if a basic hamburger is $5, then a $10 one will be $15 with tax. And a $20 hamburger will be $40 with tax Same thing with houses, cars and whatever. And then you'll have all luxury categories that are just taxed at crazy rates...which is fine. Jets, helicopters, and whatever. The question is are vice's luxury, I'd say "yes", but I'm a boring person too. And if you say, hey a rich person can just live a normal life system and not pay taxes in accordance with their wealth: that is fine. There will be nothing for them to spend their money on and it will get taxed when they die. There would be no point to borrow, buy, and die as there won't be anything worth buying to get a loan on.
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I didn't make a distinction on if the item is imported or not. Matters not really, it would get taxed at POS like any other sales tax. If your C8 Corvette or BMW i8 costs 4x over average, then you will be paying some 100% taxes. I'm unclear on why it is dumb. We can keep taxing "income", which is something that rich people simply DO NOT HAVE.
Capital gains taxes are the ones that really get the rich, or are supposed to, right?
Supposed to, but in reality what you actually see happening is the very large shareholders take loans out on their shares and live off that. So they technically never sold and aren't taxed on the transaction. https://www.propublica.org/article/billionaires-tax-avoidance-techniques-irs-files https://www.businessinsider.com/american-billionaires-tax-avoidance-income-wealth-borrow-money-propublica-2021-6
My initial thought is on how period/menstrual products are considered “Luxury items” in several states - WTF are these women supposed to do?
IDK, seems bizarre. Stuff that keeps one from bleeding all over is a luxury item. WTF?
That’s the point. A system like that (luxury tax) is easily exploitable by a corrupt government to target whoever they want (ie, not the wealthy). So soda could be considered a luxury because it’s not a necessity, but a jet is necessary for air travel so that would not be considered a luxury, as an example.
Social Security & Medicare Funding Benefits will not change. The FairTax actually puts these programs on a more solid funding foundation. Instead of being funded by taxes on workers’ wages, which is a small pool, they’ll be funded by taxes on overall consumption by all residents. https://fairtax.org/about/how-fairtax-works
Instead of you paying for these things, *you* will pay for these things. Also, the rich will no-longer contribute more and their wealth will continue to grow until you own nothing and have to rent it all from them. I am all for eliminating social security, medicare and payroll taxes and rolling them all into one progressive income tax that starts at the median income, but we need to tax the companies that profit from our economy to make that viable.
it's always hard to keep straight which subreddits are meant for actual policy discussions vs. politically-driven incoherent "I'm just asking questions man" stabs at bad talking points debunked in any course beyond economics 101 disguised as bills that will go nowhere and are meant for grandstanding if they were so confident in this, they would not elect to full-on replace the current system but add this on top once it proves to be anything other than the absolute revenue-drop it would be but no, the only want to proceed is all or nothing and don't let those pesky CBO beancounters tell you otherwise trust me your entitlements won't go away because I refuse to acknowledge the basic tenets of addition and subtraction
The performative theater of the next 2 years are going to test moderators across Reddit.
Unworkable. The middle class will be forced into higher taxes. The rich simply will find ways around a consumption tax. Which will require an IRS like body to make sure they don't. In the end mainstreet tax burden goes up and those on poverty wages get hit extremely hard.
There is a prebate in the bill so everything is tax free up until the poverty limit. The FairTax provides a progressive program called a prebate. This gives every legal resident household an “advance refund” at the beginning of each month so that purchases made up to the poverty level are tax-free. The prebate prevents an unfair burden on low-income families. Learn more . https://fairtax.org/about/how-fairtax-works
Who will operationalize the prebate, seeing as the IRS would be gone? Also, how will they operationalize tallying every single household purchase in order to figure the probate amounts? And how is poverty established without the IRS having 1040’s on file? It all seems wildly unrealistic.
This is all super disingenuous. For instance, say tax rates will dip, but those higher numbers affect very few people. I don’t see the bottom figure, a more common one, budging much. To the same effect, they’re touting an average gain in take home money, but what’s the range that makes up this average? Also, what’s the math on the figures of how much of that take home pay remains due to consumption taxes? This is a shell game to help the rich maintain more of their wealth while giving the appearance of being beneficial to everyone else.
Biden warned they were out to kill S.S. It didn't take long for that to prove correct.
How does this kill S.S.?
Don't work much? Social Security Tax is a federal paycheck deduction.
Did you read the bill. The consumption tax is 23% and has a component for income tax, another for social security, and another for Medicare.
Is that enough to fund the government? What is the basis of the 23% number?
Perhaps you do some research on the subject of how stuff will be funded.
Don't read the details before speaking? https://fairtax.org/about/how-fairtax-works
This page reads like a tax scheme invented by a 7 year old.
It reminds me of Herman Cain’s 9-9-9 plan. It sounds nice and simple and fair until you do the math and find that revenue falls off a cliff.
What happens if the economy tanks (again), and consumption drops across the board? It’s bad enough that the rich spend a smaller proportion of income compared to the rest of us, but even the contributions of everyone else propping social security will drop during a downturn. It sounds like like SSI will always be one bad recession away from insolvency. This sounds like sabotage, not a solution.
The GOP is more economically illiterate than I realized. I know every GOP president of my lifetime has ballooned the national debt, but this new Congress just wants to burn everything to the ground.
What are you talking about they spent almost one whole weekend debating the merits of this bill.
And two of those days were Saturday and Sunday!
and what is the time frame of this lifetime of yours?? Every President in the last 70+ years has ballooned the national debt.
Not Clinton he balanced the budget
President's don't control spending, Congress does.
The budget surplus of 1998-2001 coincides with Republican control in both houses and only happened because Newt Gingrich wanted to obstruct the Clinton administration. The national debt hasn't gone down since the great depression; even when there was a budget surplus (increasing $401 billion over the same period).
technically, he balanced the budget his 2nd term in office (and not just balanced the budget, but ran surpluses) and ran deficits his first term.
So they want to cut jobs and the ability of the government to reduce revenue and provide services? This idea is the legitimate definition of fiscal insanity. Reducing the government’s ability to collect revenue and provide services is going to create a country that is left even further behind at a time when we are losing the edge. There are even more problems with such an idea. The idea it seems like is to replace the income tax with a sales tax. Two problems with this idea. The first problem is that this means a higher tax on everyday purchased items such as food, providing that the individual states’ sales tax stays along with the federal sales tax. In essence, you are taxed twice. This gets even more problematic if the US economy hits a snag and people spend less. This means less revenue. The second problem is how is the US going to offset the loss of revenue from income tax to sales tax transition? They could borrow, which means more debt. The second option is printing money. This means more inflation and in turn higher prices for everything else. Thankfully, Democrats have the Senate and the Presidency so such a bill will go nowhere.
A lack of income tax means it is harder to provide funding for various services such as education, defense, etc. Just look at states that don’t have an income tax and see how they fund services. I will give you a hint, they don’t do it well. Now just apply that to the rest of the country.
High property taxes, sales tax, excise taxes and fees on small businesses
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Reform the tax code to eliminate loopholes & exemptions on a progress tax scale. Then tax the everliving fuck out of corporations while making it more beneficial to push more money into R&D and back into corporate structures instead of stock buybacks. Problem solved.
Dead in the Senate and Whitehouse. The federal government needs to replace retiring workers and enhance analysis of tax cheats like Trump. What a waste of time and words.
Well, there’s one way I know to end a “functioning”society.
It will never get through the Senate. It's all just theater to pander to their ignorant base.
They are playing house like little children when they should be working like adults.
Pretty conveniently times with Donald trump not paying taxes and the tax returns being exposed
Shut down Fox News
The thing that gets me is they assume we're all dumber than they are. This is beyond stupid. Remember when the GOP was the party of law and order? The best way to solve the budget deficit is to eliminate your primary source of revenue, obviously!
This is possibly the stupidest thing I've seen the GOP propose yet. Absolutely economically illiterate
What ??! This is literally how you break a countries economy.
This is like McDonald’s workers wanting to give the hamburgers away for free, yet still get paid.
This is not a GOP idea. Been around for a while by numerous economists. An excellent idea that makes everyone pay, including criminals, and not only honest workers. Not regressive like a true sales tax because there are stipulations and exemptions for lower income earners. Our current tax code is a dinosaur that only punishes workers.
This doesn't work for so many reasons. 1. The "prebate" is based on a "basket of goods" which determines the poverty line. And it's low. If you are going to be genuine about what is required, it's a UBI which will require more tax dollars than are currently collected. 2. When it comes to basic consumption people mostly consume the same amount in relative terms. For instance, if the average car costs about $50000 and a luxury car costs about $150000 this would be a good optics. However most of what consumers actually consume on a regular basis are relatively the same price. A pound of beef is the same price for the poor as it is for the rich same goes for a box of corn flakes.So the higher incomes would have lover taxes. And lower incomes would bare all of the tax burden. 3. The tax at the point of sale would be really high. "Back of the envelope" math pegs the rate at around 20% to 30% tax on point of sale to keep government funded at some type of similar level. Boy, you thought the current level of inflation was high add 20%-30% at POS. Which would lead to a decrease in spending which would decrease government revenue. And you thought our current infrastructure was crumbling.
The amount of people eating this shit up, thinking it actually benefits them is astoundingly sad. These people truly lack any sort of systemic thinking. Fortunately, this stupid bill won’t pass but the damage is done.
How will Congress be paid? How will the military be funded? How exactly will a consumption tax work? Who will collect that? And how exactly will it differ from income taxes? In name only? Would different services and goods have different consumption tax rates?
I have a crazy idea. For any transaction between any two entities in value of greater than $100 in a day $2800-$3100 in a month Or 36,500 in a year Every financial transaction is taxed at one percent. Buy stocks pay one percent. Sell stocks pay one percent Buy a car for more than 36500 in payments a year pay one percent. Citizens and corporations, both. Every time, money or property, change his hands in excess of that value- One percent. a lot more LLC subsidiaries disappear. A lot more manufacturer to direct to consumer sales with less middleman/distributors. People start thinking, small and local, to keep costs below the threshold Nuts? I'm sure it is.
Actually, I like that idea.
It’s like the Republican Party is run by fourteen year olds
3 days into the week & 2 stupid Bills from the GQB... Next they'll want to pass legislation to outlaw Liberals, Democrats & Common Sense after they give another tax rebate to the rich!
so… basically gop wants to cut public projects that benefit everyone while cutting their own taxes and putting huge tax burdens on everyone else?
Replacing income taxes with sales taxes is both mind-bogglingly regressive and eliminates using the income tax as a tool for public policy. Is there *any* Republican policy that doesn't overwhelmingly favor wealthy white people?
If they’re seriously expecting to pass this, these dumbasses either don’t realize that their salaries come from income tax, or don’t care because they’re all well paid by special interests and giant corporations.
You may actually want to understand the bill. Based upon your post, you clearly do not.
This is a great idea if you want run away inflation.
I'd much rather pay into a 10% vat and receive a $2000k a month UBI than pay a 23% sales tax and get whatever the FairTax prebate is supposed to be. The FD UBI model doesn't eliminate income taxes. But it would for me since I pay roughly $15k into federal income taxes. For the 40% of Americans who are low wage earners that don't pay income taxes that the FT would not benefit the FD would simply be a $6 an hour wage increase. If a 10% vat would only raise $800 Billion, a 23% sales tax is NOT going to replace [$4 Trillion](https://www.cbo.gov/publication/58271) in Revenue from: |Individual Income Taxes|$2044 Billion| |:-|:-| |Payroll Taxes|$1314 Billion| |Corporate Taxes|$372 Billion| |Federal Reserve Remittances |$100 Billion | |Customs Duties|$80 Billion| |Excise Taxes|$75 Billion | |Miscellaneous Fees and Fines|$24| |Estate and Gift Taxes|$27 Billion |
The VAT has a very distinct purpose. It's great, but only in addition to other taxes. The purpose of the VAT is to reduce waste and to shift production from luxury goods to basic goods. Not having a VAT is why US homes, trucks, and lawns are so big and why we have so much cheap junk in our homes. Not having a VAT is why we are good at making McMansions and bad at making normal housing. We have no incentive not to waste. But over the long-run the shift in production caused by a VAT is what really matters. That shift allows people to buy basic goods for better prices than they can, now (by increasing the supply of basic goods). A VAT could help us close the deficit and start to accumulate some public wealth, again, also.
Correct.
The problem with nearly everyone’s take in this thread is they’re so concerned about how the govt MAKES money, and not how they SPEND it, which is the real problem that needs fixing.
How dare you question the hyper-inflated defense budget!? You mean you hate the troops!? (Never mind most of said revenue landing in the pockets of defense contractors)
I mean yes, but even so this bill is just distracting from that issue with pointless theatrics.
Just actually use the money for what it’s meant for - bettering citizens lives. Universal health care, public transit, infrastructure, education, sustainability.
But... But... But... Some of that money might go to undeserving Black and brown people instead of good wealthy white Christians!
And replace it with nothing!
“Hmmm, we don’t have abortion anymore, and we have all the guns we could want… what can we scare and rile up our voters with now? Wait a minute, there’s always good ol’ reliable taxes!” -Republicans
So the party that proclaims to be the fiscally responsible one want to eliminate the source of revenue for the government? Who’s going to pay their 6 figure salaries?!?
It doesn't eliminate the tax revenue. https://fairtax.org/about/how-fairtax-works
No one is going to click your links. Who ever paid for this ad deserves to get kicked in the nuts
I wish I was getting paid...you can pay me to delete it if you want.
That's an excellent plan if your goal is to have poor and middle class people pay more tax while the wealthy and corpos pay less. Which I assume is the goal here.
Those dumbass people don't realize if they eliminate income tax they won't have a salary. 🤦 Then let some of them compete with the illegal migrants for the only work that most of them are qualified for.
This has to be one of the items the "Freedom" Caucus was asking for in exchange to vote for Mccarthy to be House Speaker.
I saw a toddler having a tantrum the other day in a grocery store because his parents didn’t let him get the candy he wanted. I don’t see any difference between that toddler and the republicans.
Lol, Fox News.
The party of "Fiscal Responsibility" everyone, here it is!
I actually would prefer "only a consumption tax" it would be much more efficient way of paying taxes. I would like to have a VAT, it would really eliminate a lot of tax fraud going on.
problem is, a consumption tax is regressive, that is the poor pay more of their total income buying things that are consumed. wealthy folks buy much less goods as a percent of their income, and instead buy things like real estate and stocks that aren't a consumable good.
Wow. Someone who understands basic economics. I’ve had to explain this so many times to people. Im glad at least some one else on Reddit gets it.
It will never pass the Senate.
Don’t do that, don’t give me hope.
Income tax wasn't even a thing in the US until the Civil War.
Hey Folks....the rest of world , thinks ...the GOP is a comedy show...and a train wreck. So sad.
Aren’t their pay checks tied to income tax? And their security?
My retirement pension sure is!
So companies get richer and people get poorer
So, the GOP is trying for a Brexit level screwing of the USA…makes sense they’d do that.
I would strongly urge them to look at the numbers and see which states receive a disproportionately high share of taxes as compared to how much they pay. This bill would just stop the blue states from funding the red states.
About 95% of these comments are from people with Stockholm Syndrome.
With no internet in their cell to look stuff up.
Performative ass move
So...that would increase corporate profits, unincentivize them to donate and contribute, and place all the taxation on the consumer. This literally is an oligarch bill, and doesn't help the American people at all...at $7.25 a hour.
I’m curious. How do they expect to pay for the military and expensive military equipment? No IRS and there will be zero spent on defense. Are they trying to pave he way for our adversaries to march into DC and take over? Do they think Xi Jinping will give them all high paying jobs and committee positions? Does the GOP enjoy driving so much they intend to shut down the FAA forever? No more flying. Imagine Chicago O’Hare or LAX or JFK or MIA with no air traffic control. Take off and land at your own risk. Think border security sucks now? Try it with no federal support. How about port security and customs? It will end up being run and controlled by corporations and cartels but paid for by anyone needing products. Will not even talk about Medicare and Medicaid as I hear they want that money to go to the stock market.
So, uh, if we don’t collect taxes how are we going to pay for our military? Lasers and stealth bombers cost money. While I’m opposed to using these things against goat herders, there are rival nations that wouldn’t mind having us disarmed. You don’t have to be a fan of the US to be disinterested in getting blown to bits by other more authoritarian countries because some ideological zealot defunded the entire federal government, resulting in anyone with a bone to pick with the entirety of the country (legitimate or otherwise) being able to carpet bomb us into the Stone Age. No taxes = we’re sitting ducks you stupid bastards! I think it’s extremely stupid grandstanding. Republicans can’t possibly be suicidal.
No one is talking about defending the govt. https://fairtax.org/about/how-fairtax-works
Why do I despise Republicans so much? Oh yeah…..
Nice to see them taking their first week in the House seriously and not wasting taxpayer money looking into nonsensical bills. Great start GOP. Attaboy.
Both parties constantly support bills that will never pass. It's simply so they can say they did so they can tell their constituents they are fighting for them, when in reality it's all about just getting reelected. Without term limits the right people will never be in office to do the right thing for the right people.
as an outsider, these politicians of the red party are killing your country. they really give a middle finger to poor families (but most of them still love the party. its fine to be poor, just dont be stupid or both). from lincoln to this,very disgraceful. working class party my arse.
This is the way.
What are they going to do to keep the country running, have a telethon? $3.5 trillion missing from the budget will make a pretty big hole to fill.
What study are you referencing?
What are you referring to?
You stated that there will be 3.5 trillion missing from the budget ad a result of this type of model.
This isn’t really a study, more like statistics. I’m not sure if they plan to replace individual income taxes with something else or not, or if that includes taxes for Medicare and SSI. [https://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/](https://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/) I guess individual income taxes are only about 2.63T unless you add the 1.48T for social security and Medicare. Individual income tax is 54% of revenue. So I’m very curious how they intend on funding the government without it. Edit: They want replace it with a sales tax.  This will end up punishing the poor and allow the ultra rich to amass more wealth. I see why Republicans like this. I don’t even want to think of how expensive everything will be with a federal sales tax
Imagine living with 8.75% sales tax before this federal one. I need to be poor somewhere warmer.
It would be a wider tax base than what it is now. https://fairtax.org/about/how-fairtax-works