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What do you think about the national sales tax?
Old 01-30-2023, 08:51 AM   #1
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What do you think about the national sales tax?

I donít think this is a partisan issue - as the article tries to frame it - itís just an alternative approach to taxing. From what I can tell itís pretty much the equivalent of European VAT - not particularly controversial. I think we would benefit with a lot less ďoutrageĒ associated with any changes in tax code in US and with a bit more open minded discussion.
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Old 01-30-2023, 09:40 AM   #2
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One big advantage of a VAT-type tax is it captures revenue from the underground economy, which is said to be 10-12% of GDP. Capturing the underground economy is also an objective for governments pushing towards a cashless economy. Combined, I think these would benefit us "normal" taxpayers by giving the government additional revenue without increasing our taxes. I haven't followed it in detail but IIRC one of the major objections is that it would be regressive and require some kind of rebate or credit program for low income people.
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Old 01-30-2023, 10:00 AM   #3
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The proposal put forward would favor the High Tax cohort.

The proposed 23% flat tax would allegedly cover a supposedly average Income Tax Bracket, plus the 7% Payroll Tax.

So the Tax Payer currently in the 22% and higher tax brackets gets a big tax break....and the current 10% or 12% bracket would get clobbered.

Are these onerous taxes to be applied to Food Prices ?? Gas Prices ?? Any of the other basic necessities of living ??
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Old 01-30-2023, 10:18 AM   #4
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My life savings has already been taxed once. While a sales tax might have advantages or not, I'm a no until I know that my currently saved, already taxed, net worth won't be taxed a second time as I spend it.
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Old 01-30-2023, 10:25 AM   #5
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We already had this discussion once (here It was ended, as this one will be, because the forum rule is that we do not discuss legislative proposals until they are reported out of committee.
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