I'm sorry, now it's called a "Fair Tax".
Do you honestly think adding a 20% sales tax to every purchase made wouldn't impact consumer spending? It would be the equivalent of having 20% inflation.
Most taxpayers wouldn't pay any less in real dollar amounts and lower income people would actually pay more because they spend a higher percentage of their incomes.
And don't say it won't matter because people will be "taking home their entire paycheck for a change". Most people are too foolish to think of their income in the long-term but everyone notices when prices on goods they buy every day go up across the board.
All this is doing is shifting a tax burden from households to businesses that provide goods and services.
2007-11-29
16:02:17
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2 answers
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asked by
soupisgoodfood
4
in
Social Science
➔ Economics