On the "Fair Tax" issue: Charlie correctly calls it a 30% sales tax here, but watch out--its supporters are calling it a 23% tax. That's because while 30 is 30 % of 100, it's only 23% of 130. Get it?! It's imperative that we not fall into the trap of calling it a 23% tax or letting media outlets get away with that misleading number. …
On the "Fair Tax" issue: Charlie correctly calls it a 30% sales tax here, but watch out--its supporters are calling it a 23% tax. That's because while 30 is 30 % of 100, it's only 23% of 130. Get it?! It's imperative that we not fall into the trap of calling it a 23% tax or letting media outlets get away with that misleading number. This is of course setting aside the rapid shift of wealth to the wealthy we would see.
I also think it's worth noting the Marge has said she wouldn't "sign," meaning support, I suppose, a clean debt ceiling bill. So the rules package that included single-issue only bills obviously already doesn't apply to things the GOP likes.
A lot of random people in support of this are gonna painfully discover their effective tax rate is nowhere near 23%, and if passed, that's exactly what it would hit.
On the "Fair Tax" issue: Charlie correctly calls it a 30% sales tax here, but watch out--its supporters are calling it a 23% tax. That's because while 30 is 30 % of 100, it's only 23% of 130. Get it?! It's imperative that we not fall into the trap of calling it a 23% tax or letting media outlets get away with that misleading number. This is of course setting aside the rapid shift of wealth to the wealthy we would see.
I also think it's worth noting the Marge has said she wouldn't "sign," meaning support, I suppose, a clean debt ceiling bill. So the rules package that included single-issue only bills obviously already doesn't apply to things the GOP likes.
A lot of random people in support of this are gonna painfully discover their effective tax rate is nowhere near 23%, and if passed, that's exactly what it would hit.
The other funny part of this is that the IRS would continue to exist under a new name. Who do they think will collect and audit that tax?
We all know what will keep the deficit under control: reducing tax rates and eliminating the agency in charge of collecting it!
I can only shudder in the expectation of the heavy shoe of the federal government grinding down on those garage salers and farmers markets.