Democrats revel in the GOP's 'doozy' of an idea for a national sales tax

[eliteballer]

https://finance.yahoo.com/news/democrats-revel-in-the-gops-doozy-of-an-idea-for-a-national-sales-tax-210400152.html

GOP really is just full of blowhards without anything constructive to offer.

[HoopsNY]

https://finance.yahoo.com/news/democrats-revel-in-the-gops-doozy-of-an-idea-for-a-national-sales-tax-210400152.html

GOP really is just full of blowhards without anything constructive to offer.

Why is it bad?

[Lakers Legend#32]

Republican National Sales Tax

1. 30% tax on everything.

2. Destroy retirement savings.

3. Thousands of costs in new dollars.

[Lakers Legend#32]

Nothing from the MAGOTS?

Maybe they know they are getting screwed by this.

Better for them to focus on the Culture Wars and M&Ms

[Chick Stern]

Why is it bad?

It and the “flat tax’ are schemes that benefit the wealthy, and disproportionately burden the poor. It would be a hike for 80% of Americans and a tax cut for the richest Americans.

[Nanners]

The wealthiest americans already pay zero income tax thanks to things like the carried interest loophole, blind and offshore trusts, write offs from the "charitable donations" they make to their personal "non profit" organization...etc.

From 2015 thru 2020, Trump recorded a negative income in 4 years and only paid income tax in 2 out of 6 years... and he paid a grand total of 1.1m on the 28.8m in the two years he reported a positive income (effectively a 3.8% tax rate). The only way that Trump could have saved money under this new tax scheme is if he spent less than $3.5 million over that same 6 year period.