replace federal income tax with a sales tax. Use existing sales tax collection systems currently used at stores and companies. If you have a 15% fed sales tax on all purchases, (excluding food, medical, mortgages and rent) then everyone would “ pay their fair share.”
Everyone working would no longer have income taxes withheld from their paychecks.
This will give people more money to pay the sales tax.
This saves the government a lot of money. Since existing business charge and collect the sales tax……. There is no need for the IRS. Imagine all the empty IRS buildings that could be sold and used to pay iff the national debt. All the IRS workers laid off. No more audits…. No more April filing of tax forms.
If the federal sales tax was 10%…. It would generate a log of revenue because everyone would pay their fair share. Everyone buying something would pay tax ….
Even those who currently skip taxes because their money is from illegal business (selling drugs… stealing, embezzling, etc ). All these people buy things and would be charged a sales tax…
Undocumented people who are often paid in cash seldom pay income tax…. These people buy things… and would be taxed.
Even foreigners visiting the country would pay sales tax.
Everyone would pay their fair share.
No more tax loop holes.
No more complicated tax forms….
What about the poor? (Most of them purchase food, rent and medical which are not taxed)….
What about incentives to invest in the stock market or purchasing homes? (We don’t tax capital gains or income…. Only on purchases - so it would increase investments. Also with peoples paychecks not having income tax withholding — they have more cash to invest).