Floyd County, Iowa | Hilltop Husker - 3/15/2024 11:41
Absolutely.
A sales tax high enough to replace income tax will be unfair for retired people who don't draw a wage and whose whole retirement plan wasn't set up for such a system.
It makes the poorest people pay the highest percentage of their income to run the country while the wealthiest pay the least of their income.
It would eliminate the irs but a new system would have to go in to replace it. One that would need to sift through billions of transactions.
You don't have any experience with sales tax reporting, do you? It's simple.
As a consumer, when you buy something, the sales tax is automatically added to the sale, and the seller/store collects it.
As a seller/store, your monthly report shows you had sales for the month of (example) $1000.00, and the consumption sales tax is 2%, you send in $200.00. It ain't hard.
Correct me if I'm wrong, but doesn't South Dakota and Florida not have state income tax, but derive their income from sales tax?
|
Are high wage earners paying enough taxes?
