Governor Ron DeSantis recently and forcefully slapped the issue of dealing with the fearful wrongdoing of the IRS and the monstrous tax code it enforces on the campaign table. In the past he and a number of Republicans have endorsed a national sales tax as a way of abolishing the IRS and drastically reforming the federal tax system.
This episode of What’s Ahead argues that pushing a national sales tax—the specific proposal favored by many GOPers is dubbed the “Fair Tax Act”—would be a big mistake, even though it would replace personal and corporate income taxes, payroll taxes, the death tax and taxes on savings.
The 30% national sales tax would still leave millions of people worse off. To overcome its regressiveness, the Fair Tax plan would send every household each month a payment to help pay for essentials. This scheme alone would entail a new bureaucracy to administer it.
Several serious compliance issues are discussed as well as other flaws.
The Fair Tax Act is a snare for Republicans.
Read the full article here
