The “Fair Tax” plan, put out by House Speaker Kevin McCarthy, would replace our present federal income tax with a cutting-edge system of national sales taxes. Congress will now determine whether or not this extensive change will be implemented.
“To become speaker of the House, Kevin McCarthy reportedly promised a floor vote on the Fair Tax Act,” the National Review reported. “The bill would replace the existing income, payroll, and corporate taxes with a new national sales tax. The bill says the sales-tax rate will be 23 percent. What it means is that a product that costs $100 without the tax will cost $130. (The $30 in taxes is 23 percent of the total price of $130.) Most people will think of that as a 30 percent tax.”
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Each month, millions of Americans experience financial hardship as the absence of relief causes their hard-earned income to diminish. This plan may alleviate this load and lessen financial anxiety across the nation.
Republicans have generally supported the initiative, even if not every member of their party has done so.
“This is a political gift to Biden and the Democrats,” remarked Grover Norquist, head of the taxpayer advocacy organization Americans for Tax Reform (ATR). “I think that this is the first significant problem created for the Republican Party by the 20 people who thought that there was no downside to the approach they took.”
It’s opposed by several GOP lawmakers as well.
“I would almost expect it to be in [Carter’s] interest to pull that bill rather than have a vote on it in committee,” a tax lobbyist told Semafor. “I don’t think there’s any favorable people on the committee with an opinion in support of the Fair Tax.”
Rep. Chip Roy is advocating a different strategy by stating that he would not support any new taxes until the 16th Amendment, which created America’s system of progressive taxation and income tax withholding, has been repealed.
“I will not support creating a new tax without repealing the 16th amendment,” he asserted.
The 16th Amendment states: “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.”
The House is fighting the IRS’s policies aggressively under Speaker McCarthy’s leadership.
His first action after taking office was to cut the funding allotted for 87,000 additional IRS agents. This action demonstrated his administration’s dedication to budgetary management and austerity.
Following his victory, House Speaker Kevin McCarthy has pledged to give the GOP’s first measure first attention. This important pledge advances the GOP’s objectives at this time of new leadership.
“I know the night is late, but when we come back our very first bill will repeal the funding for 87,000 new IRS agents,” McCarthy said.
They just need to do away with the convoluted tax system in place now and replace it with a flat 10% income tax rate on everyone, corporations included…no deductions or other bs! I realize that would put a lot of accountants and tax lawyers out of business but oh, well!😁
I agree that the present income tax system needs revamping. However, a national sales tax will disproportionately harm the lower income families. What about retirees who don’t pay taxes on their social security and are still barely making ends meet? Having to dish out another 23 cents on the dollar for food, etc. will be a major strain on them. Are they going to get a tax exemption?
I am a tax preparer with over 36 years experience and have been asking to fire the IRS which stands for Idiots Reign Supreme! Every year they show me they can be more stupid and totally dysfunctional!
The National Sales Tax should be only 10% and not on food, services, prescriptions or medical devices so that the poor don’t get hit as with this national sales tax you will not be getting the freebies such as Earned Income Credit, Child Tax Credit or any stimulus in the future as you won’t be filing a tax return.
People have said but you make money doing taxes. I would make more money on teaching people how to be in business and helping them with budgets. Which seems to be few that actually use one.
This tax idea sucks pound water, don’t make us sorry you got there and we start and work to remove you, us voters have plenty of power and u had a very hard time arriving in there and u can be removed, so have so big thoughts about this and leave the taxes where they r iporyour our ofthere very easily. M. Kohl
Why would anyone oppose this change?
The only other thing I would ask they do is to cap it at 20% and they state that it can never be raised above the 20% and the government would have to live within its means and eliminate ALL other federal taxes!
McCarthy might be able to afford this tax but most Americans will go broke or go without! A lunch now costs around $30 and this tax would make that total almost $40! This will absolutely destroy not only restaurants but EVERY business in our country! What about groceries?!!! I don’t think so, Kevin!!!
Beginning with Obama being elected as President, the Democrats simply went totally insane to, in short, destroy our Republic. Democrat incumbents who had been indoctrinated into not just socialistic, but communistic means of govern-ment, shifted into extreme hight gear. Politicians who had been involved in our Government for very long periods of time rapidly demonstrated how to destroy a well functioning and respected world power. Corruption, which has always been a principle means of getting elected to a public or Federal office, became one of the most immoral and deplorable traits. The Democrats excelled in corruption and deceit. They became so clever and skilled at corruption that they were able to purchase a Presidential election. The twisted and corrupt minds of Democrat leaders sought to influence voters by literally throwing huge sums of money into the air – trillions of dollars. The Democrats actually believed the citizens would rejoice being given so much money and wealth – freely. Little did the citizens know that they would repay the money they received in huge amounts – by increased taxes at every corner. The goal of the Democrats was basically to entice citizens that the Federal Government should own everything and appropriate wealth where the government saw fit. The United States is virtually unable to even come within a small percentage or probability of lowering the National Debt. Protection of the United State boundries has been totally destroyed by the Democrats – insanely endorsed by Biden and his regime. There appears to be many words Democrats do not understand; honesty, morality, fairness, equality, fairness, legitimacy, fairness, respect, and respectability being just a few of those words. The United States was for decades regarded by the world communities as being the most desired country in the world in which to live and influence foreigners. Biden and his regime have all but destroyed that highly desireable reputation. Those who read this item may never again realize the freedoms they once had before the Democrats began their rape of a country. Several centuries ago, a leader of a then World Power stated “People are born with a brain that can enable them to do things animals and insects cannot do. The greatest loss a human can experience, however, is the failure to use their brain to increase their ability to learn.”
It’s about time some people with common sense was in out congress! This would did America out of our black hole of debt created by our previous leaders.
Enough of government spending under control and balance our checkbook like everyone else in America and be responsible to our children and grandchildren.
Time to de fund all three letter agencies! Gods Speed America!
McCarthy is right to get rid of the 87,000 IRS agents that crooked nutcase biden added we didnot need any more added to the IRS workers..That crook Biden loves to stick it to the American people..he is a communist and should be thrown in jail for being aanti american.That crook biden is a disgrace..FJB…
I dont know what math class you took, but all over the world 23% of one hundred dollars is $23.00, brining the total sale to $123.00. I’ve been shopping for well over 50 years now and NEVER have I encountered a situation where the merchant adds the tax first and then taxes that amount to arrive at the total sale. That is ignorant and moronic – not to mention most definitely unconstitutional.