New Bill introduced will eliminate the IRS and replace federal income tax with a "Fair Tax" bill
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You should read about the Fair Tax. Part of the package (at least the original proposed version, not sure about this one) includes a provision where the government sends you a check each month or year to offset all consumption taxes up to the poverty level.
Additionally, with the removal of payroll taxes and other embedded taxes, natural competition pressures would push down prices after some months.
Check it out and see - most of the objections I’ve seen to it are addressed.
It sounds like it goes on the same guidelines as John Linder's plan in the 2000s. For those unaware this is far from new. Boortz advocated for it daily on his radio show.
The FairTax Book Hardcover
FairTax: The Truth: Answering the Critics Paperback
Competition should already be driving prices down, but it doesn't really happen when all of your grocery chains are owned by one or two corporations.
Even with the monthly payments, the poor would still pay more in taxes, and the middle class would fork over a larger amount. Not to mention this is basically diet socialism.
The removal of payroll taxes would be nice from a business Administration perspective, but if it costs the same at the end of the day, I'm not sure if that gets us any further than we are now.