Kevin McCarthy Introduces “Fair Tax” Which Would Abolish Federal Income Tax
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Not exactly. Truck manufacturers, no longer having to pay income taxes, will adjust prices accordingly. An equilibrium will be found. You probably bought a truck in the past and paid just as much to the government, but you never thought about it because it was done behind the scenes with complicated IRS compliance b.s.
What I want to see is all the damn hidden taxes taken out. Taxes on top of taxes. Scrap everything. We pay taxes, and pay for people's taxes that they have paid. The entire system is a con.
Now, we all know this will never pass. Maybe try in two years.
Agreed... and think of it, it's all a fraud anyway - they don't need to tax us if they can just print new money to infinity.
Sure they will.
I'm curious what you mean by this?
You have more faith in truck manufacturers than I do.
By not paying Income Taxes though, the bar for entry is presumably lowered, making room for more competition in that market. Assuming capitalist principles still apply, it's a race to the bottom on prices, and the vendor who provides the best service for the lowest cost wins.