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30 sats \ 2 replies \ @Undisciplined 20 Feb \ parent \ on: House GOP Bill Aims to Abolish the IRS and Rewrite the Tax Code Politics_And_Law
Maybe they would let states make some of those decisions, since this is piggy backing on the state (or local) sales tax systems.
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30 sats \ 1 reply \ @freetx OP 20 Feb
Maybe they would let states make some of those decisions
Great point. Probably the cleanest solution.
An alternative idea is to just tax everything (any time money changes hands for whatever reason), but make it a very low rate like 2%. In some ways this would be "fairest" since it wouldn't impact daily necessities but then also capture things like stock trading, etc.
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30 sats \ 0 replies \ @Undisciplined 20 Feb
My dad read about a proposal to do that years ago. He was quite taken with the idea.
My main objection to that is the introduction of a bunch of new points of friction in our transactions. If a larger rate is levied at the point of final consumption, the tax incidence will impute it's way back through the production structure.
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