Radical US Tax Idea

[August1991]

Here's an idea that Bernie Sanders and Rand Paul would possibly agree with. And it may solve the deficit problems.

A 20% federal sales tax (VAT, consumption tax) with exemptions for food and rent.

No income tax below $100,000 - a flat 10% above that.

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The IRS would have far fewer people to collect from - but the IRS would have access to more data.

Rich people - people who buy stuff - would pay tax. (People who save would avoid tax. Poor people would pay little.)

Foreigners who buy stuff in America would pay the tax.

[Great American]

First of all, the only thing that will solve the deficit spending is less spending.

As for taxes, a national sales tax would have to be accompanied by abolishing income tax and the IRS. Trust me, I know of what I speak.