How MAGA Republican’s radical tax bill will dismantle the federal system created by Civil War Republicans
One of the promises House speaker Kevin McCarthy (R-CA) made to the extremist members of the Republican conference to win his position was that he would let them bring the so-called Fair Tax Act to the House floor for a vote. On January 8, Representative Earl “Buddy” Carter (R-GA) introduced the measure into Congress. The measure repeals all existing income taxes, payroll taxes, and estate and gift taxes, replacing them with a flat national sales tax of 30% on all purchased goods, rents, and services. Its advocates nonsensically call it a 23% tax because, as Bloomberg opinion writer Matthew...
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