RE: 23% consumption tax

Let alone this is a very unfair idea to those who have worked their entire lives and are now on a fixed income. Retirees have already "paid into the system" and deserve a break on their income taxes, yet here we are, ready to milk their savings accounts to support our current, corrupt governing system.

So what about Social Security Income? Will social security payments rise to the levels of this consumption tax at 23%? (short answer is no). Therefore, higher taxes and less pay for the retirees, sounds fair, huh?

Let's examine how this consumption tax will effect millenials and zoomers. Can you imagine wanting to buy a $10,000 automobile and paying $2300 in taxes? This consumption would effectively price out most home purchases, even a simple $100,000 home would demand a $23,000 TAX.

Tell your senators and representatives not to vote for this oppressive idea or the next generations will surely be living in pods, not owning anything, including a car, and they will be begging to eat the bugs.

>>18188070

to the detractors, you seem to be forgetting small businesses are the backbone of the USA and a lot of these businesses a sole proprietorships that pay a 15% tax. So the suggestion is to raise their tax by 6 MORE percent?

The small business industry makes up 99.9% of all businesses in America. Therefore, it should come as no surprise that small businesses create many job opportunities. According to the SBA, 1.5 million jobs are created by small companies each year and account for 64% of new jobs in the US.

https://www.chamberofcommerce.org/small-business-statistics/

The self-employment tax rate for 2022-2023 As noted, the self-employment tax rate is 15.3% of net earnings. That rate is the sum of a 12.4% Social Security tax and a 2.9% Medicare

https://www.nerdwallet.com/article/taxes/self-employment-tax