All this talk about a flat tax got me thinking.
First, lets get this out there, Cain's plan is garbage because it is incredibly recessive. We know that The 999 plan will tax the majority of Americans more, while it taxes the rich less- its a non starter.
With that said; Would you support a 1% national sales tax that went directly into funding entitlement programs?
A 1% sales tax should generate 75 billion a year.
This small tax would be irksome, but if we were guaranteed that it was going towards entitlement programs, it would ease the pain somewhat.
There would be no exceptions, Amazon would have to charge that 1%.
Of course this 1% tax is regressive.
But, 1% is manageable, and it is going towards entitlements. So, you are going to get that money back when you retire.
If you fall into the lowest percentile, maybe you could get a larger standard or itemized deduction to compensate for the 1% tax.
Keep in mind, we already pay a flat tax when it comes to excise, tariff and sin taxes.
The difference is- this 1% tax would go directly to fund entitlements.
what do you think?
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