The GOP wants to abolish all taxes and the IRS and replace them with one 30% across the board sales tax.
This means no more corporate taxes, no more Social Security, a much higher effective tax rate for the poor who spend everything they make, and a much lower one for the rich who never spend even a small percentage of their annual income.
OK, those make some pretty good talking points to counter this sales tax. But I have a different proposal. How about agreeing to that 30% sales tax, but it applies to everything the rich people buy and sell?
Exempt most basic food items, just like most States generally do that have Sales Taxes. But put this tax on Stocks and Securities. Put it on everything that those Corporations, who are people too of course, buy and sell. Maybe there should be a 20% rate for things bought wholesale to be resold to cut down on the final cost to the customer, but the corporations can’t just walk away scott free.
Put it on Real Estate, except for your personal residence, and you can only have one of those. If you change residences, then you either pay 30% on the new one you bought, or the current value of the one you just moved out of. No buying a home, fixing it up, then moving to the next place and never paying the tax. -Or maybe you get to do that once every 5 years, but not once a month.
Refigure the budget with all of this in mind, and then look at what programs might be paid for with this money. Talk about free health care for all, paid for by the rich being charged for their stocks trading. Talk about the roads being rebuilt by charging the oil and gas companies an extra 30% on their leases from federal land.
Also publish the profit margins of these companies every time they say that raising taxes on them will make them raise prices. Oh, and see if they ever lowered prices when they got a tax cut? Didn’t think so.
As Beau of the 5th column always says, it’s just a thought.