Quote:
Originally Posted by RACER X
if you haven't heard
9% corp tax
9% income tax
9% fed. sales tax
opinions?
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Would suck for me.
My state taxes would likely go up my effective overall tax rate would go up.
Lets add in that state sales tax is already 8.25...add on federal and now I'm paying 17.25% on everything I buy (food, clothing,fuel...vehicles).
Inflation...yeah that would suck. Cost of goods and services would rise.
supply chain would in plenty of industries would have to be revamped.
Also, I would lose out on all the little stuff like pre tax 401k, commuter, health accounts. No more tax breaks for home ownership or dependents.
I can think of a bunch of other reasons why it would suck.