At the 2023 Conservative Political Action Conference (CPAC) last week, Republican politicians and far right media personalities continued to push for a complete overhaul to the tax system. They’re still campaigning against necessary investments in the IRS and claiming Biden wants to double the IRS to harass and tax every American.
Given their disdain for going after wealthy tax cheats, it’s no surprise that just a few weeks ago, House Speaker Kevin McCarthy pledged to hold a vote on a bill aimed at abolishing the IRS and the entire federal tax code.
This proposal seeks to eliminate everything from income taxes, to payroll taxes that support Social Security and Medicare, as well as estate and gift taxes which only affect the extremely wealthy. Their plan is to replace it with a national sales tax that would be at least 30% and potentially upwards of 60% on some products and services.
A national sales tax of this size would have catastrophic effects on the daily lives of people across the country. This would have a significant impact on household budgets, making it harder for families to save for their future while worsening wealth and income inequality.
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