Jan 17, 2023
There is a new bill you may have heard about that would,
1. End the federal income tax.
2. Abolish the IRS.
And instead, it would be replaced with a so-called fair tax. Instead of taxing income, they would tax sales consumption. Instead.
So, number one, how likely is this to happen? Number two, is it even fair in the first place, despite being called the Fair Tax Act? And then number three, is it even a step in the right direction?
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