I’m strongly opposed to that.
I don’t like giving the government ANY form of new tax. Nothing that can be progressive and increased. Nothing unless something else is permanently repealed. Which will be hard to do.
What they should do is create an “Annual Report Fee” for every legal entity on the books. Shell companies, LLCs, Partnerships, all forms of corporations. Every one.
You could graduate it somehow from say $10 for a tiny company up to $250 for a large corporation. Base it on gross sales, number of entities in a consolidated group, whatever... just get the money.
Every state has this. Think of the 10s of millions I bet it would create.
Tariffs and sin taxes will do it. We import everybody’s stuff and we will get 100% of our paychecks. I’ll quit drinking.
The lobby profession would dearly love your idea.
What is easier on the public and on business than the state sales tax?
As for two taxes, income and sales. we have that in every state other than I think Florida.
The idea that we can not reduce income tax to nearly zero while instituting a sales tax is BS. We simply make the reduction of or elimination of the income tax a condition of the sales tax.
Why do you want to do that? That makes no sense. Instead of making a consumption tax, you want people to form fewer companies?