Like other 2024 contenders, DeSantis supported a nationwide sales tax system known as the “Fair Tax.” Less than a month after joining Congress, the Floridian co-sponsored a bill that would have abolished the IRS and empowered states to collect what would start out as a 23% national sales tax*. (Different calculations could mean that the tax would be 30%)
Do you pay 30% tax now?
I pay more than that now.
This would also replace FICA, a combined 30% tax on you and your employer, which ultimately all comes out of your pocket. So any way you look at it, a 23% national sales tax is a huge tax cut for everyone, eliminating the need for a large IRS bureaucracy and catching billions in black market money because criminals buy stuff too.
It’s a win for everybody and if Trump had proposed it I bet you’d be all for it.
No, Jay or whatever your name is. That's not how the FairTax works. And DeSantis is pushing a Flat Tax which is an Income Tax, which always grows back to its monstrous self.
I'll explain in a moment why the FairTax isn't going to rip us off for 30% or whatever calculation is used.
But first to the real point:
Would you trust him?
Why not?
Because he's a liar. He hasn't earned anyone's trust.
As for the FairTax, first read in #13 of this thread an eeny-weeny mini-primer on it.
Then, take the following simple short example:
That roll has been taxed up and down its supply chain. It's got around 25% federal taxes embedded into its $2.99 price.
It's price on the shelf without all the embedded federal taxes is $2.39.
What the FairTax does is take that $2.39 roll on the shelf, bring it to the checkout counter and add the federal 25% back on so it's $2.99 out the door.
To get a short primer on the FairTax as opposed to the history of the Income Tax, don't forget to see #13 of this thread.
And remember the Income Tax started out as a Flat Tax. A flat tax always grows into the monstrosity we have today, always