[FreedomCalls]

5% National sales tax bttt!

5% wouldn't do it. It would be more on the order of 17%.

[Arkinsaw]

5% wouldn't do it. It would be more on the order of 17%.

It would be funny to see what happened when people were faced with just how much they are really paying. Bet it wouldn't stay 17% very long.

[templar]

It would be more on the order of 17%.

I favor about 30% with the elimination of all other federal taxes. I think 30% would do it.

[lewislynn]

It would be more on the order of 17%.

Try 50%....

Mr. FROST. Mr. Speaker, I yield myself 30 seconds.

Mr. Speaker, the previous speaker was asking about simplicity and how do we understand all of this. Let me read a memo from the Joint Committee on Taxation . This ought to be simple enough for the gentleman to understand.

The memorandum is in response to their request for an estimate of the budget neutral tax rate for H.R. 2525. That is the bill of the gentleman from Georgia (Mr. LINDER), a bill to replace the current U.S. corporate and individual income, estate and gift and Federal income contributions act, payroll taxes, with a flat tax on retail sales of all goods and services.

Then on the second page it has a little chart here, neutral over 5 years, 59.5 percent. That is what they want to do, neutral over 5 years, national sales tax 59.5 percent. I believe the American people can understand that.

[Feiny]

You have to factor in all the money that is not geeting collected from "cash" income...that would be under this tax.

The real solution is to abolish the IRS and cut spending in CD by at least 50%. The Feds should get no more than 3%.

[Principled]

5% wouldn't do it. It would be more on the order of 17%.

It would be 17% if we kept payroll taxes based on income and kept withholding... meaning we'd keep the IRS.

It would be 23% if we want to eliminate all income-based taxation. SS/MC are then funded from sales tax revenue.

I'm for the 23% which eliminates payroll taxes and eliminates withholding and eliminates the IRS.

[Destructor]

"5% National sales tax bttt! 5% wouldn't do it. It would be more on the order of 17%."

That beats the hell out of 28-40+%

[Leto]

Actually the only bill introduced in teh last session of congress: The Fairtax HR 2525 as an initial rate of 23%. That rate would be adjusted base on COLA provisions of SS and Medicare requirements, without a vote of congress. Given the current demographics of the US the rate would likely increase (a lot?).