why would anyone want to be in small business retail after this? they will have to charge a higher price whether or not they have enough profit to make a living. And they’d lose business to the guy across the street who charges a lower price because most of his transactions are “under the table”
Ask landscapers, roofers, drywallers and other trades whether they are already being undercut by illegals avoiding the current tax scheme.
There is no perfect tax; there are just some that are “better” than others.
Personally, I’d rather a system that takes a % off the top at the source than one where I and every other individual and business entity spend hundreds of hours a year in paperwork and thousands more in accounting services to satisfy the government enforcers.
Are you opining or generally interested in learning?
If you seek learning, I will be happy to answer your questions.