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Republicans now want to
eliminate
the national income tax and replace it with a national consumption tax.
A consumption tax is a tax on what people spend, rather than what people earn.
Love Republicans logic by they assume all voters are as dumb as republican voters.
Household earnings $87,431
Total household expenditures $66,928
Housing expenditures $22,624
Transportation expenditures $10,961
Food expenditures $8,289
Increase in household expenditures from 2020 9.1%
Percent of people’s income devoted to living expenses 76.5%
Top 1% of U.S. Earners Now Hold More Wealth Than All of the Middle Class
consumption taxes is that they tend to be regressive. Regressive taxes absorb a larger share of the earnings of people with lower incomes than of people with higher incomes. This is because people with lower incomes use a larger portion of their income for consumption than do those with higher incomes.
Do republicans actually think the use the same % of their income to live as middle class Americans
Ya ok
Posted from my iPhone/Mobile device
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