For the last week, I have been listening to commentary from Republicans and media about what must be the most insane proposal of the last century, doing away with the income tax and establishing a 30 percent VAT tax. Since even a fourth-grade child could figure out that the effect of such a scheme would be to free the rich from taxation while, at the same time making taxation unbearably painful for the poor it is obvious that this scheme is not only the full measure of Republican corruption in service of the uber-rich who have rented them, it also reveals clearly to any voter who can do elementary school math that the Republican Party has zero interest in the wellbeing of the people who voted them into office. It also makes plain for all to see the state to which American governance has fallen because of the evil circus going on in the House. I assure you from my own experience in that world, that every world leader has taken the measure of the United States now that the Republicans have made it clear how they intend to proceed, Geopolitically, the one positive counterbalance is what we are doing to support Ukraine
Senator Elizabeth Warren hosts a Senate hearing at the JFK building on T Safety and Leadership Failures on October 14, 2022. Credit: John Tlumacki / The Boston Globe / Getty
Democratic and progressive lawmakers are criticizing the GOP for an extremist tax plan that Republicans are planning to soon put to a vote in the House that would completely overhaul the tax system to blatantly favor the rich.
In what seems to be a concession to the most far right members of the Republican caucus, House Speaker Kevin McCarthy (R-California) has teed up a vote on the so-called Fair Tax Act. The bill would get rid of all federal taxes, including estate taxes and individual and corporate income taxes, and abolish the Internal Revenue Service (IRS). In place of federal taxes, the bill would impose an effective 30 percent national sales tax, a number that could easily balloon in the future.
The result would be a much larger tax bill for the working class and a hefty financial gift to the wealthiest Americans. It is hard to overstate how regressive […]
