Kevin McCarthy introduces Fair Tax bill which would abolish Federal Income Tax
Kevin McCarthy has been on the offensive attack ever since being elected speaker, even shocking some of the freedom caucus members who opposed his speakership.
Kevin McCarthy in his first week as speaker abolished the 87,000 IRS agents designed to go after middle-class families and harass hard working American taxpayers.
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In a small Republican majority in the house Kevin McCarthy plans to put this bill on the floor and get a vote on it. Many republicans are in favor of lower taxes and this bill will do just that.
This bill proposed by Kevin McCarthy would replace the income tax with a national sales tax, this would help Americans who have struggles seeing their money disappear from their paychecks.
After 15 rounds of speaker votes Kevin McCarthy seems to be embracing his role as speaker, going after Joe Biden’s army of 87,000 IRS agents and now proposing a bill that would provide Americans much needed tax cuts during still very high inflation rates and struggles to even purchase groceries.
Congressman Buddy Carter who introduced the bill with Kevin McCarthy explains how it was done.
Do you support the Fair Tax bill? let us know in the comments below!
2 thoughts on “Kevin McCarthy introduces Fair Tax bill which would abolish Federal Income Tax”
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Right on! Imagine how your paycheck will look with no income tax taken off.
It’s a bad idea. 23%
Added on to existing sales taxes for city, county and state? Even if you cap the total at 23%, that’s 13-17 % federal sales tax on spending. Does that include sales tax on homes and cars? 13% is higher than my pre-retirement upper middle class marginal rate was. And the worst part is, people will then reduce their tax burden by not spending. What does the government do to stimulate the economy? Stimulate spending through interest rate cuts. This won’t work when people have incentive not to spend. So when you don’t spend it, you save it. The demand for savings will drive savings rates to 0%. This benefits the banks. The world banking elites. Time to ignore the Freedom caucus on this one. Imagine an America where people retreat into the mode of buying only what they need. The economy will implode. The answer is government self control and fiscal responsibility to reduce the demand for tax revenue.