Friday, November 05, 2004

Republicans Will Establish Huge National Sales Tax

But while some think the system sounds good, critics dispute Linder's expected tax rate of 23 percent. William Gale, an economic expert at the Brookings Institution, estimated that to replace the income tax, the sales tax rate would have to be more than 26 percent. Other economists place the number at 40 or 50 percent.
Adding to this chorus, Weinstein suggested that 30 to 36 percent would be more realistic, and said he worried about the effect of a national sales tax on consumer activity. --Fox News, 11/05

Can you imagine doubling or tripling the cost of everything you currently buy--from chewing gum, to shoes, cars, houses?


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