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Reply to "Wages, Inflation, the Fed, and my sad takeaway"
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[quote=Anonymous]If Republicans get their way and pass the 30% consumer tax to eliminate income tax, things will get a lot uglier for the working class. Because, it's not just 30% - there will be rate hikes on top of that to cover medicare and social security. Meanwhile, businesses are tax exempt, meaning workers will pay ALL of it. Business owners and the rich, meanwhile, will set up shell companies, and will buy their real estate, their boats, planes, vehicles and everyday goods through the company, and will avoid all of the taxation. And, there will be nobody to go after them for it, because their plan is "so simple that we can eliminate the IRS."[/quote]
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