Fair tax act

[tofor]

@DigitalC

I wish we’d stop treating all this stuff both parties are suddenly so interested in passing now that they know neither has a chance to pass anything as news.

This is not a new proposal.

@thorny_locust

Will the rebate provide as much benefit as the current benefits they intend to cancel?

Obviously it can’t be exact for everybody, but as originally proposed it was meant to be roughly equivalent.

@Little_Nemo

This proposed tax is not a progressive system. If it was, the Republicans wouldn’t be proposing it.

This proposal is designed to help wealthy people pay less taxes.

That is the very definition of an Ad Homonym fallacy. Wealthy people often pay little to no tax. Under FairTax they would pay close to 23% on their purchases (how many wealthy people do you know who buy used anything?).

@Little_Nemo

Normally, yes. But lowering tax rates for the wealthy is one of the few things the Republicans actually enact into laws. Their wealthy donors pay for results, not just promises.

That is one reason this bill has no chance of going anywhere. The FairTax would be really expensive for the wealthy.

@DigitalC

Of course, but they have no chance of doing anything of the sort for the next couple years at the minimum. It’s all performance theater.

True enough. I’d be shocked if this bill made it to a vote, but even if it passed it would be purely performative.