Tuesday, January 31, 2023

30% tax

 Ok- let me get this straight - the GOP wants to do away with the IRS and levy a 30% sales tax on everything I buy ??

On the Surface this seems like a good IDEA - the SAME tax - 30% -  for EVERYONE . however,, hold the Phone  = they are not proposing a 30% tax on Wages & Earnings ... but on SALES tax....

OK - Let's check it out....

Say I make $50K per year .   and I buy Groceries (could be anything , furniture, car, clothes, etc etc)  of $150 per week  - that times 52 Weeks = $7800 per year on Groceries - PLUS a 30% tax on that...

so $7800 x 30% = $2340 - MY total groceries are now -  $7800 + $2340 = $10, 140 Dollars... GOT IT !?!?

SO I am spending  what percentage of my income on paying that flat (?) 30% tax ?

$2340 / $50,000 = 4.68% - Four point six eight percent of my income goes to that tax....  

4.68 % remember that number....


To make the math easy.. the FAMILY NEXT DOOR to me., say they make double what I make 

- $100,000

Same Math - they buy $150 of groceries per week - times 52 weeks, = $7800 per year. plus the 30% tax of $2340.

what percentage of their  income are they paying toward that flat (?) 30% tax ?

$2340 / $100,000 = 2.34 % TWO point three four percent of their income goes to that tax !!! 

2.34% versus 4.68% - the tax burden  on those making less is MORE!

UNDER TTHIS STUPID FUCKING GOP PLAN THE TAX BURDEN IS SHIFTED ONTO THOSE MAKING LESS  MONEY  AND LETS THOSE MAKING MORE TO SPEND FAR LESS OF THEIR INCOME ON THE 30% TAX. 

Wanna propose a flat tax - fine  - on INCOME !!  and DO NOT allow many of the deductions that the RICH are able to take today to show that a Billionaire makes no income cause he shows a loss on paper  therefore pays no tax !!  Bullshit ... 

IF you make  that $100,000 and pay 30% of that in tax - $30,000 is your tax burden - 

IF you make that $50,000 and pay 30% of that in tax - $15,000 is your tax burden -

NOW  you are getting to a FAIR flat tax.







No comments: