Over the weekend I heard a well-off, middle-aged man provide his thoughts on what he'd do if he became president, at least with regard to taxes. The idea he shared was that he'd eliminate federal income taxes and replace them with a national sales tax. While I cringed when first hearing this suggestion, I hadn't done thorough research on the subject yet, so I kept my mouth shut until doing so. Well, now that I have researched the matter, it appears as though my first reaction was indeed the correct one. It's estimated that the revenue in this country for 2019 will be approximately $3.44 trillion and that 50% of that, or $1.824 trillion, will come from individuals' income taxes. In order for us to make up that lost revenue, we'd need to increase the (exclusive) sales tax rate to 44%. The average state sales tax (including D.C.) is 5.1%. So an item which costs $20 before tax currently averages to cost $21.02 after tax. If a national sales tax were implemented, h...
Randomness. Politics. Songs. Poetry. Short Stories. Essays. Satire. Research. Sarcasm. A mix of Jon Stewart, George Carlin, Weird Al Yankovic, The Onion, FactCheck.org, and Gandhi. former co-host of "The Tracy & Craig Show" (which had previously been called "The Tracy Fort Show") and current host of "I Feel Snitty," author of the "LOL at the GOP" series, and Donald Trump's worst nightmare (besides facts).