Republicans Plan Push For Elimination Of Irs
 

Ohhh ohhhh ohhhh ohhhhh ahhhhhhhhhhhh

I need a cigarette

Wow, just in time for the election too . . . :rolleyes:

Wow, just in time for the election too . . .:D

jinx

And the percentage paid would be the same whether you made $20k or $500k?

Seems fair to me.......

And a bit simplistic, although I laud the theory.

Hey now, us CPA's spend money on donuts and go to Walmart too. At least ill have more time to play with the car.

Interesting.
1/ goods would increase in cost substantially. Would this mean new import restrictions would need to be put in place to prevent americans from buying much cheaper goods from overseas?
2/ wouldn't the tax burden be shifted further away from certain businesses towards consumers? I'm thinking, for example, in the case of a law firm. What would they be taxed on? Stationary? On the other hand, manufacturing firms could be crippled.

ubiq, what are law firms tax on on now?

Profits I would imagine, just like all businesses.

But if consumers weren't being soaked at each paycheck, there would be more money to spend. This is interesting, but hardly new.

I called my accountant to ask what he thought of this, but he was at his country club.