Posted by: 2970174?
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Archived on: 4/14/2019 10:00:00 AM
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[–] 16091071? 0 points 1 point 1 point (+1|-0) ago (edited ago)
I tried reading through the text of the bill. WORSE than the IRA and income tax. 23 percent. Added to the current 10 percent that is one third of my income off the top..
[–] 16112261? ago
The Irish Republican Army?
[–] 16112776? 0 points 1 point 1 point (+1|-0) ago
Individual Retirement Account
[–] 16093443? 1 point 0 points 1 point (+1|-1) ago
Part of the bill gets rid of all other federal taxes and the IRS.
[–] 16093746? 0 points 1 point 1 point (+1|-0) ago
True, but it also sets the federal sales tax at 23% for the year 2021. Add that to the 10% state and local sales tax I already pay and that is 1/3 of my income off the top to the government. Then there is Social Security which supposedly is in there but I did not find it, gasoline tax, federal excise tax on items such as tires, and who know what else.
I pay about 8 to 10 percent of my income to the IRS. That is bad enough. To pay 23% to the federal government for everything I buy is off the table.