You are viewing a single comment's thread.

view the rest of the comments →

1
0

[–] 16093443? 1 point 0 points (+1|-1) ago 

Part of the bill gets rid of all other federal taxes and the IRS.

0
1

[–] 16093746? 0 points 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.

0
0

[–] 16099099? ago 

At the beginning of the year you get a "prebate" to cover the sales tax on essential goods. If you're making 50-65k now, the prebate means you're still only giving 10% or less to the deferral government.

1
0

[–] 16096114? 1 point 0 points (+1|-1) ago 

your math is accurate if you spend every cent you earn. hopefully you're saving. be more ant, less grasshopper