Hi, Republicans have reintroduced one of their long held unhinged ideas to eliminate the IRS and all federal taxes and replace them with a nationwide 30 percent flat sales tax. They unironically call it the “Fair Tax Act”.1 This proposal, championed by Matt Gaetz, Marjorie Taylor Greene, Ron DeSantis, and Ted Cruz, would shift the burden of taxation away from the wealthy and onto the poor and middle class.2,3 They want to eliminate the current income tax system, including all deductions and exemptions, thereby severely damaging charitable organizations that rely on tax incentives to encourage donations from individuals and corporations.1 The proposed legislation would result in a crippling blow to the poorest members of our society as well as the critical services provided by charitable organizations. Under the proposed plan, the wealthy would no longer be subject to federal income taxes, while middle class and working families would face a drastic tax hike in the form of a nationwide 30 percent flat sales tax. This would result in an increase in the cost of all goods and services, which would be a significant burden for millions of families who are already struggling to make ends meet.4 This insane tax plan would also result in a significant decrease in federal revenue, leading to cuts in essential public services and potentially severely hampering economic growth. Congress MUST make a stand and prevent the Republican party from passing a psychotic tax plan that would be catastrophic for middle class and working families.4 Thanks for taking action, Sources: PAID FOR BY DEMAND PROGRESS (DemandProgress.org) and not authorized by any candidate or candidate's committee. Contributions are not deductible as charitable contributions for federal income tax purposes. Join our online community on Facebook or Twitter. You can unsubscribe from this list at any time. |