- Joined
- Aug 9, 2010
- Location
- Coral Springs, Florida
One candidate during the Tea Party debate proposed lowering the personal tax rate to 9%, the corporate tax rate to 9% and imposing a national sales tax of 9%. Sounded interesting but it got me wondering if a sales tax instead of an income tax would curb consumption and hurt the economy. In Florida we have a 6% states sales tax so a 9% national sales tax would mean adding 15% to the cost of a car or boat purchase.
I'm not sure the consumer is psychologically prepared for that even if it did mean more money in their pockets in the long term. Interesting idea but not sure how it would fly. Would you rather pay 9% in a national sales tax in exchange for a 9% flat rate or do you think you would be worse off personally under this system? I would assume that all tax deductions would be elimited under this proposal but who knows.
I'm not sure the consumer is psychologically prepared for that even if it did mean more money in their pockets in the long term. Interesting idea but not sure how it would fly. Would you rather pay 9% in a national sales tax in exchange for a 9% flat rate or do you think you would be worse off personally under this system? I would assume that all tax deductions would be elimited under this proposal but who knows.