Eliminate the tax code for the Fair tax/ Flat tax or Consumption tax

Finally the discussion and debate is in fact really happening in Washington DC. Yay…

So, the Trump administration and the United States has a new Treasury Secretary, Scott Bessent. Soon after his swearing in, he did send out an X post:

 

 

 

 

 

 

 

 

Now let’s check out Georgia Congressman Buddy Carter….he has some legislation:

WASHINGTON, D.C. – Rep. Earl L. “Buddy” Carter (R-GA) today introduced H.R. 25, the Fair Tax Act, to replace the current tax code with a national consumption tax known as the Fair Tax.Joining Rep. Carter as original cosponsors are Reps. Andrew Clyde (R-GA), Jeff Duncan (R-SC), Kat Cammack (R-FL), Scott Perry (R-PA), Bob Good (R-VA), Thomas Massie (R-KY), Ralph Norman (R-SC), Bill Posey (R-FL), Gary Palmer (R-AL), Jim Banks (R-IN), and Barry Loudermilk (R-GA).

Congressman Carter’s bill is 132 pages and found here. 

Imagine –>TITLE I—REPEAL OF THE IN2 COME TAX, PAYROLL TAXES, 3 AND ESTATE AND GIFT TAXES

Imagine –>11 ‘‘CHAPTER 3—FAMILY CONSUMPTION 12 ALLOWANCE ‘‘Sec. 301. Family consumption allowance. ‘‘Sec. 302. Qualified family. ‘‘Sec. 303. Monthly poverty level. ‘‘Sec. 304. Rebate mechanism. ‘‘Sec. 305. Change in family circumstances. 13 ‘‘SEC. 301. FAMILY CONSUMPTION ALLOWANCE. 14 ‘‘Each qualified family shall be eligible to receive a 15 sales tax rebate each month. The sales tax rebate shall 16 be in an amount equal to the product of— 17 ‘‘(1) the rate of tax imposed by section 101, 18 and 19 ‘‘(2) the monthly poverty level.

There is certainly more in the draft of the bill sho check it out….let the discussions begin.

Congressman Carter’s bill suggests a 25% consumption tax while other previously suggested proposals are at 17%. Note that here. 

Maybe with all the artificial intelligence chatter, AI can figure out what is the best option to replace the IRS tax code.

Posted in Citizens Duty, DOJ, DC and inside the Beltway, government fraud spending collusion, The Denise Simon Experience, Treasury, Trump Administration.

Denise Simon

One Comment

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