Saturday, March 25, 2017
Would a graduated sales tax work in lieu of an income tax? Like say 8% on sales under $1,000 and 12% on sales between $1,000 and $10,000, 16% on sales between $10,000 and $100,000, and 20% on sales between $100,000 and $250,000, and 25% on sales between $250,000 and $500,000, and 30% on sales above $500,000.
This would make it impossible to find loopholes around it and to put corporations overseas to avoid paying US taxes, ensuring everyone and every corporation pays taxes whenever they spend money. Now if a corporation buys products overseas to sell in the US perhaps a matching graduated import tax could work as well.