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To: Kaslin

Does anyone have an opinion on replacing the payroll tax with a 1% national sales tax to fund SS and Medicare?


6 posted on 02/08/2013 8:27:24 AM PST by csmusaret (I will give Obama credit for one thing- he is living proof that familiarity breeds contempt.)
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To: csmusaret

You mean add to, they will never drop one method for another only compound them.


18 posted on 02/08/2013 8:56:45 AM PST by Resolute Conservative
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To: csmusaret
Does anyone have an opinion on replacing the payroll tax with a 1% national sales tax to fund SS and Medicare?

A one percent sales tax wouldn't fund it. In 2012 we spend roughly $1.45 trillion on Social Security and Medicare. For a 1 percent sales tax to cover that you would have to have $143 trillion in taxable sales. That's considerably higher than our total GDP by a factor of 8 or 9.

23 posted on 02/08/2013 10:08:41 AM PST by DoodleDawg
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