In a way yes, taxes to businesses are figured in but this tax is figured in AFTER the business has determined what he intends to charge for an item. IT IS A VAT TAX and that is the type of tax that has destroyed Euopean Nations. A tax like this hits those that earn the least hardest and obsolves hedge fund guys from any taxes at all.
Oh, I agree that it will hit hard on the economy, all taxes do, but the idea that any business does not include the cost of tax in product price is fiction. All costs are passed on to the consumer. Minimum wage or tax. Sometimes the added cost prices a business out of the market but no business tax ever comes out of the pocket of the businessman, only his customers’.
Welfare recipients already don’t pay tax. I believe they should and should have their gifted monies looked at as income, don’t you?