[gibsonguy]

42% Think of that. Say you spring for that new TV and drop a thousand your you will have to pay an additional $420.00 more in tax. Economy killer.

[traderrob6]

I think I remember hearing on Fox that if all of Warren’s proposed programs was funded it would be more than the entire tax receipts of the Federal government in a year (some 3.5+ trillion dollars.)

[CommerceComet]

42% Think of that. Say you spring for that new TV and drop a thousand your you will have to pay an additional $420.00 more in tax. Economy killer.

Remember that this sales tax would be in addition to the income tax and other taxes that the progressives will dream up. When tax reformers talked about a 15% national sales tax, it was to replace income tax. It would have added substantially to every purchase but as its proponents pointed out, your income would have been gross income, not net of income tax withholding, so it would have evened out somewhat.

[Personal Responsibility]

“42% Think of that. Say you spring for that new TV and drop a thousand your you will have to pay an additional $420.00 more in tax. Economy killer.”

It’d get worse because that’s just the federal tax. Once the states see the feds do this, they will implement (if it doesn’t exist) or raise (if it does) the state sales tax too.