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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRepublicans Are Preparing To Hit Consumers With A Horrible New Tax
Few people are even aware of what the Republicans are getting ready to hit them with. There has been virtually no debate or public discussion about this new, horrible tax, yet in one of those strange fits of collective, self-destructive behavior, numerous GOP lawmakers are ready to enact it.
Heres how, in essence, this sneaky, anti-consumer tax works. Importers will no longer be allowed to deduct an item as a business expense. To simplify things, let's say a store imports a pair of sneakers for $40 and then sells them for $50, making a $10 profit on which it would owe taxes. Under the Republican plan, however, the retailer wouldn't be able to deduct the $40 it paid for the sneakers. In fact, it would owe taxes on the entire $50! And who, ultimately, pays this tax? You, the consumer, in the form of higher prices or fewer choices of where you can shop. Retailers and their customers will be hit.
http://www.forbes.com/sites/steveforbes/2017/01/11/omg-house-republicans-are-preparing-to-hit-consumers-with-a-horrible-new-tax-that-will-harm-trump-and-hurt-the-economy/#581c736b641e
unblock
(52,439 posts)making it hard to export, and leading to plant closures and layoffs as a result.
why do republicans hate business so much?
randome
(34,845 posts)Yes, we should pass laws for strong incentives for American companies to hire and build in America. Other than that, the entire world is so interconnected now, it is impossible to prevent the free flow of goods and services across borders.
If Trump and the GOP think it's easy to force Mexico to build some sort of stupid wall, they are among the most naive of God's Creatures.
[hr][font color="blue"][center]Treat your body like a machine. Your mind like a castle.[/center][/font][hr]
Hoyt
(54,770 posts)JHB
(37,163 posts)... by flat-tax promoter Steve Forbes?
The topic is worth reading up on, and I'd like to be able to tell what parts are Steverino's spin.
superpatriotman
(6,254 posts)The true price of slave labor-produced goods will finally be revealed