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Buddy Carter proposes Fair Tax Act to eliminate IRS and simplify taxes

Representative Earl Carter has introduced the Fair Tax Act (H.R. 25), aiming to abolish the IRS and replace the current tax system with a national consumption tax. This legislation would eliminate personal and corporate income taxes, payroll taxes, and others, simplifying compliance and promoting economic growth. While supported by several Republican representatives and advocates for free-market principles, critics warn that the consumption tax could disproportionately affect lower-income individuals.
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United States Dollar Apple Inc. USA Andrew Clyde John Linder Asa Earl Carter Marisa Coppel Scott Perry John Carter Barry Loudermilk Eric Burlison Show more
Finance & Economy, News Article
15:09 13.01.2025
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