"Fair Tax" Follies
I only bring this up because I know clients are going to ask us about it and we need to be prepared to explain there is bipartisan agreement that it's a stupid idea. And now it's the lead story on Politico, which smart people should follow.
https://www.politico.com/news/2023/01/29/gop-fair-tax-sales-00079609
"House Speaker Kevin McCarthy has backed his fellow Republicans into a corner with one of the promises he made to his far-right flank to land his job: opening the door to considering fringe legislation that would replace the income tax with a federal sales tax and abolish the IRS. Most GOP members appear determined to distance themselves as much as possible from the idea, and McCarthy himself said this week he doesn’t support the legislation. But Democrats aren’t going to let the issue die quietly. They’ve been more than happy to use it as a cudgel to portray Republicans as dangerous radicals."
