Congressional Republicans are debating a new tax plan: one that would eliminate income and estate taxes in favor of a single, national 23% sales tax. (Experts say it's actually a 30% tax.) It's not a particularly popular idea, even with many Republicans. But Speaker Kevin McCarthy, as a concession to winning the Speakership, promised a group of Republicans that the bill would get consideration. Some Republicans support it on grounds of fairness. Senator Chuck Schumer predicts it would cause the next Great Depression.
Our guest tries to sort it out, in a kind of Taxes 101:
- Kent Gardner, former chief economist at the Center for Governmental Research
