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What Is a National Consumption Tax? How It Differs from Income Tax

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What Is a National Consumption Tax? How It Differs from Income Tax
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Some U.S. states have sales tax rates as high as 10%. Other states impose no sales tax at all. Consumption tax, the category that includes sales tax, is often a footnote at the end of a receipt, but it can impact your wallet all the same. A tariff is also a consumption tax. And tariffs are becoming quite familiar to American taxpayers, thanks to President Donald Trump’s ongoing campaign of…



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