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wow do I have an interesting story for you guys today the Republicans in the House of Representatives will vote on a bill that would completely defund and eliminate the IRS and get rid of the income tax and replace it with a consumption tax now what is the consumption tax you might be wondering well Im gonna go into all the details of what that could mean and youre probably going to want to stick around to the end of this video because I have a special key piece of information that could impact your taxes for 2023 without further Ado lets Dive In okay guys so what is consumption tax exactly a consumption tax is a tax that is levied on the consumption spending of goods and services okay so lets talk about this because this is really new examples of consumption taxes are sales tax and value-added taxes so in other words instead of taxing you on the income that you make every single year the newly proposed alternative would be to tax you on the money that you spend on certain items e