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Retailers Speak Out Against Proposed Consumption Tax

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By: TOM BRANNA

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The National Retail Federation (NRF) spoke out yesterday about the comments made by Federal Reserve Chairman Alan Greenspan supporting a national consumption tax. The key national retail sales tax proposal before Congress is H.R. 25, the Fair Tax Act, sponsored by Representative John Linder (R-Ga). The Linder legislation would replace the current federal tax system with a national sales tax that would add 30% or more to the cost of not only retail merchandise, but also a wide range of goods and ...

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