Posted by
CJ -FairTax on Monday, January 12, 2009 7:25:16 PM
For the life of me, I cannot understand why more Americans are not pushing for the FairTax or a similar revenue collection system. Do they not understand there are two sides of the ledger: revenue (income coming into the government with our tax dollars) and expense (what they decide to spend the money on). We need to change the revenue side by collecting taxes on a fair, predictable basis: the fair tax. Consumers, all consumers...that means anyone that buys something, would pay a national consumer tax. Currently that tax is predicted to be 23 cents per dollar. Businesses have already included in the price of the goods we purchase, like food, clothes, gas, etc. the amount of tax they need to turn around and pay the government and the cost of hiring individuals to make sure they are in compliance. Cost of goods and services could actually be reduced if companies didn't have to pay taxes (including payroll taxes), and you would have 100% of your payvheck...including the amount currently taken out for payroll taxes, etc. Also, every family with a social security number for each family member would get a check each month, based on family size (married, 2 children, etc.) to help subsidize famiilies up to the establsihed proverty level (this is called a "prebate). So, you don't have to spend your life accumulating receipts, W-2's, etc. or trying to figure out if you get a deduction for something...you've paid as you go when you purchase goods and services with 100% of your paycheck. WOW! No more tax filings, IRS letters and heaven forbid, we might just find companies hiring people, new companies being established and jobs moving from overseas to the good 'ol USA!