
As promised, here's my entry on the FairTax. Honestly, after reading and researching about this, I don't see how ANY rational person could be against this. It replaces 60,000 pages of IRS rules and regulations with a 133 page tax reform bill (currently before Congress) that will abolish the unconstitutional IRS and income taxes and replace them with a simple consumption tax (NOT a flat tax or VAT tax as in Europe). In short, rather than piling over forms or paying somebody else to figure out our taxes for us each year, we would NEVER have another IRS worksheet to fill out...let alone simply paying somebody else to figure out something so complicated that we can't do it on our own (BTW, did you know in a sample of 25 professional tax preparation agents, all 25 were given the SAME data and produced 25 different results?). A consumption tax works by collecting a 23% tax when new goods and services are purchased (cars, houses, etc., everything is only taxed once). And NO, this is NOT a 23% tax increase as MOST politicians against this will try to tell you...it is a blatant lie or an honest admission of complete incompetence to understand simple principles. Research shows that prices currently contain a 23% EMBEDDED tax rate that we are paying in order to cover the cost of taxes for the manufacturer, shipper, seller, etc. of certain goods. We are, in essence, adding our money to the bottom line of several companies so that they can pay their taxes. The 23% rate for the FairTax is designed to off set this, so if you spend $100 for an iPod before the FairTax you will NOT be spending $123 after, you will still spend $100, maybe less. Oh, and since this is a consumption tax, guess what else that means? You keep every penny you earn, nothing is ever taken out of your paycheck. You're only taxed on what you buy--YOU are in the driver's seat about how to spend ALL your money. And since taxes are collected on purchased goods, EVERYONE that buys anything will be paying taxes. In other words, all those illegal immigrants, tax evaders, and even black market runners will ALL be paying taxes. They have to buy groceries and that new Mercedes, don't they? Even tourists will be helping us out! And the lower class will not suffer, as democrats will cry (this will actually help them FAR more than any good-intentioned democrat). Most obviously, they'll be getting MORE money. They won't be sharing their paycheck with Uncle Sam. Additionally, the government will issue prebates to ensure that nobody has to pay the consumption tax on on life's basic necessities (figured using annual poverty level data and calculations on how much sales tax a household would be paying on basic necessities). And think about how our economy will take off when all the money (some $11 trillion) in overseas Swiss and Cayman Island accounts can be brought back home because the IRS and all their wonderful taxes and regulations will no longer be driving money away from the country they're designed to help. Anyways, I must stop--I could go on much longer because I'm quite passionate about this opportunity to participate in a great tax reform that will HUGELY help out our ailing country. I don't expect this to pass soon, but with enough support from us regular citizens I think it will be a reality in time. Check out www.fairtax.org for more info or just email me! BTW, check out "The FairTax Book" by Neal Boortz (several examples here come from that book). I have some copies if you want to borrow them. Let's do this!