Abolish the IRS
Well, tax day is coming up and I figured today would be a good day to highlight a proposal for a national sales tax, also known as the Fair Tax.
A while back I read the book, written by Neil Boortz and John Linder (R-GA). Basically, the Fair Tax calls for the abolition of the IRS, an amendment abolishing the Income Tax (I don't see this ever happening), and the creation of a national sales tax of 23 cents per dollar.
The 23% sales tax may seem high, but it is estimated to bring in the same amount of revenue as is currently brought in through the many taxes. The 23% tax is only applied to new items (anything resold has absolutely no tax).
Every person receives a monthly rebate to cover expenses for necessities. The most beneficial aspect of the Fair Tax is that those who spend more, pay more in taxes. If you don't buy new items, you don't have to pay taxes.
For more information, visit the Fair Tax FAQ website.
Whether this system of taxation is better or worse than the current system, or the Flat Tax proposal, remains to be seen. But perhaps the best proposal of all would be one that lowered everyone's taxes.
A while back I read the book, written by Neil Boortz and John Linder (R-GA). Basically, the Fair Tax calls for the abolition of the IRS, an amendment abolishing the Income Tax (I don't see this ever happening), and the creation of a national sales tax of 23 cents per dollar.
The 23% sales tax may seem high, but it is estimated to bring in the same amount of revenue as is currently brought in through the many taxes. The 23% tax is only applied to new items (anything resold has absolutely no tax).
Every person receives a monthly rebate to cover expenses for necessities. The most beneficial aspect of the Fair Tax is that those who spend more, pay more in taxes. If you don't buy new items, you don't have to pay taxes.
For more information, visit the Fair Tax FAQ website.
Whether this system of taxation is better or worse than the current system, or the Flat Tax proposal, remains to be seen. But perhaps the best proposal of all would be one that lowered everyone's taxes.
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