Although NOT MY idea, this is an awesome start for real "change", and fairness to all.
The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including a progressive national retail sales tax, a prebate to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue neutrality, and, through companion legislation, the repeal of the 16th Amendment.
The FairTax Act (HR 25, S 296) is nonpartisan legislation. It abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing state sales tax authorities.
The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.
The FairTax:
Enables workers to keep their entire paychecks
Enables retirees to keep their entire pensions
Refunds in advance the tax on purchases of basic necessities
Allows American products to compete fairly
Brings transparency and accountability to tax policy
Ensures Social Security and Medicare funding
Closes all loopholes and brings fairness to taxation
Abolishes the IRS
Comments (7)
VAT, Fair tax are not fair taxes at all, sounds more like pay off money to the mob. Two people trade something to help each other then a third party says they have to help him or he will hurt them. Not very fair I would say. I would have a resource tax. I would tax people on the resources thay use up, destroyed, or any thay keep for thier private use. The resources of the earth should be shared by all and if someone use up, destroyed, or keep any for just thier private use thay should pay the rest of us for those resources through a resource tax that can be use to pay for a fair government that helps everyone and any money left over can be rebated back to the rest of us. Since the rich use the most resources thay would pay the highest taxes. If you reclaimed resources you can get a tax credit, like cleaning up a river or recyling trash.
I agree that something needs to be done when the tax code is 40,000+ pages long. It needs to be simplified, standardized, and FAIR. I hadn't heard of this Fair Tax idea until this year and I like it.
I have a problem with the "resource" tax suggested in the comment. I assume that you probably live in a city. You state you would tax someone for keeping a resource for private use. Your resource tax is suggestive of socialism. Listen to yourself. "shared by all" "pay the rest of us for those resources" "pay for a fair government that helps everyone". Yikes. Earth's resources don't belong to all people. Us private use people make your food! Your entitlement mentality is scary and would never be tolerated where I live.
I think a better idea is a combination tax as described at http://pushbackuntil.com
Sjjames5: I didn't write the Fair Tax concept, I was just sharing. (OHHH, you were talking to debdaveandpets...LOL) Something needs to be done with our tax system, and I like the idea that monies can be spent as WE choose, and will be taxed upon spending... more to learn, I'm sure. This was a concept new to me as well until recently. :)
dlrichter: I am going to check "pushbackuntil" out thoroughly, as it looks interesting. I am harshly against "socialism", in any form, and am a firm beliver that if you work for it, you should be able to say where it goes. Have a great night! :)
IF you haven't yet, and it appears many people have not, READ THE BOOKS by Neil Boortz and John Linder: The Fair Tax Book: Saying Goodbye to the Income Tax and the IRS AND
FairTax: The Truth: Answering the Critics. Use your common sense and you will see that the government would be able to fund ANYTHING well if the Fair Tax is impelemented. And Americans would ALL be paying their fair share because we are all consumers! Only necessities would not have a tax. It makes good sense -- except to those who are still sold on a socialistic model of government!!
I believe this may be an over simplified idea. There are a variety of concerns that the proposal does not speak to. Funding for a variety of federal programs as well as subsidies for essential state and local programs. I also do not believe in socialism however we are a nation dedicated to the support of all our citizens rich or poor. I believe that no one needs six vacation homes or a yaht on every lake within a hundred miles. My point is the rich are rich the poor are poor you do the math.
wdin2009:
While I do not support the Fair Tax (I support the tax described at http://pushbackuntil.com, which is a combination sales/income tax), I beg to differ with you on the "over simplified idea." We get bigger government because we do not keep things simple. Why else is the tax code thousands and thousands of pages long? It is ridiculous. Government (and taxes) need to be kept simple - otherwise they steal and rob from us "legally." Also, although no one "needs" those homes or yachts, should it be your or anyone else's business how I spend my money? And besides, who builds those homes and yachts? Not saying you are a liberal, but the liberal's/Democrat's primary emotional weapon is jealousy and envy. That is why they use class warfare to such a great extent - because it panders to the basest human emotions.