Is it Business or Politics when talking about Taxes (FairTax.org)
I love the USA and can’t imagine being a citizen of any other country because of the potential of the person you can become in our nation. Are you ready for it…. buuuuuut… no nation is perfect and should always be focused on how to do things better. Because my IQ may not be at the level of the top intellectual (I used spell check to get that spelled right. LOL) thinkers, I count on them to provide concepts and ideas that I could never imagine. The most recent one is in regards to the USA tax system. Because the average American has no chance of understanding the current 71,684 pages of tax code, there has to be a better way to more efficiently fund the needs of our nation and allow the citizens to gain a better hold and understanding of their hard earned income. Welcom to the Fair Tax! Go to the website and read a little info below:
The FairTax Act (HR 25, S 13) 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.
- 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
The last bullet may be exciting for some and very uneasy for others. As a business owner, what I see is an opportunity to improve a part of a large company, our government, to improve efficiency and increase the revenues by collecting from all. When I say all, I mean those who may be visitors or legal or illegal citizens and those who may be in professions that while they do have income, legal or illegal, we see little if none of it being accounted for through our current tax system structure.
Make time to understand the Fair Tax and see what a positive difference it can make for ALL our citizens.