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Neil Boortz and John Linder are releasing a new book on the Fair Tax. In case you haven’t heard of this before, Matt Towery at townhall.com has this summary:
The FairTax would eliminate the federal income tax and the IRS along with it. Concurrently, it would establish a national sales tax on retail consumption.
It would eliminate the current crazy quilt of indecipherable tax code regulations that bogs down businesses and befuddles families.
It would make each of us the master of our own financial destinies. If you want to spend your money, that road is wide open to you with the FairTax. You’ll certainly have more take-home pay.
If you want to save instead, you won’t be penalized for having rightfully earned your money in the first place.
Let me emphasize this– if you made $50,000, you would take home $50,000, not the number you currently get after taxes. You would only be taxed when you make a purchase. Sure, that rate would be higher than it is now, but you would get a rebate check for necessities based on family size at the beginning of every month.
It’s a great idea and I hope this book gives the idea traction and we can get out of this income tax system with all of its loopholes, etc.
Before 1933 / Franklin D. Roosevelt, the United States was dept free, it didn’t have the Federal Reserve, the I.R.S. , Social Security, nor was there taxes. But Roosevelt wanted to add a tax. Before 1933 the United state was on the Gold & Silver standard. For every dollor one had they could trade it for equal value in gold. In the United States Constitution in section 10 it states thet the United state must be on the gold and silver standard & it can’t be taxed. Roosevelt wanted to go around this so he created “The Federal Reserve” & the “I.R.S.” this money is not real money, it is federal reserve money that can be taxed. but notice the I.R.S. always tells you to round off to the nearest dolar, the reason. section 10 of the constitution states the coin can’t be taxes for it is made of a metal – and it can’t be taxed. The United States is dept free in metal, it is only lying to “We The People” that their is a “dept” there is only a “Federal Reserve Dept” not a “Gold standard dept”
If you want to fix our nation. we must fight to vote back the gold standard, and get rid of Roosevelt’s wrong doings.
Interesting comments. I think the more insidious thing was the withholding from our paychecks to pay it. The first year they paid nothing, and then, by withholding, the amount that you end up paying is hidden from the people. If every year you had to come up with the money on April 15, there’d be more of an outcry about government spending.
I do agree, though, we were better with the gold standard.
Thanks for the comments.