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The FairTax
Posted by Duncan on August 9th, 2008
I just finished reading Neal Boortz’s book, The FairTax. And I do believe that the plan Boortz lays out is quite possibly the best tax plan we can come up with. Ofcourse, it isn’t “progressive” enough for those who believe the Communist Manifesto holds all the truths needed for this world. But for those who remember our Founding Fathers and the liberty they fought for, it is all the more relevant.
What is the FairTax plan?
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 1025) 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 IRSWe offer a library of information throughout this Web site about the features and benefits of the FairTax plan. Please explore!
I would highly recommend all who believe that our current system of taxation is broken to go and look at this plan. I’m thinking I am going to get behind this and push it towards my Congressmen and Senators. Here is also a link to Boortz’s book should you choose to read more about it (most of the information is at the Fairtax.org website, but Boortz does a great job of explaining and presenting it in his book.)
I don’t know about you guys, but I’d like to get the federal government out of my pocketbook…
August 9th, 2008 at 8:45 pm
I read that book a couple months ago, Duncan, and was VERY impressed with its simplicity and clarity. The trigger was the fact that this was the first year in a long time (er, um, EVER) that I’d done our taxes vs. sending all the documents to the CPA – and I was ***SHOCKED*** by the amount already taken by withholding.
I definitely agree with the book’s statement that withholding is a wonderful scam for the government… Fair tax really seems reasonable, especially when comparing it to the loophole-ridden mess that is our current tax code.
August 9th, 2008 at 9:32 pm
I read the book as well and 100 percent support this. In fact, I have donated to the cause to spread the word. Folks can place this on their blogs:
August 9th, 2008 at 11:48 pm
And don’t forget the follow-up book” “FairTax: The Truth: Answering the Critics”
August 10th, 2008 at 7:46 am
The chances of any policy changes being enacted can be estimated by considering who will gain and who will lose.
August 10th, 2008 at 8:01 am
Many Americans are thinking tht marxism or communism will be a way for the distribution of wealth. What they fail to read from history, Marism is also the way to lost liberty and Freedom.
The alternative to communism is the Fair Tax. This tax plan will strengthen our Liberty adn Freedom and at the same time equally distribute the wealth of the nation by indirect application, something the Founding Fathers insisted on and to which the 1913 income tax destroys. The silencing of the majoritys’ freedom of speech is done by tax law.
August 10th, 2008 at 9:46 am
R. George,
The problem is that the majority of American people, the part of the 2/3s of Americans eligible to vote but don’t exercise the opportunity, and the 1/6 who vote Democrat, are more than happy to hand over their freedoms and liberties in exchange for government promise of equality of outcomes (as opposed to equality of opportunity). They don’t understand that the government directed outcome won’t be the utopia promised. I fear the founders like Thomas Jefferson were correct, indeed we shook off the chains of a monarchy, and eventually, we accepted the stifling bearhug, which will soon be followed with chains of its own, of our own federal government. When Barack Obama says that we need change in Washington, he is more right than any of us think, it is just not the sharp left turn towards Marx and Engels we’re looking for.
August 10th, 2008 at 9:53 am
Raven, where’d you get that Fair Tax widget? I’m not finding it on theiir site (obviously, I’m looking in the wrong place…) :roll:
August 10th, 2008 at 10:35 am
Right here Kat:
http://www.fairtax.org/site/PageServer?pagename=widgets
LOL I bumped into this while checking out the site.
August 10th, 2008 at 10:40 am
You know what gets me? LOL??
The silence from Bunny and his/her friends Hectorlecter and JonClaude.
It actually figures. The liberals are too stupid to have a say on the Fair Tax idea.
:hmm:
August 10th, 2008 at 10:42 am
I know a lot of people who claim they would GLADLY pay more taxes in order to see social justice.
Really…people who are liberal, who want “free” health care for themselves and everyone else…who want all the freebies a society ***should*** provide to it’s citizens. These people have no quarms with handing over half their income to the welfare and benefit of all.
They’re nuts. Crazy. And Democrat. :roll:
August 10th, 2008 at 12:55 pm
Thank you, dearheart!
{{{{{HUGZ}}}}}
August 10th, 2008 at 1:00 pm
Oh, and Raven – re: those who say they’d pay more taxes… Doesn’t MASSachusetts have that option? And it’s been a miserable failure, too *snicker*
NO ONE really wants to give their money to the government. Even those of us who see a limited need for it – to maintain the military, for example – want to give as little as possible. What money the government gets from us, we want to be spent frugally and wisely, without contributing to social justice/pork/corruption/waste…
The libs simply don’t have the intestinal fortitude to submit themselves to the rules they’d impose on everyone else.
August 10th, 2008 at 1:24 pm
Raven, The Fair Tax replaces all taxes collected by the Federal Gov. The increase of taxes collected will be form those who are under the table income and from those who have hidden their profits off shore.
The Fair Tax wil remove the excise tax we puton our own produciton to compete with imports in selling to our own nation. T say the least, we have dupped oursleves ever since 1913.
The Fair Tax will also remov ethe gag that the Tax code has on the people through threats of taxation on non-profits.
As to reducing spending of the Federal Government, we must instill the Law calle dthe Constitution which has very limited power given to Washington for spending. Is it too late too reign in the Federal Government? Not if we Americans take our duty of voting seriously.
After the energy crisis is resolved, let’s make the Fair Tax the cure all to most other ills.