Topic > Go Fairtax - 1373

GO FAIRTAXThe idea of ​​tax reform is nothing new. We've heard about raising current income tax rates, Steve Forbes talked about the flat tax during a presidential complaint several years ago, and there have been other various types of tax reform. There is a newer idea that is gaining popularity across the country called FairTax. Many believe that FairTax was the original idea of ​​radio talk show host Neal Boortz, but that is not accurate. Although he and Georgia Congressman John Linder wrote two books about FairTax, the idea came from two Texas businessmen in the 1990s. Boortz just popularized it. Many people do not believe that this new form of taxation will benefit the United States, and others believe that if Congress signs it into law, FairTax will undoubtedly reinvigorate the flagging economy. I am part of the latter of the two groups. At this point you may be wondering "What is this FairTax?". Simply put, FairTax is a plan that replaces all federal income- and payroll-based taxes with a new approach that includes a progressive national sales tax, something like a rebate that happens at the beginning of the month called a prebate (more on that later), repeal of the 16th Amendment and federal neutrality towards corporations and businesses. At its core, FairTax is nonpartisan partisan legislation, which means both Democrats and Republicans are working to make this happen. The bill previously introduced in Congress was HR 25 for the House of Representatives and S 296 for the Senate. It abolishes all personal and corporate income taxes, gift taxes, estate taxes, Social Security, Medicare and many other taxes, and replaces an easy and transparent federal retail sales tax that would... . half of paper... ic or complacent and didn't want to have this big change. Those who wanted freedom were our founding fathers. Leaders such as General George Washington and statesmen Thomas Jefferson formed a grassroots effort. The idea of ​​independence grew. So we know the end of that story. FairTax advocates use this as a metaphor for their efforts. It will happen one day, let's just hope it happens in our lifetime. I just highlighted some advantages of FairTax. Our current tax code is 64,000 pages and HR 25 is 133. The current tax code punishes success and prosperity, and FairTax rewards these things. The FairTax would bring in foreign business by eliminating all taxes on businesses. Our current tax system drives foreign businesses away. All we can hope for is that one day this new tax system will reinvigorate the United States of America.