Thursday, April 14, 2011
Taxes
Here we go again. Tax day approaches. Why does America seem to be drifting into the sunset? We are taxed into oblivion. My first thought is why do we have the tax structure we currently have? Well, there are too many hooks into our tax system. The infamous mortgage deduction. If you look at it, it is not much of a deduction. Yeah, yeah it reduces your tax liability. Only if you exceed the standard deduction. Another deduction for the rich. Business deductions. Only if you own a business. Why not use the fair tax. This tax is simple. Simply tax every new sale of goods and services at 23%. Simple. Straight forward. Simple. Everyone receives what they earn. No income tax deduction. Period. You make $60,000 a year, you receive $60,000 a year. Simple. You buy something new, you pay 23%. Period. End of story. If you do not want something new, no tax. ZERO, Nada. Hmmm. I like this. What could be wrong. Nothing. The Chinese send goods over here ---- Taxed 23%. The Koreans send goods over ------ Taxed 23%. There is a prebate to rebate everyone to the level of poverty. Bam! Everyone is on equal footing. No embedded tax. Everytime an item is sold, currently there is an embedded tax whether you like it or not. The guy who loaded your burger into the bag, the guy who cooked it, the guy who swept the lobby, all factored into the burger. This is gone under the fair tax. If you think you pay zero tax, think again. Fairtax.org. Go there. Get involved!!!!!!
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