I have commented on the Fair Tax before, but with mid-term elections coming up, it's worth mentioning again.
We hear about tax cuts here and spending cuts there, and our representatives honestly believe those two items are going to help. It may help, but it won't help enough to assure our children, and maybe even grandchildren, a rewarding economic future.
I think it is evident to most people that the present tax system is counterproductive to economic success. Billions of dollars are spent by the wealthy and by corporations to minimize taxes owed. Billions more are spent by individuals to have their tax returns prepared. The obvious solution to America's economic problems is the Fair Tax.
Yes the rate of the Fair Tax is 23 percent, but there is at least a rate of 22 percent in taxes already embedded in the cost of nearly everything we buy at the retail level. So the Fair Tax merely replaces these embedded taxes.
Imagine no income taxes to pay; no payroll taxes; no Social Security or Medicare tax; and no corporate income taxes, either. With a consumption tax, everybody who buys something at the retail level contributes. That means 300 million people in America will be contributing, plus anyone who visits us as a tourist.
Read Neal Boortz's and John Linder's books The Fair Tax Book and the sequel The Fair Tax Book -- Answering the Critics. After reading these books, contact your representatives to find out if they support the Fair Tax. Their answer should be a resounding "yes," because the Fair Tax is the only way out of the economic mess America is in.