There is a better way; it’s call the Fair Tax. Now, before you jump to conclusions about how it’ll add 23 percent to everything you buy – according to some political ads, intended to scare you to vote against anyone who supports it – have an open mind to the truth. If you have a computer, go to www.fairtax.org.
What do April 17 (this year’s tax filing deadline) and the Fair Tax have in common? Nothing. Under the Fair Tax, April 17 is just another spring day. No one will be burdened with filling out all those forms, hoping to get them right and not get audited.
Do you really know how much money you make? Most workers think they make what they take home, not relating all the withholding dollars taken by the employer and forwarded to the government to redistribute as they want. How would you like to take home all that you make? Under the Fair Tax, you would. Even your employers’ matched amount would stop, and the workers just might make more than before.
But – according to U.S. Rep. John Barrow – the Fair Tax will drive up the cost of everything I buy by 30 percent. He did say that, along with many other politicians who do not understand the plan. The Fair Tax would replace, not add to, the embedded taxes you are now paying that are included in all products and some services. This is estimated to be about 23 percent, not the 30 percent in Barrow’s campaign ad with fuzzy math.
Many don’t pay taxes now, but they would under the Fair Tax. Everyone is paying some tax when they make a purchase at retail. The last time you filled up your car with gas, do you know how much tax you paid? What about a gallon of milk? There are embedded taxes in everything you buy, then sales tax is added. The Fair Tax would replace those, and the final cost would be about the same. Everyone would pay something, even those who deal in cash, under the table or just don’t report it.
Many American businesses have left our country because of the complicated tax code. When questioned, most said they would return to America if the Fair Tax is implemented. Even foreign companies have expressed higher interest in locating here. Think about the employment opportunities that would open up and bring manufacturing dollars.
We need tax reform. A flat tax still will have a tax code, laws, loopholes and forms to fill out and file. The Fair Tax is really the only fair way.