The FairTax. A Declaration (464 hits)
Category: NoneRating: -0.33 on 4 reviews (Rate this item) (V)
Submitted by Kurbs <staggman.at.gmail.com> (View user info) at 2005-09-13 20:36:15 EDT
My history/english class (theyre rolled into one...2 teachers on class) asked us to write a declaration about something we cared about, based on the declaration of independence.
i decided to throw it on here, as it is a really cool topic, you should look into it.
any comments/advice is appreciated
ps... sorry about the paragraphing, i cant write an english paper in online form
We, the hard-working taxpayers of America have decided to abolish the more than 22,000 pages of tax law, and replace it with one-- The FairTax.
The tax laws we currently have in existence are unfair. The government decides how we spend a large portion of our paycheck. The income tax drives away jobs, because not only is there a 7.65% tax on every individual paycheck, but companies need to match that payment as well. This drives jobs out of our country to places where it doesn't cost employers an additional almost 8% on every paycheck. This taxing of our employers also leads to domestic companies being more restricted in their hiring. It also raises costs of goods and services, making foreign goods less expensive, and therefore more competitive. Current tax law raises the prices of domestic goods by a staggering 20% because of hidden taxes in the production of the goods. The current tax law is also extremely confusing to the average citizen. The IRS admits to a 25% non-compliance with the existing code. We are making federal criminals out of everyday citizens. Americans lose about 25.5% of their income to the federal government, with an average of 18% federal income tax, along with the 17.65% taken out for social security and Medicare. That means Americans pay 25.5% of their paycheck directly to the federal government, with no discretion on how or why that money would be used otherwise.
We've tried for decades to make our tax system fair, but all that does is add more pages to the books, making the laws harder to understand. Everyone dreads April 15th, and no one likes that big chunk taken out of their paycheck every single week. There is constant debate over whether tax laws are fair, whether they benefit the rich, the poor, or spread the gap between them.
We propose to rather instate a nationwide consumption tax of 23%. This one tax will replace all of the 22,000 pages of tax law we currently have. Instead of removing money from your paycheck, and going through a long stressful January of figuring out taxes, you simply pay 23% on every purchase of goods or services. Used goods are not taxed, and all valid social security card holders get a rebate on necessities. This works very simply, monthly, and annually, families will get back any sales tax paid on poverty level expenditures, also known as essential goods and services, as determined by the Department of Health and Human Services. Businesses and industry will return to the United States, because they are no longer taxed on paying their employees, only on this consumption tax. For example, a single person has to spend $9,570 a year on essential goods. That single person would get a check of $183 monthly from the government, as well as a $2,201 check annually. The FairTax is named very aptly. It taxes people based on how they choose to spend the money they earn, rather than taxing them on the money earned. For example, the wealthy buy enormous houses, fancy cars, and big boats. They get prime rib instead of hamburger, caviar instead of fish sticks. The FairTax taxes them on these purchases. If, however, they use their money to build factories or businesses that create jobs, or use it to fund charitable organizations, both of which benefit society and our economy, these purchases would not be taxed. This law also abolishes the 16th amendment, as it would be unnecessary.
No one likes any taxes, but at least with the fair tax you control what you pay in taxes based on what you spend in your life. This is America, the land of freedom and choices. We need to be able to decide how to spend all of our paycheck, and to understand how and why we are being taxed, without having to worry about being a federal criminal by filling out forms wrong.
User Reviews
Submitted by williamson (user info) at 2005-09-14 07:07:21 EDT (#)
Ranking: -2
I've heard of this before. Unfortunately.
Submitted by vettesrule88 (user info) at 2005-09-13 21:10:25 EDT (#)
Ranking: 0
indeed, it must have problems, nothing is so simple...the law itself isnt all that simple, thats just the explanation
see www.fairtax.org for details
im not pretending to be a know-all-end-all, i only heard of this this weekend, but its been on my mind so i wrote the paper on it
Submitted by Bubba2341 (user info) at 2005-09-13 21:06:17 EDT (#)
Ranking: 0
This oughta start some major shit.
Submitted by morontian (user info) at 2005-09-13 21:06:09 EDT (#)
Ranking: 1
I'm no financial genius (as a matter of fact, I'll be pleased if I spelled financial correctly) but there has got to be about 1.263 million problems with something that simple. Or maybe not.
*shrugs*