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Sunday
Sep262010

The Fair Tax

Nobody likes taxes. Libertarians REALLY don't like taxes.

The people of this country are terribly, horribly overtaxed. It is a testament to the strength of our economy that we have been able to grow and prosper as a nation in spite of the overwhelming burden of taxation under which we must operate.

Especially upsetting is the fact that a large portion of our Federal expenditures are for things which the Constitution does not authorize.

I believe strongly that we must drastically curtail government spending, return the Federal government to the duties that it was originally intended to perform, and use these savings to bring the tax burden of the people down to acceptable levels.

Having said that, it is not only the AMOUNT of taxation, but also the METHODS of taxation that are currently used which exacerbate the problem.

Our income tax code is a complete nightmare. What American taxpayer can claim to understand our current tax code ? All that we can say with confidence is that no matter what we attempt to do, whether it's to run a business, to work hard, save, or invest, the IRS will be there to take their share...and a hefty share at that. The harder we work, the more we save, the more we invest, the more that they take. This is insanity. We cannot penalize and discourage the very behaviours and activities that make our country stronger and cause our economy to grow.

Worse, in order to properly collect the tax, the Federal government claims the right to know every detail of your private life. Your bank records, payroll records, all of your private information, are subject to their inspection.

Businesses are forced to spend a large amount of their effort collecting information to properly report their taxes, and often make business decisions SOLELY based on their taxation impact, as opposed to what is best for their business, and their customers.

The prices of all the products we buy are MUCH higher than they would be in an environment free from this taxation burden.

The Fair Tax solves all of these problems.

Savings, Income and Investments of individual taxpayers will not be taxed at all. People will be free to work as hard as they can, save us much as they want, and to invest freely, all without tax consequences. No longer will the Federal government have any need to know the intimate details of their financial condition.

Businesses will be able to make decisions with the proper motivations, ignoring tax consequences, since there would BE NO tax consequences.

I believe the positive impact this would have on our prosperity, our freedoms and the health of the economy would be astounding.

For these reasons, and many others, I am a strong Fair Tax supporter. I encourage you to visit http://www.fairtax.org to learn more about it.

There are those who say that it  will be impossible to get such legislation passed. If we continue to send the same type of politicians to DC this is indeed the case. However if we send Fair Tax supporters to DC in sufficient numbers, then its eventual passage is guaranteed.

No income tax, no IRS....sounds like a dream. Let's make it a reality.