Our President has said it in the State of the Union speech, “So tonight, I’m asking Democrats and Republicans to simplify the system. “ Let’s take him at his word. What could be more simple than the “Fair Tax” that collects a revenue neutral tax on our spending instead of on our working income or our investing income. If you earn a $1,000.00 your paycheck is for a $1,000.00, no more withholding for income tax. (No more IRS.)
No more withholding for Social Security retirement, (No more FICA deductions.) no more complicated tax forms, no more hiring tax accountants, no more hiring tax Attorneys. And no more wondering if you are contributing to a charitable organization because you want to help their cause or because you want a tax deduction.
Our President said, “Get rid of the loopholes. Level the playing field.” With the “Fair Tax” there are no loopholes, and as for a level playing field the “Fair Tax” would, for the first time, collect taxes from the “Criminal Class”, pimps, bank robbers and illegal aliens.
Our President said, “…lower the corporate tax rate...” Someone needs to tell the President that the “Fair Tax” would (without loosing any income for government spending” completely eliminate the Corporate income tax. This could make it financially viable to keep factories here at home instead of shipping them South Bago Bago.
Our President talked a lot about “investing”. What he was really talking about was spending. But he used the word “investing” because he knows, that you know “investing is good”. The “Fair Tax” would eliminate the Capital Gains Tax. This would invite more people into the investor class, and American Companies would have the working capital for development, innovation and expansion. More jobs for everyone.
All-in-all the “Fair Tax” is a win-win, win-win, win-win, did I say win-win situation. Find out more at fairtax.org.