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Posts Tagged ‘fair tax’

7 Reasons I Support the Fair Tax, and You Should Too

February 9th, 2010

1. The Fair Tax Gets Rid of the Hidden Costs in Goods
What do I mean by this? Right now all of the things you buy have a lot of markup to cover the cost of taxes on businesses. Businesses have to pay social security taxes for every employee along with high corporate taxes on profits. If you take these away competition will bring the price of everything down significantly.

2. The Fair Tax Will Bring Businesses to America Which Means JOBS
Right now the current tax code is decidedly against businesses. The Fair Tax would lower the cost of doing business dramatically, and that means we could compete on a global scale. We can actually export goods on an even footing again. That means manufacturing jobs would come back lowering our unemployment.

3. The Fair Tax Gets Rid of Our Current Tax Code

Enough said.

4. The Fair Tax Would Tax Drug Dealers and Other Illegal Income
Needless to say they are not paying income taxes but they do buy things in our country. A fair tax would broaden the tax base to include these criminals as well as the millions of illegal immigrants in our country.

5. Did I Mention Getting Rid of the Tax Code?
It is several volumes long and the loopholes are huge. People making almost nothing pay a similar tax rate to millionaires in some cases because of our complicated code. Special interest groups have put so many ridiculous things into our income tax system it is ridiculous.

6. Stop Taxing Investments, Create More Jobs
A fair tax would stop taxes on capital gains and other investment income. This would create an environment where people want to invest in businesses. This creates even more jobs.

7. The Fair Tax Lets You Take Home Your Whole Paycheck
We will have more jobs and everyone gets to take home their whole paycheck. Wouldn’t it be nice to have your whole check to spend on whatever you want? Wouldn’t it be nice to be able to save and invest as much as want?

These are just a few reasons that the fair tax makes sense. If you are interested in learning more check out my article on the fair tax pros and cons, the fair tax website, or The Fair Tax Book by Neal Boortz.

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Author: Derek Clark Categories: General Politics Tags:

10 Pros and Cons of the Fair Tax

January 29th, 2009

The idea behind the fair tax is to eliminate the federal income tax and replace it with a national sales tax. There are some strong opinions on both sides of the fair tax issue so I thought I’d share a few of the pros and cons. It is not a flat tax, though I think that would be more fair than our current system as well.

1. Pro: The fair tax is much easier to understand than the current convoluted tax income tax system. When an entire industry (tax accountants) has been created to understand paying taxes, there is a problem. The picture below is Representative John Linder holding the 132 page Fair Tax Act in contrast to over 60,000 pages of U.S. tax code.
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How The Current Tax Code Harms The Lower Class

January 25th, 2009

It’s that time of the year again. The time of year where all of our hearts can be warmed by the knowledge that some of our hard earned dollars must be sacrificed to support the people who spend absurd amounts of that money on everything from lavish lavatories to bailouts for industries that are mismanaged and under performing. Thats right, it’s Tax Season!

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