Tuesday, October 13, 2009

Fair Tax Jack or It's Time for real Tax reform


I picked this cartoon up from another blog I am a follower of "Northern Boone County FairTax".

In case you don't know what the Fair Tax is it is plan to replace our current-and horribly broken- income tax law with a national consumption tax. I can almost hear readers saying "I pay too much sales tax now"!

Well my response is typical of many. I wish there were an alternative to taxes but so-far in human history no one has figured out a way to run a government without them. So what can we do to make it as painless, if you will, as possible.

This is where the Fair Tax comes in. The beauty of this form of raising revenue is that-unlike the current system- it does not punish hard work and achievement.

How does our current system punish hard work and achievement? Well it penalizes hourly workers for working hard. People who earn an hourly wage are in effect punished for working overtime by being forced into a higher tax bracket where-if you work too many hours- you can actually end up with less take home pay than working a straight week.

Entrepreneurs, companies, and innovators are penalized by the current system for ,in essence. being successful.

The FairTax ,on the other,hand lets companies, hourly workers,and those who bring innovation to the marketplace to keep all they earn and only pay taxes on what they buy.

Everybody has more money and can therefore better afford consumer goods, or factory expansions, or whatever the case amy be. I could go on all day about the virtue of the Fair Tax but time and life won't allow. That's why I recommend you go to http://www.fairtax.org/ or click on the picture below to learn more.

Post a Comment