We need FairTax H.R.25, not an IRS mess.
- ...replaces the IRS with a retail sales tax. The amounts that now come out of our paychecks for Federal tax, Social Security and Medicare will instead be added to our take-home pay.
- ...eliminates the hidden tax that is now included in all that we buy. The prices we pay for retail goods are inflated by 20 - 25 percent just to cover taxes incurred as the goods are produced. That percentage would be eliminated. The 23 percent sales tax will be largely, if not completely, offset.
- ...provides for a check to each taxpayer at the beginning of each month to offset the taxes paid for basic necessities
- ...eliminates tax forms. The 1040 headache will disappear. The IRS will disappear.
- ...broadens the tax base by including all the non-filers and the underground economy. The billions collected from such an expanded tax base will keep the sales tax at a minimum for everyone.
- ...enables the return of an estimated trillion dollars from tax-sheltered offshore accounts into the American economy. That flush of new money will cause a boom in the stock market and in job-creation.
The FairTax, H.R. 25, is just that--fair to all Americans, regardless of income. No one pays federal sales tax on the necessities of life, and a monthly rebate goes to all Americans.
Ignore the scare tactics and rumors. Ask questions and get the facts. I think you, too, will agree. April 15 should be just another spring day.
Commentary by Michael Kwiatkowski