Wednesday, August 30, 2006

It contains more than 55,000 pages …

It is so complex that even those who wrote it don’t fully understand it.

The “it” is the federal tax code, and more and more Americans are demanding that the time has come to abolish the IRS in favor of a “Fair Tax” system.

Simply stated the Fair Tax is a 23 percent consumption tax on new purchases. Unlike the current system that siphons off $23 from every $100 earned, the Fair Tax moves the tax burden from the workforce to the consumer—giving them control over how much they are taxed.

The Fair Tax system would eliminate the IRS and replace every current federal tax—personal income tax, business income tax, the death tax, the investment tax and Social Security/FICA taxes included with a simple, Fair Tax. In other words, you would keep 100 percent of your paycheck and then pay ONE tax, the Fair Tax. Your income, savings and investments would never be taxed. And Congress would never again be able to hide tax increases in a convoluted system and manipulate the tax code for political gain.

And the best part? The Fair Tax would completely fund the federal government, Social Security and Medicare!

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