Friday, August 21, 2009

Fair Taxes, Please

I believe the Fair Tax should be actively explored by our elected officials as an alternative to the Federal income tax.

The positive aspects of adopting such plan would truly be fair, allowing people to control the amount of taxes they pay, and increasing family's disposable income. With all Federal income taxes repealed, including such taxes as estate, gift, and capital gains taxes, the IRS would be rendered useless, and the cost of such operation would be dramatically reduced from its current $12 billion dollar budget. By creating a Fair Tax, you also give people responsibility and a voice. The poor and middle class can exercise their spending wisely to reduce their own taxes and if their is a possible dissatisfaction with the government, people can help shape public policy by reducing consumption, and in essence, reducing the taxes. The creation of such a system would also eliminate loop holes, that are typically exploited by the wealthy. Having such a tax could also help the government collect greater taxes from illegal aliens and foreign travelers.

Unfortunately, the negative aspects are daunting to elected officials, with the high percentage rate typically scaring off the weakhearted. It appears to me through reading on the subject that the pros outweigh the cons. Unfortunately, I don't see such a tax being passed anytime soon, but one can hope.

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