The Soap Box
A place to sound off about the things I want to sound off on!
Fair Tax
There is a bill currently being discussed in Congress that would do away with the IRS and replace federal withholding tax with a national sales tax. The tax would be about 23 percent and after a short evening out period, economist have concluded that the amount of embedded tax in all the goods and services we currently consume would be lowered by roughly that same amount so the tax vs withholding would be pretty much a wash, but every bit of money earned via any means would not be taxable. This means no more death tax, no capital gains, the only time anyone would pay any tax is when they purchased a new product, not a used product of any sort. Another plus to this is tourist that come to visit would help to support our national debt, something that they currently do not do now when the come spend money in the US. There is much more information if you are interested in this that can be found at:
I have been aware of the Fair Tax for some time now, and have done some reading For what it is worth it sounds like a pretty good solution for those things that fiscally ail our country! The reason I am taking this time to say something about this is because the house bill HR-25 is gaining momentum. Issues like this have a sort of critical mass that they need to reach to get passed. That critical mass or inertia, happens when I mention it here, then you mention it at dinner with friends or family, and on it goes untill our politicians actually hear about it from their barbers! This will become an important issue if you help make it one, and trust me this would be huge for this country. If this got passed the best analogy I can think of to describe our economic growth is, that it would be like trying to blow out a gasoline fire with pure oxygen!