Sunday, February 8, 2009

10 Things I would do if I were President: #1 Repealing the 16th Amendment to the Constitution and instilling the Fair Tax as our new tax system

In 2006 the IRS tax code measured 44,000 pages. Some estimates say it costs $200 Billion a year for Americans to comply with our current tax codes and some 40% of all American's do not even pay taxes. Making matters worse, our current tax codes punishes the producers and money makers of our society and rewards those who live on the fringes and sponge off of society-obviously this system isn't working and needs to be fixed...Over the years several ideas have been put forth to fix our tax system: from the seemingly simple flat tax to just simplifying our current tax codes, but none have really taken root with American citizen's or our Congress-except for one: the Fair Tax. In a nutshell, the Fair tax is a consumption tax that would be levied at the point of sale for all goods and services. According to the bill submitted before Congress in 2007, the Fair tax would be assessed at 23% on all goods and services at the time of sale or receipt. There are way to many details to go into and I wouldn't be able to give this great idea justice, so for more information I strongly recommend everyone who reads this to visit www.fairtax.org. The Fair Tax would not raise the price of goods or services and would provide 100% accountability within our Federal Government as to how they spend our money. Why? Because discerning exactly how much money the Fed has to spend would be very easy for any American to do and should they over spend or misallocate funds (as they so easily can do now) it would be very easy to see where and how they did so and correct the problem before it gets out of hand. Why do we have to repeal the 16th Amendment to do this? Because the 16th Amendment is what created the IRS and allows for our current tax code, so simply replacing the IRS with the Fair Tax would not be enough to permanently install the Fair Tax as our new tax code...What would having the Fair Tax mean to individual Americans? It would mean that we would all keep 100% of our paychecks. It would mean no more Capital Gains taxes or taxes on investing or saving our money. And, it would mean not having to waste potentially thousands of dollars a year doing, and paying, your 'taxes'. If this all sounds too good to be true, again, I encourage everyone to go to www.fairtax.org. The idea is simple and revolutionary and it would permanently stabilize our economy and prevent economic disasters like the one we are facing now. Needless to say, The Fairtax would be top of any Presidential campaign platform I would run on.

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