Say Goodbye to the IRS and the Income Tax
Here is a surefire way to get rid of the IRS and never be required to file another personal income tax return; or corporate return for that matter! Every dime you earn would be in your paycheck; no taxes withheld. It is within your power to make this happen!
Congress is reviewing a bill right now that would eliminate the IRS and eliminate corporate taxes, personal income taxes, estate taxes, the death tax, etc. It's known as the FairTax Act and I am here to tell you not only is it fair, it would without a doubt solve our country's economic problems overnight. First I do want to say that The FairTax is resisted by a vocal minority exactly because it will do what it promises in getting rid of the IRS, the more than $300 billion in tax return filing costs, and the blatant corruption of the current tax system. Here's a brief overview of what it is all about.
What kind of tax is the FairTax?
The FairTax is a retail consumption tax that is charged when you purchase something new. It is a transparent tax: that means the tax will be printed on your sales receipt in plain English so you can see it.
Currently you are paying the same taxes when you purchase something, but they are buried in the cost of the item all along the manufacturing line from the raw materials to the packaged end product. Those are called embedded taxes because they are hidden from your view. Under the FairTax Act, you would be paying the same price for a gallon of milk, but the gallon would have a lower shelf price and the tax would be printed on your receipt when it is added at the cash register.
Is the FairTax actually fair?
Yes, the FairTax is fair. In fact, it is really much more fair than the income tax. You get to control how much tax you pay simply by deciding what things you are going to purchase. The rich buy more expensive items that other individuals. The FairTax taxes them on these purchases.
Illegal aliens and tourists, who pay no taxes now, would be paying their fair share every time they purchase something. Someone who gets cash income and doesn't report it on an income tax return would have to pay the consumption tax on that income when they spend it at the cash register. Yes, the government would still get as much tax revenue as they do now, but the cost of running the government would be a lot less.
The FairTax would have a positive effect onAmerica's economy.
By removing the tax penalty for working harder and producing more income, American companies will experience a new wave of economic growth and business expansion. Hidden taxes are history, Americans are able to save more, and companies invest more. As proposed, the FairTax would bring U.S. companies back home as it would not be an advantage to have U.S. companies in overseas countries hiring workers for low wages to do jobs that Americans should be doing here at home for a fair wage.
Workers would bring home exactlywhat they earn.
It would put more money in the pockets of every U.S. citizen by eliminating the income tax. There would be no deductions from what you earn to pay federal taxes, Social Security or Medicare. If you earned $100 you would get paid $100. Businesses would no longer be burdened with paying added taxes on their employees wages for Social Security/Medicare.
The FairTax has a positive effect on Social Security/Medicare.
There would be plenty of money available for both these programs under the FairTax. Like the rest of the federal spending programs, Social Security would run exactly as it does today, with the exception that its funds would come from a consumption tax, instead of a payroll tax.
Employers would continue to send in reports of the wages they pay to each employee to the Social Security Administration simply for the determination of benefits. The transition to a reformed Social Security system would be eased while ensuring there is enough money to continue promised benefits.
The FairTax protects low-income and lower-middle-income individuals and families.
in the FairTax Plan, poor people pay zero net FairTax up to the poverty level! Every citizen or household receives a monthly prebate check equal to the FairTax paid on essential goods and services [groceries and medicine], and all wage earners are no longer subject to the most oppressive tax of all, the payroll tax.
The FairTax protects senior citizens.
Seniors do very well under the FairTax. Low-income seniors get better benefits under the FairTax than underthe current income tax system. There are some who mistakenly believe that those who live exclusively on Social Security pay no taxes. They may not know it, but they are paying hidden corporate income taxes and employer payroll taxes whenever they purchase something. Under the FairTax, seniors pay $0.23 out of every dollar they choose to spend on new items. In addition, seniors, like everyone else, will receive the monthly prebate check, in advance of making the purchases, for taxes paid on the cost of necessities.
Yes, The FairTax CAN really be passed into law! The FairTax has taken it upon itself to build a grassroots movement and grassroots alliances to support the effort. But, this will only happen when the American people unite behind the effort, throw off the chains of income tax bondage, and demand that their congressional representatives correct 90 years of wrongs done by the income tax.
Do this RIGHT NOW to make sure this bill gets passed.
First, sign the FairTax on-line petition at the FairTax.org website to let Congress and the President know that you want this bill passed into law. When visiting the FairTax website, look at the congressional scorecard to see if your state congressional representatives support this bill. If they are not a supporter or co-sponsor, send them a letter and demand they vote for this bill and that you will be monitoring this scorecard to see how they stand come election time.
Second, read The FairTax Book: Saying Goodbye to the Income Tax and the IRS by Neal Boortz and Congressman John Linder. You need to understand what this bill actually says. The book is not difficult to understand. Then give it to a friend to read and ask them to pass it on, too.
Sandra Simmons, President of Money Management Solutions, has years of experience helping professionals and families manage their income to achieve their financial golas. To find out about the Money Management Software she created, watch the FREE 5-minute demo video on her website at www.MoneyMgmtSolutions.com
Published April 15th, 2008