"Our system of taxation has turned into something completely foreign to our nature - something complicated, unfair, and in a fundamental sense, un-American." - Ronald Reagan
The Case For An Ideal Tax System
To many economists and supporters of freedom, the ideal tax system is one that collects enough money to fund the government with the least negative impact on the economy, productivity and personal freedom.
In An Inquiry into the Nature and Causes of the Wealth of Nations, Adam Smith, the "Father of Economics", advocated the following four tax system requirements:
1.The subject of every State ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the State.
2.The tax each individual is bound to pay ought to be certain, and not arbitrary. The time of payment, the manner of payment, and the quantity to be paid, ought all to be clear and plain to the contributor, and to ever other person.
3.Every tax ought to be levied at the time, or in the manner in which it is most likely to be convenient for the contributor to pay it.
4.Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as little as possible, over and above what it brings into the public treasury of the State.
The FairTax® Plan meets Smith's requirements, plus it:
·Stimulates increased economic growth
·Eliminates the need for subsidizing foreign imports
·Generates desperately needed jobs
·Eliminates federal filing of individual and most business tax returns
·Defunds, disbands and eliminates the IRS
·Minimizes the governments invasion of privacy into every aspect of one's personal and financial life
Additionally, under the FairTax Plan, consumer purchases up to the poverty level are not subject to the FairTax. And, much to the chagrin of politicians and bureaucrats, every time a citizen buys new goods or services, they see the amount of federal tax they paid on their receipt.
Now, every consumer knows exactly how much he or she is contributing to the nation's budget.
Washington's ruling class uses the current income tax system to control the citizenry; masking that control through over 74,000 pages of tax code deductions and "benefits". In short, Congress has designed a system that artfully hides spending from the taxpayers who fund it.
The FairTax will completely end this nonsense. No other proposed tax system provides the transparency needed to expose the real cost of government nor has the overall accountability of the FairTax Plan.
Might this transparency and accountability be why your elected representative or candidate does not support the FairTax? If so, you may want to giver serious consideration as to the kind of individual you believe best represents your interest in Washington.
Steve Hayes practiced law as a tax attorney. He serves on the board of directors of the Florida FairTax Educational Association and chairs the AFFT grassroots governance steering committee.
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Check out that window sign! Dahlonega, GA - home of longtime FairTax leaders Tom Brown and Mike and Marion Warlick - was chosen as a top summer escape by readers of USA TODAY and 10Best.
New Jersey should eliminate the state income personal and corporate taxes, thereby reward success (income), encourage more of it, and subsequently grow the economy along with more revenue potential for the state. New Jersey should then closely implement, at the state level, the Fair Tax.
The idea is to replace income taxes with revenue neutral consumption taxes on new products and services. This tax reform at both the state and federal level would more strongly grow the economy, add new jobs, and thereby provide governments adequate revenue sources. Annual budget deficit woes may then finally become just memories.
- Ted Hruzd
Understanding The FairTax Webinar
With June's Additional Topic: The FairTax vs. The Flat Tax
Why: To provide a LIVE, interactive forum for people who cannot get to local meetings to learn about the FairTax and to present special topics that are frequently misunderstood or not generally discussed.
Who: Join Special Guest Host Paul Livingston, NE Florida District Director, Jacksonville, Florida. We help build the knowledge base of those on the front lines as well as those wanting to know what the FairTax is about.
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-- If everyone knew all there is to know, they would not do half the things they do, including myself, therefore I must foregive them, including myself.