There is a way to get rid of the IRS and not ever have to file another 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 it a reality! There is a tax bill before Congress right now that would get rid of the IRS and get rid of income taxes, corporate taxes, death taxes, estate taxes, etc.
It's called the FairTax Act and I am here to tell you it is not only fair, it would without a doubt solve our country's economic woes overnight.
I want to start by saying that The FairTax is resisted by a vocal minority precisely because it will do what it promises in abolishing the IRS, the greater than $300 billion in tax return filing costs, and the corruption of our current system.
Here's a brief overview of what it is all about.
What kind of tax is the FairTax? The FairTax is a consumption tax that is paid when you buy something new.
It is a transparent tax: it means that the tax will be printed on your sales receipt in plain view so you can see it.
Right now you are paying those taxes when you buy something, but they are hidden in the cost of the item by all of the goods and services that go into making that item from raw materials to packaged product.
These are called embedded taxes because they are hidden from your view.
Under the FairTax Act, you would be paying the exact same price for a loaf of bread, but the loaf would have a lower shelf price and the tax would be added at the cash register and printed on your receipt.
Is the FairTax really fair? Absolutely.
The FairTax is very fair.
In fact, it is really much more fair than the current income tax.
You can control exactly how much tax you pay simply by deciding which things you are going to buy.
The rich buy more expensive items that other individuals.
The FairTax will tax them on those purchases.
Tourists and illegal aliens, who currently pay no taxes, would pay their fair share of taxes every time they buy something.
Anyone who gets cash income and doesn't report it on their income tax return would now pay taxes on their income when they spend it at the cash register.
And yes, our 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 on America's economy.
With the penalty for working harder and producing more removed, American businesses will experience a new wave of expansion and economic growth.
Hidden taxes disappear, U.
S.
citizens can save more, and businesses invest more.
As proposed, the FairTax would bring American companies back home as it would not be an advantage to have U.
S.
companies in overseas countries paying low wages to workers for jobs that Americans should be doing here at home for a fair wage.
Workers would bring home all that they earn.
It will put more money in the pockets of every American by removing 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.
Companies would no longer be weighed down with paying additional taxes on their employees wages for Social Security/Medicare.
The FairTax has a positive effect on Social Security/Medicare.
Under the FairTax Act there would be plenty of money available for both these programs.
Like the rest of the federal spending programs, Social Security would run just like it does today, except that its funding would come from a consumption tax, rather than a payroll tax.
Companies that employ workers would continue to report the wages they pay to each employee to the Social Security Administration simply for the calculation of benefits.
The move to a reformed Social Security system would be eased while ensuring there is enough money to continue paying promised benefits.
The FairTax protects low-income and lower-middle-income individuals and families.
Under the FairTax Plan, people near poverty level pay zero net FairTax up to the poverty level! Every citizen or household receives a prebate check each month that is equal to the FairTax paid on crucial goods and services [groceries and medicine], and all wage earners are no longer subjected to the most oppressive tax of all, payroll taxes.
The FairTax takes care of senior citizens.
Seniors do very well under the FairTax.
Low-income seniors get better benefits under the FairTax than underour current income tax system.
There are some who mistakenly believe that those who live only on Social Security pay no taxes.
They may not know it, but they are paying hidden corporate income taxes and employer payroll taxes when they buy anything.
With the FairTax, seniors pay $0.
23 out of every dollar they choose to spend on new products.
Plus, seniors, like everyone else, will receive the monthly prebate check, in advance of purchases, for taxes paid on the cost of necessities.
Yes, The FairTax CAN become 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 rally 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.
What you can do RIGHT NOW to ensure 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.
While you are on the website, look at the congressional scorecard to find out whether your state congressional representatives support this bill.
If they are not a supporter or co-sponsor, write 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 pass it on to a friend to read and ask them to pass it on, too.