2010-02-06
Top 10 Reasons to Support the Fair Tax
There is an almost never ending list of reasons to support the Fair Tax, but I’m convinced that this 10 is enough to sway those that are on the fence. This list, which is a variation of a list that pushed me over the edge and convinced me, is found in the book “FairTax: The Truth”, by Neal Boortz and Congressman John Linder.
1. No Capital Gains Tax. Those the feverishly oppose the Fair Tax will tell you that this just makes the rich richer, and yes, it does. You know who else it makes richer? EVERYBODY ELSE. What this really is is a tax on capitalism. With no capital gains tax, everybody will be free to invest in whatever they choose with out worrying about being double taxed. Having a capital gains tax at all is a determent on real “progress”.
2. No Death Tax. The fact that there is a tax even after you DIE brings new meaning to the phrase “Nothing is certain in life but death and taxes.” The death tax was the most ridiculous idea ever conceived. Why shouldn’t I be able to leave ALL of my wordly possesions to my son and wife? All the death tax is is a cheap trick to bring in some extra revenue, and it is unfair.
3. No Keeping Records of Financial Transactions. Hell, I don’t do that now, and I’m probably screwing myself out of a whollllle lot of money. Those pesky receipts are washed and lost and chewed up (between a dog and a baby, EVERYTHING gets chewed up) and are NEVER around when tax time comes around.
4. No More Filling Out Tax Forms. The amount of time that is spent by every family in the US just to comply with the tax code is ridiculous. The only other option (which I have to admit is what I do) is to forfeit a huge chunk of my tax check in order to have somebody else do my taxes (yes, I’m lazy, leave me alone). Eliminating this waste of time would not only free me up to do other things, but would give me an opportunity to spend my money and stimulate the economy because, let’s face it, we all like to buy useless crap.
5. Will Help Keep US Jobs IN The US. I actually wrote out a huge piece specifically about this, see a couple blog posts down on the INFairTax site to see it.
6. No More Penalties For Messing Up On Your Taxes. No tax forms to fill out, no more bogus mistakes that continually hit your wallet. Let me tell you all a little story about a friend of mine that I work with and the number of times that his home state, the state of Michigan, has contacted him with new “mistakes”, claiming that he owes more money. Between him and his wife, they make around 200 grand. His salary is around 60 grand. ALL of his salary plus a good chunk of his wifes goes towards taxes. Just something to think about.
7. The Government Will No Longer Have Access To Your Financial History. Why should they, after all? What business is it of the governments to have that kind of information that is reserved for my wife and I?
8. No More Class Warfare Used In Politics. In case you haven’t noticed, President Obama used class warfar A LOT during his campaign. He continually talked about raising taxes and having “the rich” pay their “fair share”, and he isn’t the only politician guilty of such rhetoric. If the tax system is broken down and replaced, no longer will the “soak the rich” rhetoric be useable, and it will help to keep me from blowing my brains out while watching political debates.
9. Less Lobbyist Influence. Lobbyists are, in my opinion, one of those necessary evils. I know that this is a hotly debated subject, but it’s just how I feel. For example, I’m a big fan of my gun rights, and so I enjoy the political pull that the NRA has in Congress. Sue me. However, if the Fair Tax were to be enacted, I wouldn’t protest to less lobbyist influence because the lessening of influence would be across the political board.
10. America Will Become The New Tax Haven. There is a very good reason that people have Swiss bank accounts: they HAVE paying unfair taxes. No more unfair taxes, no more foreign tax havens. In fact, it would probably be the exact opposite! The US would become the tax haven!
I could have probably made this list go on…and on…and on…but hey, I write a weekly column here! I have to save something for me to write about!
(Cross-posted and originally written for Indiana Fair Tax)
