Say Goodbye to the IRS and the Income Tax
There is a surefire way to get rid of the IRS and not ever have to file another income tax return; or company tax return for that matter! Every dollar you earn you would get paid; no taxes withheld. It is within your power to make it happen!
Congress is reviewing a bill right now that would get rid of the IRS and get rid of 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 definitely solve our country’s economic problems in short order. First I do want to say that The FairTax is violently 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 insidious corruption of the current system. Here’s a brief overview of what it is all about.
What kind of tax is the FairTax?
It is a retail consumption tax that is paid when you purchase something new. It is a transparent tax: it means that the tax will be on your sales receipt in plain English so you can see it.
Right now you are paying those taxes when you purchase something, but they are hidden 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 exact same price for a gallon of milk, but the gallon would have a lower shelf price and the consumption 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 fairer than the income tax. You get to control how much tax you pay by deciding what items 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 buy something. Someone who deals in cash and never reports it on their income tax return would have to pay taxes on that income at the cash register when they use it to buy something. And yes, the government would still get as much tax revenue as they do now, but it would cost us a lot less to run the government.
The FairTax will have a very positive effect onthe U.S. economy.
With the penalty for working harder and producing more removed, American companies will experience a new wave of economic growth and business expansion. Hidden taxes disappear, Americans are able to save more, and businesses invest more. As proposed, the FairTax would bring U.S. companies back home as it would no longer be an advantage to have American companies in foreign countries hiring workers for low wages to do jobs that Americans should be doing here at home for fair wages.
Workers will bring home all that they earn.
the FairTax will put more money in the pockets of every U.S. citizen by removing the income tax. There will be no withholdings from the amount you earn to pay federal taxes, Social Security or Medicare. If you earned $100 you would get paid $100. Companies would no longer be burdened with paying added taxes on employee 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 operate exactly as it does today, with the exception that its funds will come from a consumption tax, rather than a payroll tax.
Employers would continue to send in reports of the wages they pay to each employee to the Social Security Administration only for the determination of benefits. The move to a reformed Social Security system is eased while ensuring there is sufficient funding to continue paying 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 crucial goods and services [medicine and groceries], and every wage earner is no longer subjected to the most burdensome tax of all, the payroll tax.
The FairTax protects senior citizens.
The fFairTax does a good job of protecting senior citizens. 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 only on Social Security don’t have to pay any taxes. They may not know it, but they are paying hidden corporate income taxes and employer payroll taxes when they purchase something. With the FairTax, seniors pay $0.23 out of every dollar they choose to spend on new items. Plus, seniors, like everyone else, receive the monthly prebate check, in advance of purchases, for taxes paid on the cost of necessities.
Yes, The FairTax CAN really be passed into law! The FairTax has undertaken 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 Congress correct 90 years of wrongs done by the income tax.
Do this 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 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 watching this scorecard to see how they stand come election time.
Second, buy and 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 business owners and private individuals manage their income to achieve their financial golas. To learn more about the Money Management Software she created, watch the FREE 5-minute demo video on her website at www.MoneyMgmtSolutions.com
- Sandra Simmons
