I just have a few pages to go before I finish reading “The FairTax Book: Saying Goodbye to the Income Tax and the IRS”. It’s by syndicated talk show host, Neil Boortz and Congressman John Linder.
As I read this bookI can feel a fresh breeze blowing through my hair and my muscles relaxing, as if a decades long unremitting strain has dissolved! I feel a revitalized inspiration to go out and make mounds of money and save and invest! Unnecessary, imposed complications fall away from plans for the future and a vibrant creative energy radiates from my soul!
I don’t run a business and I barely make enough money to pay taxes, plus I’ve never been in trouble with the IRS, so I guess just the IDEA of getting into the tangled world of big taxes has, possibly, been holding me back financially. Prodos, also. We are not people who enjoy spending time on paperwork. We have real avoidance problems there. The passion to be writing, performing, creating art or music or jewelry or something else delightful makes us happy to be alive and stokes our furnace, keeps us energized.
But all that tax junk sucks the life out of us. So far, however, it’s not the paying that does it since, as I said,wehave to pay a fairly small tax. It’s what we have to do to pay it that makes us want to run away.
Yet, compared with people who earn a more taxable bundle, and especially those who run a business, we’ve got it really easy. And I’m thinking that there’s more than a little wealth avoidance going on with us because of the tax worries and compliance duties that wealthÂwould bringwith it.
So, given how refreshed I feel as I read this book, imagine how you’ll feel ifyou create a big income and then struggle with the complications of the tax code in your business, have to consult with accountants and lawyers about the effect of that code regarding every potential business decisions you’re considering, spend a large sum just complying with the code, or have even run into a bureaucratic nightmare because you or your tax accountant or the IRS has made an error on your taxes.I imagine this book will have you bathing in a heavenly light of ecstasy!
I only hope that all the book’s information is accurate, that the tax would work as the writers claim because, as far as I’ve thought about it at least, it looks like a reasonable plan for bringing us as close as today’s realities could allow to a voluntary tax system. Oh, you’ll have to pay your taxes, alright, because you have to buy retail goods. There’s nothing voluntary there.But inasfar as you can choose on what and how much to spend your money, you’ve got control over how much tax you pay. And best of all, the complications of today’s taxes go *poof!*
It’s a consumption tax, but it’s added onlyat the retail stage, just once, unlike Europe’s VAT (Value Added Tax) which collects a tax on goods at every stage of the wholesale trade that leads to the final product – which is also taxed.
No,no,no! No VAT tax is this! The Fairtax is a one-shot federal sales tax. It gets rid of the 22% embedded costs that now burden the prices of the US marketplace. These embedded tax costs are the tax compliance costs that income and other taxes impose on businesses. The FairTax does away with those complications and their costs,but adds a simple 23% sales tax at the retail level. Suddenly taxpaying is as easy as buying a new hat.
Does this raise a lot of questions or objections in your mind? I’m not going to try to explainhow the tax works myself, because there’s a website that can do that, plus a whole 198 page book that you should read if you want to understand the claims made for this approach to taxation.
Now I want to read up on the Flat Tax and compare the two proposals.
But I know one thing, I want to get rid of the thousands of pages of tax code that give headaches to a taxpayer in proportion to how productive he and his money are.