If you haven’t heard about the Fair Tax bill introduced and championed by Georgia Congressman John Linder, a member of the House Ways and Means Committee, it’s time to read up.
Congressman Linder (R-GA), reintroduced his personal consumption tax proposal, H.R. 25, also known as the “FairTax,” on the first day of the 109th Congress.
Linder said:
“The time is ripe for fundamental tax reform and a completely new Federal tax regime. I am pleased to reintroduce my Fair Tax proposal today, and look forward to the Congress creating a fairer, simpler tax system that advances our core goals of lower taxes and more freedom for our citizens.”
The only thing as painful as paying taxes is reading about tax codes, theories, and comparative plans. At least that’s the way I feel about it. But this idea is simple to understand and fair to people at all levels of income and stages of life. The Fair Tax eliminates the federal income tax and puts in its place a consumption tax.
Americans for Fair Tax explain:
“Simply put, the FairTax replaces the way we're currently taxed - based on our annual income - with a tax on goods and services. The FairTax is a voluntary “consumption" tax: the more you buy, the more you pay in taxes, the less you buy, the less you pay in taxes.Everyone pays their fair share of taxes, and with the FairTax rebate, spending up to the poverty level is tax free. The Federal government is fully funded, including Social Security and Medicare, and you don't need an expert to determine your Federal taxes.”
Here’s more on the Fair Tax by Linder. Linder and radio host Neal Boortz are wrting a book together on this subject. Should be out soon.
This really should precede the social security issue, but it hasn’t. A total tax overhaul will take enormous political effort, but Linder sees good momentum in Congress. It’s time to get behind this commonsensical tax bill that lives up to its name—“fair tax.”
--James Jewell
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