Law Articles And Legal Issues

Say Goodbye to the IRS and the Income Tax

There is a surefire way to eliminate the IRS and not ever have to file another personal income tax return; or company tax return for that matter! Every dime you earn you would get paid; no taxes withheld. It is within your power to make this a reality!

Congress is reviewing a bill right now that would abolish the IRS and get rid of corporate taxes, personal income taxes, estate taxes, the death tax, etc. It's called the FairTax Act and I am here to tell you not only is it fair, it would definitely solve our country's economic woes in short order. I want to start by saying that The FairTax is violently resisted by an extremely vocal few precisely because it will do what it claims in abolishing the IRS, the more than $300 billion in tax return filing costs, and the blatant corruption of our current tax system. Here's a snapshot of how it works.

What kind of tax is the FairTax?

The FairTax is a consumption tax that is charged when you purchase something new. It is a transparent tax: that means 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 the taxes are hidden in the cost of the item all along the manufacturing line from the raw materials to the packaged end product. These are called embedded taxes because they are hidden from your view. Under the FairTax Act, you would pay the same price for a gallon of milk, but the gallon 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 purchase. The rich spend more money on more expensive items than other individuals. The FairTax will tax them on those purchases.

Tourists and illegal aliens, who currently pay no taxes, would be paying their fair share every time they buy something. Someone who gets cash income and doesn't report it on an income tax return would have to pay the consumption tax on that income when they spend it at the cash register. Yes, our government would continue to 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 positive effect onthe U.S. economy.

By removing the tax penalty for working harder and producing more income, U.S. 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 American companies back home as it would not be an advantage to have U.S. 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.

It would 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. Businesses would no longer be burdened with paying additional 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 run just like it does today, with the exception that its funds will come from a consumption tax, instead of a payroll tax.

Companies that employ workers would continue to report the wages they pay to individual employees to the Social Security Administration only for the determination of benefits. The move to a reformed Social Security system would be eased while ensuring there is sufficient funding to continue paying promised benefits.

The FairTax shields low-income and lower-middle-income families and individuals.

Under the FairTax Plan, poor people pay no net FairTax at all up to the poverty level! Every household receives a monthly prebate check equal to the FairTax paid on essential goods and services [groceries and medicine], and all wage earners are no longer subject to the most oppressive tax of all, the payroll tax.

The FairTax protects senior citizens.

Seniors do very well under the FairTax. Low-income seniors are much better off under the FairTax than underour 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 the 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 goods. 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 taken it upon itself to build a grassroots movement and grassroots alliances to support the effort. However, this will only happen when the American people rally behind the effort, throw off the yoke of income tax slavery, and demand that Congress correct 90 years of wrongs done by the income tax.

What you can do RIGHT NOW to make sure 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 whether your state congressional representatives support this bill. If they are not a supporter or co-sponsor, send them a letter and tell them that you want them to vote for passing this bill and that you will be watching this scorecard to see how they voted 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 easy to understand. Then pass it on 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 families 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 (http://www.moneymgmtsolutions.com)

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