I’m a fan of The Fair Tax. It’s the fairest tax of which I’m aware. Which makes its name so perfect.
For those that aren’t familiar with the tax plan, the basics are:
- No more federal income tax.
- A sales or consumption tax replaces income taxes. There is no sales tax on essential goods such as food or medicine.
- No more personal filing of tax returns. April 15 would be a holiday!
- No more IRS. Sorry tax accountants.
The reasons for this tax plan’s awesomeness are many, but in short, those with the most money pay the most taxes because they buy the most stuff. And, because taxes are based on purchases, illegal immigrants, tourists and drug dealers would all be paying taxes.
This tax plan just hasn’t caught much traction, as there are some pretty powerful lobbies opposed to its implementation. And, unsurprisingly, a majority of Democrat politicians.
But, if The Fair Tax were implemented, Obama’s three problem cabinet appointees wouldn’t have had any tax issues to interfere with their appointments and two of them would be serving today.
If you are familiar, what do you think about it?