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Friday, August 1, 2008

Imagine this..........

First, let me tell my lovely wife that the new gadgets you see on the right are my doing. You put the first one, and I watched. So the other two I was able to do on my own.



The rest of this post is in response to an e-mail my wife received from Miss Krys concerning taxes. Let me tell you, the Democrats have made no bones about the fact that they are planning on reinstating the taxes that the President cut a couple of years ago. Yes, this is includes Obama, the presumptive Democratic nominee for president. Yes, that's right, the Democrats plan on taking more money out of our pockets. They are planning this to pay for all of the socialist, left-wing programs that they want to institute or keep funding.

So, imagine, if you will, a chance for us to not pay any taxes on our income. No taxes on property we inherit. No taxes on dividends. None of it. Instead, we pay a tax on all new items we buy. A consumption tax. AND we get a check each and every month to help defray the taxes on food and necessities up to the poverty level. This means that anyone who buys goods in the United States will pay taxes. Drug dealers, illegal immigrants, everyone. Companies will not have to charge so much for goods, because the tax burden for them will not be there anymore. Wouldn't this be great?

This is what the Fair Tax will do for us. Now, before everyone goes and starts to get all uptight about this, there are numerous studies that show that we already pay about 22% of every dollar we spend on taxes that the companies who make the products include in their costs. The Fair Tax will institute a 23% tax on all new products we purchase. NO MORE INCOME TAX. That means no more IRS. No more tax audits. Wouldn't that be wonderful?

With no more income tax, if we get hired with a salary of $50,000 per year, then we get paid $50,000 per year. Not something less than that because of Federal Income Tax, Social Security and all of that stuff. Granted, there would be no more income tax refunds to look forward to every year, but just think of what we could do if we didn't have to worry about that.

It also has a provision to pay every head of household a monthly prebate, based on the number of people in the house and the poverty level for that number of people. That's right, we would get a check so that anyone who is at the poverty level or below, will not have to actually pay the taxes. They would when they buy things, but they will get a check to cover those costs. If you spend more than what is necessary, then you will pay the taxes on anything above the poverty level you spend.

Studies have shown that this plan will be able to pay for everything that the government is involved in already. It will cover the shortfalls in Social Security and Medicare as well as all the expenses of the already over bloated government.

Last thing, this is not a political plan. It came about when some business men decided that they had to do something to fix things. No politicians became involved until the plan was together. There are two bills in Congress, one in the House and one in the Senate. Why don't we all get in touch with our people in these two institutions and let them know that this is the solution.

I hate to endorse a book or anything like that, but, I have read the bills, and because they are written in legal mumbo jumbo, they are hard to understand. Look for a book called The Fair Tax book or go over to http://www.fairtax.org/ to get information. I am positive that anyone who actually looks at this will agree that this is what is good for all of us.

2 comments:

C said...

Ahh, you sound like my husband. He's a big Fair Tax proponent.

My only concern with the FT is that so many larger ticket items (read: tax revenue generators) will be purchased offshore to avoid paying. Thoughts?

The Man on the Edge said...

c,
That's the beauty of the Fair Tax. All of these things already cost us an average of 22% more because of taxes. If we eliminate the tax burden on the companies, then more companies will want to come here to the US because it will cost less to manufacture. Then the cost savings will be past down the line and we pay 23% in tax on that item. For the consumer, it's a wash. Plus, we will have jobs coming in to our shores instead of leaving.