In this entree I am going to be talking about the FairTax and its presidential supporters. The fair tax is a bill in congress that currently has 72 cosigners. It was constructed as a way to make taxes easier to understand. It abolishes the IRS and it also eliminates all taxes including the income tax which means that you are getting one hundred percent of your pay check. The FairTax is a national sale tax of about 23% so for every dollar you spend you give the Government 23 cents. If you are a citizen of the USA you will get a check from the Government so you are basically paying no taxes. Tourist, drug lords, criminals and illegal immigrants have to pay taxes just as we do. Law abiding citizens do not have to pay all of the taxes by them selves. As for the FairTax supporters there are seven in all one democrat and six republicans. The list of names are Mike Huckabee, Mike Gravel, Allen Keyes, Tom Tankredo, Ron Paul, Duncan Hunter and John cox. Mike Huckabee and Allen Keyes speak out the most for the FairTax.
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I know these Guys are not Presidential candidates anymore but when I posted this on my Blog they were.
I hope you enjoy this idea.
I have always liked the idea of a national sales tax instead of income tax.
"If you are a citizen of the USA you will get a check from the Government so you are basically paying no taxes."
What? Maybe you mean low-income families will pay basically no taxes. The idea is that every household will get a rebate check for some set amount (depending on family size) to offset the tax burden for the poor.
The rebate is sort of the opposite of the percapita tax suggested by Hrench. Though his plan was for the percapita tax to be the only tax. I suggested combining his percapita tax with a sales tax, but I really think that the sales tax + rebate idea makes more sense.
I also think a national sales tax makes more sense.
One down side, is that black market goods are not taxed really, however some of that money does make it into the legal economy.
Another problem may be tourists, whom aren't citizens.
The tourist's from the countries, if they were to purchase any products in the united states they would be taxed.