The US really needs tax reform. The more I think about it, the more I am in favor of some sort of consumption tax to replace the income tax. The Fair Tax is the plan I lean toward right now. That plan has a method for accommodating the poor. It also has a lot of research behind it which has been used to determine a tax rate that would bring in the right amount of revenue to pay the government's bills. If properly legislated, it should have provisions to make it very difficult to change the tax rate.
One of the big problems that our present tax code has is that is places too much leverage in the hands of the politicians and bureaucrats in Washington, DC on both sides of the aisle. That is also why it is going to be very difficult to get such a tax policy passed and signed into law. However, if we are interested in what is most beneficial for our country, Americans should work to make positive change happen.
One of the big benefits of a consumption tax is the elimination of all tax breaks and loopholes. The amount of tax a person pays will be determined by the choices individuals make in spending their money. As it is now, one does not have choice in the amount of their taxes unless they choose to have less income. It is time for our government to not only get spending under control, but also to reform the way it collects money from its citizens. If you are like me, you are also fed up with the class warfare that is going on with regard to the present tax system. Let's get rid of it and start all over.
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