When was the last time you took time, if ever, to figure out how much our federal government takes, in taxes, from you? Have you really pondered what you give to our government, yearly? It doesn't end April 16th ... it's a year round event for our government, most never even think about.
We all are accustomed to April 15th being the day we give to Uncle Sam, then we wait in anticipation to see what it is we will be getting back. , and when that day comes, we actually get excited, acting as if it's found money. We need to lose that feeling and realize enough is enough.
The biggest scam was our government creating the IRS, and the start of withholding. Prior to witholding, people would sit down every Tax day and write out their check to Uncle Sam ... people understood exactly how much they were paying and were none to happy and let their politicians know. So politicians came up with withholding, easing the pain, and hiding just what people were paying to Uncle Sam. And to make it even better for most, they would receive checks back from the government. A nice little ruse indeed.
When you ask someone what they make, you'll hear them spew out how much they take home, but that doesn't answer the question, does it? The problem is, most never think about it ... how much do I make? When you think about it in that way, only then do you ponder how much Uncle Sam takes from you. But it doesn't stop there ...
When you get your check and begin reading the stub, you see the deductions. Medicare, Social Security, Federal, State, local, etc., but it doesn't stop there.
When you go shopping you give to Uncle Sam, yet again. In every single thing you purchase, Uncle Sam reaches into your pocket and takes a good 25 - 27% of the price of whatever it is you buy. A pack of gum, a shirt, pair of pants, shoes, a cd, a dvd, food ... whatever it is, he is there.
So ask yourself again, how much is my government taking from me, try to add it up, and let me know how that feels.
If it makes you as unhappy as it does me, there is an answer. A tax system overhaul that would bring in more then what the current system does. The FairTax is something that has been building up speed as more and more people become aware of it, and you probably heard a lot about it if you were paying attention during the last presidential election cycle.
Our current system taxes on our production, the more we work, the more they take, whereas with the FairTax, it taxes on our consumption. No more income tax, capital gains tax, corporate tax, death tax, etc. (part 2 will go into how the Fairtax helps businesses and brings jobs home)
No I'm not kidding, the income tax is gone forever ( it also repeals the 16th amendment) and now taxes you on your consumption. In each product we buy there is an embedded tax passed on to consumers. This embedded tax is the amount, usually 27%, of a price that companies add in to cover their taxes. With the income and other taxes gone, the embedded tax is gone, replaced with a national sales tax (roughly 25 - 27%). Through all this, prices remain relatively the same.
So now you reive 100% of your check, your production is now all yours, and now you get to pick how much you give our government, based off what you buy. The Fairtax doesn't stop there, though. Everyone pays into the system, citizens, illegals, and even tourists ... they all pay the national sales tax. No hiding what you make, no back dooring, no evading paying taxes, you pay as you go.
Sound good? For further information feel free to visit www.FairTax.org. I will be back soon with part two and would love to hear feedback and debate those against, and answer questions from those who want to know more.