I heard about the "FairTax" on the radio the other day and it sounded interesting. Although I have only begun to do research on it, what I've read and heard about it so far seems really interesting. It could possibly be a way we the people of the United States of America could see and affect changes in how politicians spend our money. We would also see how much we really do pay in taxes.
Some highlights thus far:
1. Do you think of a tax return the same as not having to pay taxes? You did pay taxes, they are just giving some of what you paid back. And that is not all you paid them. Have you looks at a paycheck and noticed just how much you don't take home? Have you seen a check tell you you've grossed $1,852.56 but you take home only $1,429.42? $299.84 of that one went to the government as taxes. Under the Fair Tax the net would be $1,729.26. That's a lot more money to spend each paycheck. With the FairTax you would pay taxes just like sales tax, when you made purchases. If you don't spend as much money, you don't pay as much in taxes. You would also see how much you are spending in taxes, instead of forgetting about the amount that is taken from your check each month.
2. If government wants to try to colonize the moon, and they decide they want to raise the Fair Tax by 2% to do so, the people of the United States of America would see that tax increase coming and have more influence on their elected officials. We the people would understand the changes to the our taxes and make better decisions on who we voted for and what ideas and plans they campaigned under.
3. The FairTax actually eliminates and reimburses all federal taxes for those below the poverty line. This is accomplished through the universal prebate. This is money given to all American tax paying people based on the amount of money needed for necessities.
There is a lot more. And like I said, I'm still researching and reading about it. I'm not really that political but I have been greatly affected by the changes in the economy. My house lost 50% of it's value in 4 years....that's if it would sell right now for anything. I'm interested in change. How about you? Write me some comments after checking out FairTax.org.
February 28, 2009
FairTax.org
I heard about the "FairTax" on the radio the other day and it sounded interesting. Although I have only begun to do research on it, what I've read and heard about it so far seems really interesting. It could possibly be a way we the people of the United States of America could see and affect changes in how politicians spend our money. We would also see how much we really do pay in taxes.
Some highlights thus far:
1. Do you think of a tax return the same as not having to pay taxes? You did pay taxes, they are just giving some of what you paid back. And that is not all you paid them. Have you looks at a paycheck and noticed just how much you don't take home? Have you seen a check tell you you've grossed $1,852.56 but you take home only $1,429.42? $299.84 of that one went to the government as taxes. Under the Fair Tax the net would be $1,729.26. That's a lot more money to spend each paycheck. With the FairTax you would pay taxes just like sales tax, when you made purchases. If you don't spend as much money, you don't pay as much in taxes. You would also see how much you are spending in taxes, instead of forgetting about the amount that is taken from your check each month.
2. If government wants to try to colonize the moon, and they decide they want to raise the Fair Tax by 2% to do so, the people of the United States of America would see that tax increase coming and have more influence on their elected officials. We the people would understand the changes to the our taxes and make better decisions on who we voted for and what ideas and plans they campaigned under.
3. The FairTax actually eliminates and reimburses all federal taxes for those below the poverty line. This is accomplished through the universal prebate. This is money given to all American tax paying people based on the amount of money needed for necessities.
There is a lot more. And like I said, I'm still researching and reading about it. I'm not really that political but I have been greatly affected by the changes in the economy. My house lost 50% of it's value in 4 years....that's if it would sell right now for anything. I'm interested in change. How about you? Write me some comments after checking out FairTax.org.
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Very interesting. Tax laws are so confusing now, I think I would support just about anything that simplified it! I still can't seem to understand how the "prebate" thing works. How are they going to get that money back to you? I'll keep reading, I guess.
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