My favorite day of the year is nearly over. You are now asking yourself why is January 24th his favorite day of the year. The answer is it has nothing to do with the actual date (although Apple did release the first ever Macintosh 25 years ago today). Today was my favorite day of the year because I had received all of the paperwork necessary to complete my tax return.
What he likes doing taxes? What is wrong with him? I always wondered about him, I guess I was right.
The truth is I do not like doing my taxes at all. However, I do enjoy getting MY money back from Uncle Sam. You see I have this problem with the government thinking it knows what to do with my money better than I do. I do not care if it is Democrats or Republicans, they all do it. Of course I agree that the federal government has a role in our country. However I feel that roll should be MUCH smaller than it is currently. (What to get rid of could be a whole other post and maybe will be someday but not today.)
The other problem I have is with the way taxes are collected. You see by using payroll deductions most people have no idea how much they pay in taxes every year. Most people do not realize that even though your check says you paid a certain amount in federal withholding that is only part of your tax liability. The truth is you employer pays a large sum on your behalf to the government as well. At some point a politician must have said "hey if people never see the money they won't miss it". That is a MAJOR problem. How can we hold our elected officials accountable if they do not even make it easy to know how much of YOUR money they are taking? You can't.
This is where I try to sell you on a new system to replace out antiquated income tax system. It is called the Fair Tax. I could explain it in my own words but thankfully the group pushing for the Fair Tax has a great website with tons of information on it. Here is some of the basic info:
This will conclude the rare rant on my blog. Thanks for reading, let me know what you think in the comments section.
What is the FairTax plan?I encourage you to visit the Fair Tax website at http://www.fairtax.org and read as much as you can about it. On the website you can also buy two books that I highly recommend (you can ever borrow mine if you want). I think you will find it very interesting no matter which way you tend to lean on the political spectrum. If you agree with the ideas I would ask you to help spread the word and get involved.
The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including a progressive national retail sales tax, a prebate to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue neutrality, and, through companion legislation, the repeal of the 16th Amendment.
The FairTax Act (HR 25, S 1025) is nonpartisan legislation. It abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing state sales tax authorities.
The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.
The FairTax:
Enables workers to keep their entire paychecks
Enables retirees to keep their entire pensions
Refunds in advance the tax on purchases of basic necessities
Allows American products to compete fairly
Brings transparency and accountability to tax policy
Ensures Social Security and Medicare funding
Closes all loopholes and brings fairness to taxation
Abolishes the IRS
This will conclude the rare rant on my blog. Thanks for reading, let me know what you think in the comments section.
