Few people would expect a book about taxes to take the New York Times best-seller by the storm, but this is exactly what the Fair Tax Book has done. For decades, Americans from every point of the political spectrum have moaned about April 15th and the maze of ridiculous instructions and high confiscatory taxation that accompanies that day. The current tax code is a labyrinth of over nine million pages of indecipherable jargon only a federal bureaucrat could fully appreciate. So there is nothing we can do about this monstrosity?
You bet. The Fair Tax Book, written by Georgia Congressman John Linder and unions at national Talk Radio host Neal Boortz, presents a perfect case for which the current tax code and must be replaced by a simple and easy to understand tax system that cuts the 'current nine million pages of bureaucracy in favor of a 133-page gateway to prosperity.
The concept is simple. All current federal taxes - income taxes, Medicare taxes, social security taxes, gasoline taxes, capital gains, etc. - will be eliminated overnight. In their place, the federal government will be a single tax of 23% of sales on all retail goods. The workers will finally take home 100% of their salaries. Investors will finally be able to invest without having to worry about tax consequences. And April 15th will be just another ordinary day. Sounds simple right? Well, probably more than a few questions and concerns. But The Book Fair Tax is running a stellar job to address frequently asked questions. Questions like the following:
If we do this, not prices go up by 23%? No. The elimination of all federal taxes also eliminate the embedded tax costs relating to all products currently sold. Since the Fair Tax only applies to end products for retail, not the inputs used in the manufacture of such products, prices will drop on average by 22% across the economy. Therefore, prices will remain the same!
What about the poor, do not get hammered by the fair tax? Absolutely not. In fact, the Fair Tax is the only tax reform plan to Congress that completely eliminates the tax burden of the poor. Under the fair tax, every American (from the richest among us for the poorest among us) will receive a monthly allowance of reimbursement by the federal government covers the cost of the tax of 23% of sales to the poverty line. Then, a check of about $ 450 will be deposited in bank account to cover all the tax of 23% for the basic needs of life (such as food, gasoline, clothing, etc.)
Probably more questions than can possibly be addressed in this short article, but I have no doubt they will all be answered if you simply take the time to read The Fair Tax Book. Authors Neal Boortz and John Linder brilliantly lay out their case for tax reform in a format that is easy to read even a little funny. And with the powerful and influential Americans such as Tom Delay, Alan Greenspan, and Sean Hannity all trumpeting their support for the Fair Tax, seems certain to dominate the sphere of political discourse in the months and years ahead.
Once you read, you probably agree that the Fair Tax book is probably the most important book to hit the American political scene from Uncle Tom's Cabin. The FairTax is simple and easy to understand. More importantly, it returns America to the original intent of the Founding Fathers with the creation of a system of voluntary taxation, which unleashes the true potential of free individuals. The explosion in wealth creation, determined to follow the will of fuel position America as the world's leading superpower for decades to come and strengthen the future of our nation for our children and grandchildren.
As a result, the Fair Tax Book probably launch a political revolution. With the 2006 mid-term elections approaching, the time to educate yourself for the Fair Tax Act of 2005. You might also decide to become a minuteman in this modern day American tax revolt!
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