My Own Political Party

I just received the book “The FairTax Book” written by Neal Boortz and Congressman John Linder. I haven’t had time to read it yet, but I did come across the website www.fairtax.org. The intent of the FairTax is to eliminate the Federal Income Tax and the many loopholes that exist. Instead of an income tax, which taxes income, the FairTax taxes consumption. The more you spend, the more expensive items you buy, the more taxes you will end up paying.

There is a lot more involved in this system then just taxing consumption. The plan is set up so that Social Security and Medicare are still funded. It also ensures that any illegal immigrants in this country are also paying taxes.

Each family gets a rebate that depends are items such as their income level, the number of children in their family, the charitable giving and their mortgage. I tried the FairTax calculator. I would save approximately $20,000 in taxes each year!!

How can that be? For one thing, the FairTax will close loopholes that some citizens have been exploiting. Also, those that are not paying any taxes because of citizenship status or just simply non-payment, will be paying each time they make a purchase. Sounds like a great idea!