To the Editor,
April 15 is a tax refund for some. For others it is writing a check. But for all, April 15 is economic Yom Kippur. All must atone on their tax returns for the previous year’s financial deeds.
The income tax is murky and hurts us all. Each of us is charged with understanding the law, but none of us does.
The income tax is inefficient. 25 percent of taxable activity escapes taxation.
The income tax hurts economic growth, treating labor and capital badly.
The income tax is unfair. Some avoid it by re-characterizing income and re-timing taxable events. Others have no such opportunity. Large businesses and trade groups field over 17,000 tax lobbyists to protect their special interests. Did I mention that the income tax is also intrusive and biased?
There is a better way. The FairTax, HR25, S155, repeals income and payroll taxes and phases out the IRS. These taxes are replaced by a national tax on all services and new tangible goods sold at retail in the United States. There is tax neither on B-to-B nor on exports. Lawful residents receive a tax-cancelling allowance for essentials. April 15 becomes just another day, and atonement becomes voluntery.
The FairTax releases the full potential of the American economy, brings more and higher-paying jobs and buttresses Social Security and Medicare. It is transparent, efficient, conducive to growth, fair, neutral and unintrusive. Learn more at www.fairtax.org, and then contact Congress. The FairTax: once you understand it, you’ll demand it.
National Secretary and National Board Member
Americans for Fair Taxation