Answer To Our Economy: FairTax
I’m not sure how many people know about the FairTax system, but I would guess it is not many. Through years and years of research and studies, the FairTax proposal would restore the U.S. economy, bring home many jobs, alleviate the current loss of taxes, and further our country in so many ways.
I would like for everyone to check out fairtax.org for more information about the FairTax system. I will be posting several entries about the FairTax proposal, but here are a few unique facts to think about. Once you digest the following facts, take a look at fairtax.org or read The FairTax Book by Neal Boortz and John Linder. This book is an easy read and will explain the FairTax system and the arguments against it!
Did you know that Congress had to pass an amendment to the Constitution to install an income tax? February 12, 1913 marks the day the Sixteenth Amendment was ratified and making it “constitutional” to tax our income!
Did you know that it costs America $265 billion a year to prepare and file tax returns and 6 billion hours to do it?
Did you know it took us 113 days of work to pay for our tax burden? This is longer than any other thing we pay for: (we work 108 days to pay for food, clothing, and housing combined)
I bet you didn’t know that 32.58% of all tax returns paid no tax?
Business decisions made to reduce tax burden versus increase revenue results in an 18% loss to GDP.
There are many more staggering statistics out there about our current tax system. The FairTax is the answer to our economy, our country, and our lives. Look into it and let your congresspeople know you are for this kind of change.