Some 150 years
ago, Alexis de Tocqueville wrote: “The greatness of America lies not in being
more enlightened than any other nation, but rather in her ability to repair her
faults.”
Today,
America’s financial well-being is threatened by its continued reliance on an
antiquated regimen of tax laws and regulations to generate the revenue needed
to support our government’s spending priorities.
Many of these provisions
served their purposes well when enacted and implemented. For most, that time
has passed.
The House
Committee on Ways and Means recently examined itemized deductions for
charitable contributions as part of its tax reform deliberations.
Some will applaud
the committee for focusing on a high-visibility deduction such as charitable
giving. We at Americans For Fair Taxation feel strongly that by looking at
single provisions of the tax code, the committee is effectively abdicating its
responsibility to analyze and critique the current tax code as a whole to
determine whether it is the right tool to vouchsafe America’s economic
viability in the 21st century.
Instead, we
urge the committee to discard this aging taxation infrastructure and replace it
with the FairTax plan, an approach without the revenue-depleting deductions and
exemptions that are relevant to the economic needs of our nation today.....To Read More...
My Take – The only “fair” tax system is a national
sales tax that excludes nothing and no one.
For a tax system to work properly everyone has to have skin in the
game. That acts as a restraint versus an
effort by politicians to generate class struggles for political gain. This should be a tax on the sale of all
products and materials, at each stage.
The secondary benefit – and these are big - for society will the three
fold. The IRS will largely be
eliminated; the elimination of the need to file income tax returns; corporate
and death taxes will be eliminated.
Corporate taxes are nothing more than a hidden tax on the poor and death
taxes are immoral.
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