In today's political environment "fairness" is a term bandied about by liberals who see the world through the eyes of a five year old child. "That's not fair." or "You're being mean to me, that's just not fair."
So in the context of fairness I present to you the "fair tax" plan.
The current tax code is difficult to understand and is holding back our economy. Should Congress pass and the President sign a fair tax plan the old days of complicated tax filing would finally be behind us all.
A "fair tax" treats all federal tax payers equally. Eliminating the unfair tax code that soaks the top fifty per cent while the bottom fifty per cent are a load and a burden to the rest.
A fair tax would create a tax rate of less than 20%. This plan would eliminate loop holes such as deductions the wealthy and the rest of us use to hide money from the federal government, but it would also eliminate penalties on investments. The days of double taxation would be over. The capital gains tax, the "death tax" would be gone.
If Congress signed a federal tax reform act tomorrow the economy would see an immediate growth of $5 trillion. This is a modest estimate as some predict a $13 trillion growth. I believe the number to be around$7 trillion, right in the middle. With this extra cash we could lower the federal deficit, fix social security, and bail out medicare and medicaid (both are as broke as our financial institutions).
This is the only true, fair tax plan. The fair tax is a good plan for all us. It is good for business, it is good for families in every economic strata. It just makes good sense and better yet, all but eliminate the IRS. Its a win for all of America.