“Every Republican tax-reform plan should be rooted in this reality: If you are going to have federal spending that is 21 percent of GDP, then you can have a.) taxes that are 21 percent of GDP; b.) deficits. There is no c. If, on the other hand, you have a credible program for reducing spending to 17 or 18 percent of GDP, which is where taxes have been coming in, please do share it.” —National Review’s Kevin Williamson

I’ll go one step further – if your tax rate is 17 -18% of the GDP, it’s too high. You are strangling the flow of commerce and economics. If, however, a person could keep all that they earn, and only pay a consumption tax on durable goods, that would be the fairest way to collect taxes. If you don’t buy a lot of durable goods, you don’t pay a lot of taxes. If you buy a lot of durable goods, you pay more taxes. That would ensure everyone pays taxes, according to their income bracket, without a lot of complex forms and formulas, and very little need of an entire bureaucratic arm of the government to track, collect, and penalize.

There is actually a House resolution stuck in the House Committee on Ways and Means regarding this very idea, the FairTax Act of 2015. It was sponsored by Representative Rob Woodall, from Georgia. Why is stuck in committee? Because it calls for abolishing the IRS by 2019, and has a sunset clause that will cancel the FairTax if the 16th amendment is not repealed within seven years of H.R. 25 becoming law. It also only funds a very small portion of the government – as it should. A lot of the current activities of the government would, by necessity, need to be done away with. Naturally, because it strikes at so many sacred cows, the prostitutes – I mean, the Members of Congress most affect by this act are stalling it.

Calls to your representatives urging them to push for the passage of H.R. 25, the FairTax act of 2015, would be greatly helpful.

Chat ya later…

Thanks for stopping by, In GOD We Trust, and Wear Red on Fridays!

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I’m going to borrow an idea that I saw this morning over on Chicks On The Right and ask you if you have ever really looked at your pay stub. Not just checking it for how much you get this pay period, and how much vacation you have saved up, but really looked at some of the numbers below the Amount Earned section.

The next time you get a pay check, stop and look. What if, instead of the withholding being done automatically, you had to write out a check to the government every time you got paid? What if tax day was every two weeks, instead of once a year? (or quarterly, if you are one of those evil rich people with your own business)

Would the amount of money you would be sending to the government every two weeks be enough to get your attention? Would the amount of money that Obama(THHO) and his cronies are spending every two weeks out of YOUR POCKET make you stop and say “Hmmm”?

What do you think you could do with the amount the government is mandating that you owe them? How much better could you be saving for retirement? How much more good could you be doing for those less fortunate? How much would the stress level about affording college for your children go down? Would you still be driving that 17 year old car that, while it’s paid off, still demands a lot of money in the form of repairs and upkeep? (full disclosure: I drive a 17 year old car, and it demands a lot of money every month in the form of repairs and upkeep)

There have been rumblings about disbanding the IRS and changing over to a flat or fair tax. Both are sound ideas. Personally, I like the idea of a consumer tax – you spend money, you pay a consumption tax. That way, everyone is being taxed proportionally. You have more moeny to spend? You pay more taxes. You don’t have as much to spend? You pay less taxes.

So, here’s your homework for next pay period. In the comments below, please tell me what your feelings are about supporting a government that takes so much from you, and please expound on the level of return you get for that investment.

Chat ya later…

Thanks for stopping by, In GOD We Trust, and Wear Red on Fridays!

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