Fair Tax or IRS Refund?
Filing For IRS return
Today, the United States is discussing a federal tax system overhaul that would do away with the IRS. The Fair Tax plan would replace IRS taxes with a country-wide sales tax that each taxpayer of our society would pay as a part of everyday shopping. Paychecks would not have federal taxes taken out of them any more, which would act like a higher pay that would allow more US citizens to shop for the services that they need.
One of the difficulties being seen with our current Federal income tax system are numerous con games that creative people use to hide assets, or to otherwise avoid paying their fair share of the income tax that must be paid to keep the USA running smoothly. While income tax refunds are nice to have, many people believe that having their whole paycheck to spend would be nicer.
The Fair Tax proposal would attempt to tax only the new items being acquired for use or consumption in personal dwellings; it would not apply to business expenses. The suggested tax rate is placed at twenty three percent, with monthly rebate checks being sent to households that are in lower income brackets. This monthly payment would act like our current federal tax refund checks and be free money for the lower income homes to use towards necessities.
Lamentably, the rebate plan that would send out monthly Federal Refund checks for the Fair Tax is part of the obstacle that is keeping this simple taxing system from entering our lives. The richer do not want the poorer to have monthly Income Tax Refund checks. The richer claim that it would be biased to make the poorer pay less taxes based upon incomes. The proposed monthly Income Tax Refund checks act to reduce taxes.
The current US President is against the Fair Tax plan, and wants to overhaul the current income tax system, to include more pages of instructions on how to get our Income Tax refund checks. It is quite possible that there isn’t an US Citizen alive that has ever filled out their own Form 1040 (long version) that would vote ‘yes’ to more pages of Income Tax instructions.
The Fair Tax proposal has been proposed to congress during each session since 1999. Perhaps today is not the day that income taxes will be revoked. However, at some point in time the antiquated income tax system will cease to function correctly and need to be changed. Today, it is too easy for many citizens to hide income made on-line, or made working ‘under the counter’ or, for Americans to be injured through income tax scams.