There is a cruel hoax which has been perpetrated against the working poor for far too long in this country. We must put an end to the crony capitalism in Washington, DC, such as, for example, tax write-offs for big corporations, whose lobbyists spend their time smoozing and boozing with the 500+ corrupt politicians who inhabit the Congress of the United States for no other reason than to enrich themselves and their family members by providing favors such as income tax-write-offs for influential corporations. Actually, corporate taxation is just another sneaky way for politicians to get there hands on your, my, and everyone elses money because, in reality, corporations dont pay taxes. Only people pay taxes. Corporations are, tax-wise, legal fictions that have never, do not now, and never will bear the burden of taxation. Corporations pass on their tax burden in the form of higher prices to consumers, lower wages to workers, and lower returns to investors. The idea that taxing a corporation reduces taxes on, say, the working poor, is a cruel hoax. A corporate tax only makes what the working poor buy more expensive, costs them jobs, lowers their lifestyle, or delays their retirement. And the corrupt politicians get rich. This has to stop. So how do we stop it? I think the best way to stop it -- and this solution gives corrupt politicians heartburn because it terminates their power to allocate favors in the form of tax breaks -- is to eliminate the income tax (added bonus: no need for an IRS.) eliminate the income tax and institute what has been called the Fair Tax. The Fair Tax is a consumption tax - a single-rate, federal retail sales tax collected only once, at the final point of purchase of new goods and services for personal consumption. The Fair Tax replaces federal income taxes including personal, estate, gift, capital gains, alternative minimum taxes, Social Security, Medicare, self-employment, and corporate taxes. Under the FairTax Plan, money retained in a business and reinvested to create jobs, build factories, or develop new technologies, pays no tax. This is the most honest, fair, productive tax system possible. Free market competition will do the rest. I hope you will consider my remarks in a positive light and let me know your thoughts on this very important matter.
Posted on: Fri, 21 Mar 2014 01:07:00 +0000
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