Sunday, August 15, 2010
Fair Taxing
The Fair Tax is a program that would abolish the IRS. It would minimize government involvement in our financial personal lives. Fair tax would only tax us on items that are purchased that we do not need. This would be the most fair way to tax people across the board. It would tax the poor that find ways to buy the new Jordan's every couple of months and it would leave the frugal billionaires like Warren Buffet alone. It's hard to sell people on this idea because we all look forward to tax time. A lot of us get money back but, whenever we cross that threshold when we begin to owe money instead of owed then things such as Fair tax would be more important. What do you think?
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There should be a group (IRS or other) that should be responsible for collecting taxes to help fund programs for individuals who need them. If that means taxing items that we don't need, then so be it. I think those who want to build their wealth should look a items which have a history of generating money, such as investing.
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