NO V.A.T.

April 7th, 2010 at 3:09pm

Even if we weren’t in an economically difficult time right now, the LAST thing we need is ANOTHER TAX!

The REAL problem, of course, is too much government spending… and we really need to tie the hands of Congress to get control over this and other abuses that our “leaders” take for granted now.

The answer to the problem is not to add another tax, but for government to cut back… like the rest of us have had to do… and to spend wisely. I’m not advocating NO government, just limited government… spending only on things it SHOULD be spending and spending only as much as we can afford on those things (no matter how much we might like them).

Rather than ANOTHER TAX, which would be subject to increases and more political abuse, I like the idea of the Fair Tax… which:

NO MORE deducting federal income tax withholding from your paycheck and no more filing tax returns by April 15th.

Just a single FEDERAL SALES TAX that REPLACES all of the above. The amount of taxes would not be different, it’s just the way the taxes are collected that would be different. This is a “revenue neutral” plan (meaning, it doesn’t collect any more or less taxes… just changes the mechanism for collecting those tax dollars). So, why is this a good plan?

First, it is a simpler and less-intrusive way for the federal government to obtain taxes from citizens.

Second, WE would know EXACTLY how much we are paying in taxes (the current scheme is so complicated and there are so many different taxes that it is very hard to determine precisely how much tax each of us pays).

Third, the tax RATE would be HIGHLY VISIBLE… and any attempt to change it would be VERY CLEAR to every citizen. No longer would Congress be able to manipulate little taxes or grant deductions or exceptions to special interests.

If we allow Congress to enact a Value Added Tax (V.A.T.), it will be just one more way they can get into our pockets… and one more way they can avoid being fiscally responsible in handling the business of our country.

NO V.A.T.!!!

Posted in Taxation

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