revolamap

Sunday, January 17, 2010

Scrap The IRS!!!!

That's right scrap the IRS, we don't need it! We could completely can the IRS and the income tax since it is anti-productive. The IRS takes money out of circulation from the moment it is collected by means of withholding. If we took away Income Tax and replaced it with a national sales tax. we would stimulate the economy, and eliminate a major expenditure on the Federal Budget. Think of it this way; 1) As Americans, we basically roll over quietly and let the federal government takes as much as 35% of our income away from us, as a prepayment on taxes we may or may not owe. 2) If we fail to pay our taxes on time, we are charged and fined exhorberant amounts, yet if we prepay and are due a refund from everything we paid into it, we don't get paid any interest. 3) Members of Congress to make up any short falls increase the tax rates, designed to redistribute the wealth from the rich to the poor, yet on the back side of that create loopholes to exclude the rich from having to pay, putting the squeeze on those of us in the middle, who make too much to get money from the fat cats and not enough to enjoy those elusive loopholes. 4) the Democrats say they want the rich to pay more, and the poor less, but their policies really only impact the middle class.

Lets take a look at what we should do.

1) Impose a 10% National Sales Tax
a) Food purchases would be exempt
b) Medical and Dental costs would be exempt
c) The first $500 of rent would be exempt
d) The first $50,000 of a primary home purchase price would be exempt
e) Educational expenses would be exempt
f) Business expenditures would only be taxed if the business is the end user

2) Eliminate withholding

3) Employer Matching goes directly into the employees paycheck

The effects of this would mean

1) An increase of 30% of take home pay, because you take everything home along with what your employer was matching

2) The Less money you make means the less taxes you pay since a greater percentage of your check goes to food and housing

3) The rich pay more taxes because they spend more on non-exempt items.

4) Earnings on Savings stay in your pocket until you buy

No comments:

Post a Comment