Taxes are a bitch. I haven’t ranted about them recently so it’s due for one. That last post about being in the two got me to thinking about it. Did you know that the top 5% of wage earners in the United States pays 55% of the federal income tax? The top 5% earns 31% of the income in the U.S. but pays over half the taxes. That ain’t right. Now I am not particularly for increasing anyone’s tax burden, least of all the people that can ill afford it but I am for doing away with the federal income tax completely and putting in a consumption tax such as the Fairtax. It wouldn’t apply to the purchase of used property, cars, clothing from consignment stores, etc…which is where most of the folks that work for me do their shopping for autos and clothing so it wouldn’t hurt them as bad as opponents of the bill like to mouth off. Not only that but everyone in the U.S. would get a prebate check to cover the amount of sales tax they would be paying up to the poverty level, so people in the bottom 5-10% would actually be making MORE money than they are now.
Think about it. If you make $40-60k a year right now you are bringing home considerably less than that. Wouldn’t it be nice to bring it ALL home and do with it what you want rather than having the federal government make those choices for you?