In my last post, I outlined how we could welcome immigration
reform while reforming the tax structure as a buffer to the costs. I also mentioned a consumption tax such as
the Fair Tax. The Fair Tax was
introduced this past week with more supporters in the past (Reed, 2015). Whether this is the consumption tax that we
need or it could be revised, it is important that each of us explore this
option. One could refer to my previous
blog post to a link outlining the pros and cons. Many of you are probably worrying about the
percentage of a consumption tax. Keep in
mind taxable items have a built in tax to cover corporate taxes which would go
away. A real consumption tax would rid corporations
of most taxes so items would also cost less.
As a member of the middle class we cannot continue to carry everyone’s
burden. One thing that caught my
interest was the recent suggestion that we fund free community college for two
years for those eligible. That is a
great idea. Why not fund our children
and reduce aid to countries that are not our friends. Then I thought about the cost to federal and
state government. Again that would fall
to taxes on the middle class. A
consumption tax would involve all of us.
Please review the Fair Tax. I
will again include the link for the pros and cons on this blog entry as
well. Please ask questions and offer
feedback. This and all new ideas are a
work in progress.
Amdeo, K. (2011, November 30). Fair Tax.
Retrieved January 5, 2015, from
http://useconomy.about.com/od/fiscalpolicy/p/Fair_Tax.htm
Reed, K. (2015, January 7). Political Notebook:
Fair Tax Introduced With Record Support. Retrieved January 7, 2015, from
http://www.gwinnettdailypost.com/news/2015/jan/07/political-notebook-fairtax-introduced-wit
