This country has been indoctrinated into thinking that the Income Tax system is the way to fund the government.
But the Income Tax system is a corrupt mess and only gets worse as time goes on.
Eventually the whole Income Tax system is going to collapse on itself as it gets larger and larger, more paper intensive, more confusing and mind numbing.
If you add in the fact that the Income Tax code itself is close to 70,000 pages long plus the hundreds and hundreds of thousands of pages that make up Income Tax Revenue Rulings, Private Letter Rulings, Tax Memorandums, Tax Publications and Tax Court cases, you can see that the whole system has turned into a complicated and unintelligible mess.
The Income Tax system is also extremely inefficient.
That’s why there has been and always will be a “tax gap”.
Plus the Income Tax code is NOT always progressive for extremely wealthy individuals and corporations.
That is because of all the Income Tax credits, deductions and loopholes that is written into the code itself.
Extremely wealthy individuals are able to zero out their extremely high taxable income by taking advantage of these credits, deductions and loopholes because of this “system”.
Finally, according to President Obama’s tax commission, citizens of this country pay close to 140 BILLION DOLLARS in tax preparation fees on a yearly basis.
They also spend over 7 BILLION HOURS in Income Tax record keeping.on a yearly basis.
And on top of all this, Treasury Secretary Geithner (who is in charge of the Income Tax) and Congressman Rangel (who writes Income Tax policy) both don’t know how to correctly fill out their own Income Tax return.
So when those who write Income Tax law and those who are in charge of administering Income Tax policy don’t know how to correctly fill out their own Income Tax return, what hope is there for the rest of us?
So this country has a choice to have an open honest debate on what to do about the current tax system.
That means no more lies about how various candidates want to add a 23% sales tax and then forget to mention that they also want to abolish all income taxes and payroll taxes,
And then also forget to mention that in various surveys of foreign companies, 80% of them would build their next factory in the United States if the Income Tax system was abolished and another 20% of them would would relocate their whole company back here entirely.
That means jobs and manufacturing coming back to the United States.
So any candidate that LIES about the Fair Tax is then supportive of the current and corrupt Income Tax system that does NOT work.
That in itself tells you something about that particular candidate.
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