Income Tax

My wife was watching TV the other night, and the NBC nightly news came on. Brian Williams covered the stories for the night and one caught my attention. Warren Buffet complained his tax rate was too low because his secretary paid a higher tax rate while making for less money. The question posed by Brian Williams was "Why is his tax rate so low?"

This got to me. This was exactly the wrong question. He should have said "why was the secretary's so high?" If I remember, the Warren Buffets makes his money from investments which has a lower tax rate than does standard income from work.

Here we go. I hate our income tax system. Why?, you may ask. If you can tell me what your tax rate is in less than 30 seconds without looking at your tax return, then I will retract that statement.

The government decided a while ago they could tax our income at a very low rate and only only the wealthy. They have slowly but surely crept this down to everyone. The other thing is that they create tax breaks and all sorts of complications for political gain.

We do need to pay taxes to be able to have roads, schools, utilities, and other services, but we are taxed every which way already. Think about it. You are taxed when you get a paycheck. Then you are taxed when you use that already taxed money when you go to the store to buy something. You are even taxed when you die. Awesome!

Some (read: Democrats) always like to say increase the tax for the rich and the corporations, but they just turn around and raise prices so we just end up paying that anyway.

So now what do we do? First of all Income tax needs to go. I like the Fair Tax because you voluntarily pay taxes when you buy good and services. The other key there is that there is 1 tax rate, and if this was ever increased, we would know about it.

Read the book by Neal Boortz and Rep. John Linder - The Fair Tax Book.