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Originally published: 2013-08-23 11:13:50
Last modified: 2013-08-23 11:14:34

A fair tax?

The "fair trade tax" (HR 25/S122) -- a more fair taxing structure? Is it a fair tax? It requires repealing the 16th Amendment to the Constitution and replacing it with a consumption tax instead of an income tax. That means that those of us who are not well off, whose income has remained static for the last 30 years while employers' incomes grew astronomically, will likely be taxed on every penny we earn because we just make enough to pay our bills (consumption), if we're lucky, and don't have much of a savings account, if any. The wealthy will pay their bills and still have significant gains in their savings accounts and investments. They can buy a yacht, take a world tour, etc., and still have monies invested. Is it fair to have the majority of the population, just getting by, but taxed on all they earn, and the wealthy continue to grow their wealth? Interest income won't be taxed; it isn't "a new good or service." Do we want the "serfs" held down unable to build a better life for themselves and their families while the "lords and ladies" have it all and keep it? Is that fair?

DJ ThomsonFoscoe