Current Tax Code
Our current tax code is outdated, cumbersome, and extremely inefficient. Each year Congress adds exemptions, modifications, and rate adjustments to our tax code, which is now over 70,000 pages. Taxes are collected on individual's income, corporations profits, estate taxes, social security tax, Medicare tax, self employment tax, just to name a few.
To illustrate how inefficient our current system is, consider this. For every $1.00 that is collected, only $0.77 goes to the US Treasury. The other $0.23 cents is consumed in either waste or cost of compliance.
To illustrate how inefficient our current system is, consider this. For every $1.00 that is collected, only $0.77 goes to the US Treasury. The other $0.23 cents is consumed in either waste or cost of compliance.
Fairtax Summary
The FairTax is designed to collect the exact same revenue as todays system. But, instead of having a jumbled set of hidden and penalizing taxes, we have one simply tax paid at the point of sale for new goods and services. In other words, under the FairTax their is no income tax, no social security tax, no estate tax, no corporate tax. The revenue the Federal Government needs is simply collected in an upfront and transparent sales tax on new goods and services.
Learn More About FairTax
Click on the FairTax icon for detailed information. This link will take you to the national FairTax site. You will find comprehensive detail on the FairTax as well as updates and current legislative activity.
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The issue of State budgets and regaining jobs in both Kansas and Missouri has never been more challenging. The problem and the solution is described by Jonathan Williams’ book “Rich States, Poor States”. You can contribute online and the book will be mailed to you.
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