‘Abolish The IRS’ — I Like The Idea

It’s an idea espoused by Republican presidential candidate Mike Huckabee in his latest campaign ad: “I wanna be the president who nails the going-out-of-business sign on the door of the IRS. … I’ll lead the fight to abolish the IRS, and we’ll keep our jobs and paychecks.”

Huckabee supports the FairTax proposal to eliminate all federal income and payroll taxes — personal, corporate, gift, estate, capital gains, alternative minimum, Social Security, Medicare and self-employment. A “consumption tax,” fancy lingo for a sales tax, would be imposed instead, and poor people would receive rebates for taxes they pay.

I don’t like any taxes, but a plan to kill a tax code that forces average folks to labor for hours over tax forms or hire accountants definitely interests to me — and a consumption tax encourages savings because if you don’t spend it, you aren’t taxed. Another appealing option is a flat tax on income to make filing easier.

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One Response to “‘Abolish The IRS’ — I Like The Idea”

  1. pajkaki Says:

    Danny; I’m like you “…I don’t like any taxes, but a plan to kill a tax code that forces average folks to labor for hours over tax forms or hire accountants…” is great, but then you have to take it one step further. There’s always state taxes (your aunt Virginia!.)

    To get some idea how truly complex this is, take a look at the http://www.retirementliving.com website. On the home page, scroll down and click on “Taxes by state”. There you will find a really good synopsis of all the types of state taxes there are, then a comparison, of which states have what taxes. What’s really interesting is tax burden as a percentage of personal gross income. The disparity by state is huge!!

    It seems strange to me that the quality of life in say, New Hampshire is not much different than that of Massachusetts, yet the tax burden per person is grossly different (NH is low and MA is high).

    And how about Alaska…they have a REVERSE income tax. Every year the state sends everyone a check! (because they have so much revenue from taxes on oil drilling on the North Slope).

    Oh well, one can only hope someone will drill for oil in my backyard, until then we just grin and bear it.

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