Many people have heard that the IRS is working on updating their systems and modernizing their software for a more efficient and secure operation. Unfortunately we have been hearing this same refrain year after year and decade after decade. Sam Corcos with DOGE recently stated “We’re now 35 years into this program. If you ask them (the IRS) now, it’s five years away, and it’s been five years away since 1990. It was suppose to be delivered in 1996, and it’s still five years away.”
Every hard-working American taxpayer should be beyond frustrated and disgusted with such an antiquated, inefficient and broken tax system. What’s sad is that the system has become so large and unwieldy that any attempt to make it better ends up being an exercise in futility- like rearranging the deck chairs on the Titanic.
According to the National Taxpayers Union Foundation, our income tax system inflicts an almost unimaginable burden on American taxpayers. Americans spend 6.5 billion hours preparing and filing their taxes each year. In addition, they spend over $414 billion in annual costs. That’s over and above their actual tax liability. In 2021, IRS commissioner Charles Rettig noted that we have a $1 trillion annual tax gap. That’s money owed but not collected thanks to illegal tax evasion.
There are over 80,000 pages of income tax law, income tax code, and income tax law interpretations that every taxpayer is responsible for adhering to. Furthermore, the vast majority of the 20 million or more illegals in our country do not file or pay federal income taxes. The grievances go on and on. But, there is a solution – the FAIRtax.
The FAIRtax is a 132-paged bill that replaces those 80,000 pages referenced above. There will be no more income tax returns for businesses or individuals, no capital gains, no AMT and no gift or death tax. We simply pay the FAIRtax when we make a retail purchase of new goods and services. Individuals will have no tax reporting obligations and only businesses that sell at the retail consumer level will have to collect and remit the FAIRtax. Under the FAIRtax, illegal evasion is expected to plummet by 90 percent. Everyone consumes which means everyone will pay their fair share including criminals, under-the-table workers and illegals. And best of all, there is no need for the IRS and that corrupt and inefficient organization can be abolished.
It’s time to replace the income tax Titanic before it eventually sinks with a more sea-worthy vessel – the FAIRtax.
For more information please go to FAIRtax.org
