The tax code will no longer pick winners and losers from "summary" of The Fair Tax Book by Neal Boortz,John Linder
Our current tax system is riddled with loopholes, deductions, and credits that are used by the rich and powerful to avoid paying their fair share. These loopholes distort the economy and allow certain industries and individuals to benefit at the expense of others. By eliminating these loopholes and implementing a simple, flat tax system, we can ensure that everyone pays their fair share and that the tax code no longer picks winners and losers. Under the Fair Tax system, everyone pays the same rate on their consumption - no exceptions, no special treatments. This means that the tax code will no longer be used as a tool to benefit certain industries or individuals over others. Instead, it will treat everyone equally and ensure that everyone contributes to the functioning of our society. By implementing a flat tax system, we can simplify the tax code and make it easier for individuals and businesses to comply with their tax obligations. This will reduce the burden on taxpayers and eliminate the need for costly tax preparation services. It will also level the playing field for businesses of all sizes, ensuring that everyone has an equal opportunity to succeed. Eliminating the loopholes and special treatments in the tax code will also remove the incentive for individuals and businesses to engage in complex and often shady tax avoidance schemes. This will increase compliance and revenue for the government, ensuring that everyone pays their fair share and that the tax burden is distributed more equitably.- The Fair Tax system will create a more fair and equitable tax system that treats everyone equally and eliminates the distortions in the economy caused by the current tax code. It will simplify the tax system, increase compliance, and ensure that everyone pays their fair share. By implementing this system, we can create a more just and prosperous society for all.
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