The tax system will be simplified from "summary" of The Fair Tax Book by Neal Boortz,John Linder
Simplifying the tax system is a key component of the Fair Tax plan. Currently, the tax code is overwhelming in its complexity, with numerous deductions, credits, and loopholes that only serve to confuse taxpayers and create opportunities for tax evasion. By implementing a flat consumption tax, many of these complexities will be eliminated, making it easier for individuals and businesses to comply with the tax laws. Under the Fair Tax plan, all individuals and businesses will pay the same tax rate on their purchases, regardless of income level. This eliminates the need for individuals to keep track of various deductions and credits, as well as the need for businesses to navigate the complexities of the current tax system. By streamlining the tax code in this way, the Fair Tax plan will make it easier for taxpayers to understand and comply with their tax obligations. In addition to simplifying the tax code, the Fair Tax plan also aims to make the tax system more transparent. Currently, many individuals are unaware of the true amount of taxes they pay, as much of the tax burden is hidden in the prices of goods and services. By implementing a visible consumption tax, individuals will have a better understanding of how much they are paying in taxes, leading to greater accountability and oversight of government spending.- Simplifying the tax system is essential for creating a fair and efficient tax system that benefits all Americans. By eliminating the complexities of the current tax code and implementing a flat consumption tax, the Fair Tax plan will make it easier for individuals and businesses to comply with the tax laws, while also increasing transparency and accountability in the tax system.
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