A Day To Think About The Fair Tax

Most income tax forms or at least a request for an extension must be filed with the Internal Revenue Service by midnight tonight, April 15th. Dennis Madden is the State Coordinator of the Fair Tax Organization. Madden said if the federal legislation proposing the Fair Tax was passed and signed this year, next year would be a very different year, tax-wise. Madden said all income, payroll, social security, business, corporate, inheritance and capital gains taxes would disappear and be replaced by a federal sales tax. Madden said politicians instead of trying to find more ways to spend money would be looking for ways to stay within budget because it would be very difficult to raise the consumption tax. The Fair Tax Act was first proposed by Georgia Congressman John Lindner and received 74 co-sponsors in this session of the US Congress. Lawmakers in the state of Michigan have also introduced the bill in its legislature. For more information, check out the web site www.fairtax.org.