The most important piece of legislation imaginable is in committee in the House of Representatives. It is HR 25, also known as the Fairtax. The Fairtax repeals all income taxes and withholding tax, and replaces it with a tax on the sale of all new goods and services.

Why is this so important? As of now, the government has first dibs on your productivity. The amount of your labor that benefits you is only that which the government allows you to keep. That's why I'm philosophically opposed to taxing income (productivity) and in favor of taxing consumption (sales).

Wouldn't the sales tax rate have to be high to replace the income tax? You're damn right it will, and that's because we've got a federal government that is about 8 times the size it should be. The rate is currently believed to be about 23% on all goods and services.

That sounds really bad. How could we ever handle that? Well, consider the following two points. 1) Businesses that sell you things would no longer have the expenses associated with withholding and paying FICA for their employees - nor would they have to charge you for so-called "corporate income tax" that they supposedly pay (only people pay taxes, folks, corporations don't...they build it into their pricing structure). 2) The Fairtax includes a provision to "prebate" an estimated amount to every family that effectively keeps poverty-level Americans from paying any federal tax at all (not my favorite provision, but it will help to pass).

Basically, this thing has been studied to death, and it represents the only real chance for the people to reclaim control of their government.

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