Though for the most part, news out of Washington, D.C. is negative and makes one cringe either at the absurdity or the lack of common sense used in developing some legislation. However, every now and then the news is good.
Such is the case with efforts of Senator Jerry Moran (R-Kansas) and Senator David Perdue (R-Georgia) to overhaul as well as simplify the American tax system. Of course, the news only becomes truly good if they are able to get something done.
They introduced legislation known as the FairTax which would replace our complicated and costly tax system with a flat national consumption tax and eventually close the Internal Revenue Service (IRS).
As many of us know, the IRS is totally out of control and needs to be curbed. I have been a proponent of a flat tax for a long time. Unfortunately, this has been tried before and never got anywhere but it is my prayer that this time, people will put enough pressure on their legislators in Washington, that we may actually make a change for the better.
A FairTax would put all taxpayers on equal footing. This particular legislation would protect Americans from government intrusion by the IRS, boost business growth. Revenues would still be collected at about the same level as what is collected by the IRS now.
The FairTax would repeal all federal personal income taxes, corporate income taxes, payroll taxes, self-employment taxes, capital gains taxes, gift and estate taxes and replace them with a revenue-neutral, personal consumption tax on all retail sales of new goods and services.
I am still reading through the 132 pages of the bill and I am sure there are some things which will need fine tuning. However, it is a start in the right direction. It is past time the American tax system was overhauled. The current system does not work for American citizens and has gone way past what was originally intended.
The Senators who introduced the bill believe that the FairTax will generate jobs, stimulate the economy and free the American people from the ”shackles of a punitive and out-of-control IRS”.
Additionally, Perdue teamed up with Senator Johnny Isakson (R-Georgia) to co-sponsor legislation to stop the IRS from implementing its proposal to severely curtail the First Amendment rights of citizen 501(c)(4) group’s. It is called the Stop Targeting of Political Beliefs by the IRS Act.
We have heard some about it but probably do not know the full extent of people being targeted by the IRS for their personal beliefs. This legislation would stop that abuse.
Some in Washington are also still trying to repeal the health insurance tax. Isakson has co-sponsored legislation to eliminate the hidden, unfair and punitive tax within the Obamacare law placed on every individual, family and small business purchasing health insurance. It is known as the Jobs and Premium Protection Act.
This bill amends the Patient Protection and Affordable Care Act by eliminating the health insurance tax, an annual fee on health insurance plans enacted by the health care law. It is believed that repealing the tax will help save 152,000 or more private sector jobs that will be eliminated if the tax remains in place.
Many can agree that Obamacare (Affordable Health Care Act) has many wide ranging negative effects and the costs certainly outweigh the benefits. The tax has resulted in higher costs and reduced benefits especially for seniors enrolled in Medicare Advantage. This year alone, the price tag on the health insurance tax is $11.3 billion. Legislatures claim they are still working on eliminating Obamacare altogether, until that is possible they are trying to address the immediate damage which it has caused first.
Isakson teamed up with Perdue to co-sponsor S.264, the Federal Reserve Transparency Act of 2015, legislation that was introduced by Senator Rand Paul from Kentucky. It requires the Government Accountability Office (GAO) to conduct a comprehensive and independent audit of the Federal Reserve. The audit would be reported to Congressional leadership and would be completed by the end of 2015.
I think all of us can agree our legislators have lost sight of what our founders intended. In fact, I am sure some of them have turned over in their graves many times over some of the things they have done.
They went to great lengths to ensure the Constitution would stand the test of time and it does.
But if citizens want to get something done they need to let their voices be heard when legislation is proposed that will change things for the better. Only when the people begin to speak up can we return to a government by the people and for the people. It goes without saying when bad legislation is introduced, citizens certainly need to speak out as well.
I am continuing to pray for our leaders and hope that you will too. Blessings to you.
VICTORIA SIMMONS is a columnist, motivational speaker/ minister and publisher/gm of The Post/Byron Buzz.