Our Stimulus Checks Are Political Pandering
We're all in the process of receiving economic stimulus payments from the federal government. The name itself is a reflection on the state of our flawed and corrupt system of taxation. It's always nice to be handed money, but in this case, unfortunately, a large ingredient in the politicians' motivation is pandering for votes.
How would you like to receive a check every month from the U.S. Treasury? Built into the Fair Tax Act (HR 25) as an absolute requirement is a fair, progressive, and brilliant element called a "prebate" payment.
Everybody gets a calculated amount based on family size. It's fair because it stems from the notion that no one should have to pay a tax on the essentials of life up to the poverty level. It's progressive because those at or below the poverty level pay no net tax, and those above the poverty level pay progressively more tax, depending on what they buy and how much they spend.
The poverty level is established annually by the Department of Health and Human Services. On January 23 this year the poverty level was established at $22,200 for a family of four. Under a Fair Tax Act, a family of four would receive a monthly prebate check in the amount of $425.50 (one-twelfth of 23 percent of $22,200).
Within the Fair Tax Act the prebate amount is not subject to manipulation for political purposes. All that is required to get the prebate is a Social Security number and proof of family size. Citizenship is required. Hmm?
Learn more about the Fair Tax at www.fairtax.org
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