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Why We Need To Simplify Or Abolish The Income Tax

For the record:

We are in favor of a Steve Forbes flat tax, a Herman Cain 9-9-9 tax, a national sales tax, or anything that would radically simplify our godawful and incomprehensible IRS tax system.

The Fair Tax would abolish the income tax, the corporate tax, the capital gains tax, the dividend tax, the payroll tax, AND the death tax and replace it with a 23% national sales tax. There are political perils to the Fair Tax, as some of our friends have pointed out, but Imagine an American economy untethered from all of these taxes. We are talking about an economic sonic boom.

Consider this: When the 16th amendment was adopted in 1913, the tax was just seven percent and the income tax was so short and concise that the New York Times published the entire text on the paper.

Now look at it, 75,000 pages of laws and incomprehensible regulations:

As our co-founder Steve Forbes has noted, If we were to simply make the tax code flat and simple, rather than doubling the size of the IRS, we could cut it in half. And if we had a fair tax we could cut the IRS by about 90 percent!

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