As people file their taxes this season, they should be aware that the numbers may look different next year — and not in a good way. That is because as the nation recovers from a pandemic in which many lost their jobs, Democrats want to raise taxes.
In this moment of turmoil in our country, my colleagues on the other side of the aisle are focused on who should pay more. No hardworking person or job creator is safe.
However, there is an easy solution to this attack on paychecks: the FairTax.
The FairTax would eliminate the federal income, payroll, and estate and gift taxes and replace them with a revenue-neutral national 23% consumption tax.
This would level the playing field, allowing people to keep every cent of their hard-earned money while ensuring everyone pays their fair share.
Every single person, whether they were born in America, immigrated here 20 years ago, or came illegally across the border yesterday, would pay a 23% tax on new goods and services.
The FairTax’s approach would capture tax revenue from the spending of the estimated 11 million illegal immigrants in the United States, and with a crisis along our southern border, that number may continue to grow. The FairTax also eliminates tax benefits that illegal immigrants have been able to take advantage of. While illegal immigrants are not eligible for federal public benefits, a 2011 Treasury Inspector General report found that individuals who are not authorized to work in the U.S. were paid $4.2 billion in refundable tax credits.
The FairTax would rid us of the need for tax credits or an Internal Revenue Service to ensure they are properly used.