Eliminating The Federal Income Tax

by Wendy Valencia⁽¹⁾
Horizon Star, Inc

I want you to know that although the FairTax would eliminate the income tax by replacing it with a national sales tax, it is only one option to eliminating the income tax.

Eliminating the income tax is far better than replacing it, right? There is at least one man who agrees with that statement. Ron Paul (R-TX) has been called the "Taxpayer's Best Friend."

Ron Paul is a Republican Congressman from Texas's 14th district, as well as a physician, best-selling author, and former 2008 Presidential candidate. Ron Paul run for the Republican nomination garnered support from both sides of the political aisle as he was quick to critique his own party as well as the Democratic Party for their shortcomings. Ron Paul is described as a conservative, constitutionalist, and libertarian.

Ron Paul has NEVER voted for a tax increase, a budget deficit, a pay raise, and even rejecting a Congressional pension! Ron Paul advocates limiting government spending, specifically scaling it back to 2000 spending levels. At that rate, there would be no need for the income tax and it could be completely abolished with absolutely nothing to replace it. Imagine a world where you keep 100% of what you earn!

In addition, Ron Paul is opposes the IRS as well as the Federal Reserve, which he says is responsible for the boom-and-bust economy (including the Great Depression) since 1913. Paul would rather have a free market economy with sound monetary policy.

Paul claims that the Federal Reserve is causing inflation instead of containing it. Paul advocates sound monetary policy in the form of "hard money" by re-establishing the gold standard or some version of specie currency. Paul claims that fiat money causes unnecessary inflation, which leads to the "inflation tax." The inflation tax causes cash money held by everyone to lose value, but it affects the lower and middle-income class more.

Ron Paul has challenged two Federal Reserve chairman Alan Greenspan and Ben Bernanke. In his 2007 memoirs, Greenspan states that he does in fact agree with Ron Paul on the benefits of hard money policies.

Although Paul would prefer to abolish income tax, he has stated that he would be willing to replace it with a national sales tax (either the FairTax or something akin to it) if government spending could not be reduced enough to fully eliminate the need for income tax.

In either case, Ron Paul is a strong advocate for taxpayers and truly is the taxpayer's best friend.

Article submitted Tuesday, August 05, 2008 & read 92 times.

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» left by straight talk (3 years 186 days ago.)

Yes I made a comment below - fair tax but when you speak of corporations, big business, the wealthy, just when does fair ever come in? We all know better then that. Great article. I'm all for a fair tax when it becomes fair.
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» left by Dan Valencia (3 years 185 days ago.)

How is a progressive income tax fair? You tax people who make more money at a higher rate. It is the "rich people" in society that set up foundations, charities, and are able to donate their time and money to fight poverty and other social ills. By creating a dis-incentive for people to make money in America (by taxing them at a higher rate) you create an incentive for these "corporations, big business, [and] the wealthy" to outsource. I think America needs to rethink its economic policy of "tax and spend."
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