There is no doubt that Obamacare is doomed to failure. Every day, more people are turning against it, as its myriad unworkable and often oppressive intricacies are revealed, along with its ungainly burden on taxpayers. But even so, the complete collapse of Obamacare could take several years, cost thousands or even millions of lives and cause many otherwise profitable businesses to close their doors. But there is a solution to this problem and it's already a bill in both houses of Congress.
The FairTax (HR-25 and S-122), besides fixing everything that's wrong with our current tax code, would remove the teeth from the worst part of Obamacare – the "Individual Mandate." You see, the enforcement arm of Obamacare is the IRS. But under the FairTax, the IRS is dissolved.
Title I — Repeal Of The Income Tax, Payroll Taxes, and Estate and Gift Taxes
Sec. 101 — Income Taxes Repealed.
Sec. 102 — Payroll Taxes Repealed.
Sec. 103 — Estate And Gift Taxes Repealed.
But to go even further, the FairTax requires the destruction of all personal records held by the IRS, except those required to calculate Social Security benefits.
Title III, Sec 301(b) RECORDS. — Federal records related to the administration of taxes repealed by title I of this Act shall be destroyed by the end of fiscal year 2017, except that any records necessary to calculate Social Security benefits shall be retained by the Social Security Administration and any records necessary to support ongoing litigation with respect to taxes owed or refunds due shall be retained until final disposition of such litigation.
Under the FairTax, federal tax collectors would deal only with the 50 state tax collection agencies. Those state agencies would, in turn, deal only with retail businesses. This means that there would be no revenue agency of any kind that would deal with individuals or non-retail businesses. The "Individual Mandate" would be effectively unenforceable.
Although the FairTax would not eliminate Obamacare, it's a safe bet that without the IRS as the agency responsible for enforcing the individual mandate, the mandate and indeed, the whole bill would be toothless and it's requirements would become mere suggestions that most individuals and businesses would ignore.
Furthermore, now that the public understands the threat of the "Individual Mandate", there is little chance that voters would allow their congressmen to re-introduce it for enforcement in some other way. It would never pass the House.
The FairTax would take the teeth from Obamacare and it's now awaiting hearing in the House Ways and Means Committee and the Senate Finance Committee. So if your congressman or senator is on one of those committees, urge him to press to get it passed to the floor, for a vote. Also make sure to let them know that you expect them to co-sponsor the FairTax if they don't already. Of course, if they do, then thank them.
The FairTax solves many more problems than just taxes.
Comments