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December 2001 EDITORIAL - by Cory Layne

Your Fair Share?

Last week we kicked off our first marketing campaign to tell everyone we knew about DeTaxUS and what we have to offer our members and affiliates.

One young fellow, who I know is struggling to get his fledgling Internet business into a positive cash flow position, responded with a curt statement,

“hey dude
stop whining.
grow up.
pay your fair share.”

My response to him was a bit more long-winded:

So what is my fair share? What is your fair share?

Do you even know where your income tax money goes?

And why should the government have first dibs on your income anyway?

Why should you have to meet government deadlines or face penalties?

Why should you be held accountable for incorrect advice from the IRS?

Why should you have to fill out numerous forms and maintain volumes of records?

Why should you have to worry about being audited for up to 3 years after you file?

Why should you have to tighten your belt while the government spends uncontrollably?

We're not saying NOT to pay your fair share, but let's base it on something you can control. The wealthy have all kinds of tax shelters and financial strategies to avoid paying high taxes. The working class has few. Though I'd prefer no tax at all, a consumption tax, rather than an income tax, would actually get more from the affluent, who spend a lot, than the middle class who spend less, and the poor would pay next to nothing if food, rent, utilities, education and medical costs were exempt.

The states are already set up to collect sales and use taxes and remit the federal share, as they do now with gas tax and other excise taxes. No paperwork or stress for the taxpayer.

Think about how the income tax affects you. It has nothing to do with whining. It has to do with survival; with personal freedom; with personal privacy.

Check us out. We're on your side. DeTaxUS

=============================

Actually, when it comes to paying one’s fair share, the wealthy, even with all the loopholes and expensive tax attorneys, are paying a disproportionate share of the income taxes (as they would continue to do with a consumption-based tax).

According to IRS data for the 1997 tax year, the top 1% of taxpayers, those with adjusted gross income (AGI) of $250,700 or more, paid 33% of the total income taxes collected for that year.

The top 5% of all taxpayers in 1997, with AGI greater than $108,000, paid 52% of all income taxes.

The top 10%, with AGI over $79,000, paid 63% of the total.

Read that again... The top 10% of all taxpayers paid 63% of the total income tax collected.

The bottom 90% of all taxpayers paid only a 37% share. The bottom 50% paid only 4% of the total federal income tax.

Note: these statistics don't include Social Security or Medicare taxes, only income taxes.

Cory Layne
Editor

P.S. Your comments and suggestions are welcome. We will try to respond to all of them personally and will include a selection of them in future newsletters and on the DeTaxUS website. Mail to: Editor@DeTaxUS.com

P.P.S. Join DeTaxUS and take a stand today at http://www.detaxus.com/


DISCLAIMERS:

The information contained herein is general in nature and is solely the opinion of the author of the editorial. The reader should seek professional guidance prior to taking any action based upon this information. DeTaxUS, Inc. shall have no obligation to inform the reader of any changes in tax laws or other which may affect the information provided.

Copyright© 2001 by Cory Layne
All Rights Reserved. Written permission is required to copy or republish any portion of this document.



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