TX House Member Ron Paul [R] and FL House Member Jeff Miller [R] proposed on Feb 7th “to abolishing personal income, estate, and gift taxes and prohibiting the United States Government from engaging in business in competition with its citizens.”
Since the income tax as we know it is only about a centiry old (the 16th amendment was proposed in 1909 ratified in 1913), this bill will basically be putting everyone back to the old (and I do mean old) tax system where Federal taxes are 2% of your income, regardless of dependants, student status, or income (the rich often get massive tax breaks). This would be really great since I really dont like paying half of my earnings to the government. Contact you local state rep so push this bill.
I wish the bill would pass for financial reasons but I do not think there is anyway possible this will actually get approved!
Yea, I know. It will probably die long before it gets put to a vote, but its a good idea. Maybe one day it will actually stick.