The topic on tax always seems to be the most difficult for me. I feel
like there is endless information that needs to be known and followed
when discussing tax. Therefore, at the moment and in the module
sections is was good to be able to dive into the meanings behind tax
and why they are done the way they are. I love that there are endless
resources to use when the tax topic is brought up. Using the
resources is what and how I got through this course and the previous
tax course I had to take. I have friends who reach out to me now
asking for tax advise and i inform them I am the last person so give
any type of tax advise I would recommend going to see a tax
professional.
I feel like the tax protocol changes all the time therefore, I do believe
congress should consider other approaches. I feel like if they do this
and keep up with the times and the technology it is important. I am
sure that the Fair Tax Act and those alike benefit a certain tax group
and will always do so. I believe that taxes should be based on the
income being brought to the table. "[The Fair Tax Act] would allow
the nation’s wealthiest families to accumulate even greater
intergenerational wealth, thereby widening the nation’s already
sizable wealth gap" (Ross 2023 p2). I believe this statement right here
and the "plan" congress has on making this a thing is very unfair to the
people that work day in and day out to provide for their families. If
everyone was expected to pay the same percentage from their yearly
salary then it would be more "fair" to everyone. Rather than making
the "wealthy wealthier." This "plan" only seems to benefit the wealthy
that is already wealthy, so no, there is no benefits for everyone.
Ross, J. (2021, November 17).
The 'fair tax' act would radically
restructure the nation's tax system in favor of the wealthy
. Center for
American Progress. Retrieved April 6, 2023, from
https://www.americanprogress.org/article/the-fair-tax-act-would-
radically-restructure-the-nations-tax-system-in-favor-of-the-
wealthy/
