A century of income taxes

David Boone- Daily reader

On Feb. 3 we will observe the hundredth anniversary of the income tax. In 1913, only a very small percentage of wage earners were subject to the tax. As time has gone by, practically all of us have come under expanded provisions, including withholding and payroll taxes. What started so innocuously in 1913 has become a dead weight on our economy.

In an era of sluggish economic activity and depressed federal revenues, Congress is turning a critical eye to the income tax. Right now we have several “fixes” vying for the spotlight, including tweaking the current system, various flat tax plans, Valued Added Tax and the FairTax. The FairTax is the only plan that replaces the income tax.

Congressman Erik Paulsen has a critical role to play in these discussions, sitting as he does on the House Ways and Means Committee, where all tax reform must start. Ask him to support the FairTax and report it out of committee for Congressional debate.