Business Quote by Neal Boortz
““The FairTax takes current individual taxpayers out of the tax collection and payment business altogether. Just how many people would that be? Try 165 million. That’s 165 million people who at present need to be watched, and perhaps audited, by the IRS to ensure compliance. With the FairTax, we’ll have about 25 million businesses to watch instead of 165 million taxpayers… Further, the states and the feds—at least in the forty-five states that have sales taxes—will be looking at the same companies.””
About This Quote
Source Speech: Radio Talk Show, Neal Boortz, 2005
The FairTax would shift tax responsibility from individuals to businesses, drastically reducing the number of taxpayers the IRS must monitor.
In simple terms: FairTax moves tax burden from people to companies, cutting IRS oversight.
Key Takeaway
Consider the impact of fewer individual taxpayers on enforcement.
Themes
tax policy
government
administration
Mood
analytical
critical
Type
policy
economic
When to use this quote
- business accounting
- IRS enforcement
- policy debate
- public finance
Key Concepts
federal tax reform
compliance burden
Questions to Reflect On
- How would reduced individual monitoring affect tax compliance?
- What challenges could arise for businesses now responsible for tax collection?
A Different Perspective
Implementation may face resistance from entrenched tax interests.
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