Pay No Tax For Two Months?

I received this article today from my wife [DeLeesa], she seems to think it might have merit.  Although I agree with her that the idea does have merit. I am concerned with how it actually would work.

First, I am sure that larger companies are not able to modify their payroll systems for just 2 months, I am also concerned about how the IRS would handle this, given the current tax code, I estimate that it would take the IRS at least 6 months (and that is being generous) to define the rules for estimated taxes and at least a year or more to implement them.

Which means that even in the best of times (which we all know is not the case here), it would be at least 2 years before any of us would see a dime.

Although I like how Mr. Gohmort thinks, I am concerned that even if his plan was to gain momentum in Committee, that Ms. Pelosi would never let it reach the floor, let alone make it over to Mr. Reid's domain.

To allow a 2 Month Tax Holiday would in my opinion do the following:

  • Lift the wool over the eyes of the average citizen when it comes to their return on investment on taxes.
  • Give the average citizen the notion that more economic freedom is a good thing, something the government doesn't want.
  • Relinquish the control over social engineering tax by allowing workings 100% control of their effort, another thing the government would not want.
  • And lastly, to show the average citizen how incredibly convoluted the tax code is and in the process, show how a Fair Tax system might actually work, another thing that the majority in Congress would not support.

I wish Mr. Gohmert luck in his endeavors, I just have my misgivings as to whether or not he will succeed.  Regardless though, it's definitely better than another, destined to fail bail-out in my book.

Pay No Tax For Two Months? – HUMAN EVENTS

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James A. Restucci is the author of this blog. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 Internal License.

2 Responses to Pay No Tax For Two Months?

  1. AvatarJason Raines says:

    I agree that passing something like this is unlikely with a Democrat Congress and President. However, why stop at just two months? Why not get rid of Federal withholding altogether and let people see what their tax bill is once a year?! I’m thinking a taxpayer revolt would bring DC to its knees if that happened. No way the current crowd would ever give up the control they now enjoy over our regular paychecks.

  2. AvatarLeland says:

    As good as that sounds, there is no chance it will pass for several reasons.

    -Congress would be giving up revenue. Revenue equals money and money equals power.

    -President Obama would never sign it unless there was a upper end cap on the income level. (God forbid the rich get a tax break.)

    -There is no way that anyone in congress is going to allow a two month hiatus in income to the FICA accounts.

    But I like the way he thinks.