Just about everyone can agree that our current tax system is overly complex, too long and discourages productivity. The way our tax scale is structured, American's are often times discouraged from obtaining a raise or promotion, as they will end up paying a greater percentage of their income to the federal government, and many times taking home less money as a result. The system also places a heavy burden on middle and lower class families, as their wages are not increasing to match inflation. So, Americans have less and less money to live on.
There are two ways to attempt to tackle this problem. Either a "fair tax" where consumer goods are taxed, not your income or a "flat tax" where everyone pays the same percentage with no exemptions/deductions. Both have their individual benefits, with few negatives. Either solution would solve many of the inequities within our system, and would greatly benefit the quality of life for the middle/lower classes.
Personally, I support the "Fair Tax" method out of both solutions, however were a flat tax proposed, I would vote in support of it. The Fair Tax is a sales tax that would only be applied to non-essential items. Food, utilities and other essential items would be untaxed, as well as your income. This would greatly support lower income families who have a hard time paying for life's essentials, as their entire income would come home. This would also free up a large portion of our budget in the form of reduced safety net programs, as those lower income families would no longer require government assistance to survive.
Furthermore, because non-essential consumer items would have a high tax on them, it would discourage wasteful spending and instead encourage saving. As many conservative economists will tell you, consumer spending may drive growth in the short-term, but it has a net negative effect on economic growth and drives inflation. The best way to ensure steady economic growth is through saving and investing. Not only do savings and investment push sustained economic growth, but it also provides American families with a more secure financial future. Most American's today cannot survive an unexpected $500 expense, however if saving were encouraged, the number of families that could weather unexpected expenses would continue to grow, further dwindling the need for safety nets and put less emphasis on retirement/end of life programs like Social Security and Medicare.
One additional benefit both financial and political, is that the Fair Tax system would completely end the need for the IRS, saving the government buckets of cash and preventing the tax code from being used against political opponents.
For more information on the Fair Tax program, visit their website at: https://fairtax.org/about/how-fairtax-works or search Fair Tax on youtube to see many different videos explaining the Prebate system, and its effects on the economy.