It’s that time of year again when taxpayers perform the laborious chore of filing tax returns. However, there is an alternative which has been gaining momentum: the FairTax.

The FairTax would replace the income, payroll, estate, capital gains and corporate taxes with a progressive, national retail sales tax, and offer a rebate to households below the poverty level. Further, it would be levied only on the final sale of newly produced goods or services.

Why is this tax plan better?

The current system is widely seen as unfair, complex, wasteful and costly. We’re spending billions of dollars annually just to comply with 54,000 pages of tax code. Plus, the U.S. is losing billions of dollars in tax revenue from people who hide behind tax shelters and offshore accounts.

The FairTax is revenue neutral, meaning it would raise the same amount of tax revenue as taxes in effect today and wouldn’t affect Social Security or Medicare. Even better, you would be able to keep 100 percent of your paycheck. Imagine that. No more IRS.

More importantly, the FairTax would lead to higher rates of economic growth and productivity and create more jobs in the U.S. American products wouldn’t be hampered by regressive taxes that raise the costs of exports.

It would level the playing field with foreign competitors and keep businesses from moving abroad.

The FairTax has been endorsed by many prominent economists, business leaders and politicians.

This tax plan just makes more sense.

Kevin Landry, Lewiston