From a friend of ours.. Makes a good point! I am all for the FAIR TAX
Nutz
It's never hard to be under-whelmed by the logic on either side of the Presidential campaign on any issue; however, in today's Pilot
(page 3), both candidates failed miserably to respond with a plan to
lead this country out of the economic mess we're in. It doesn't matter
who caused the meltdown: Wall street tycoons, unscrupulous lenders,
Republicans or Democrats. The issue to be dealt with by the next
president is how do we begin building a solid, bottom-up, economic
recovery? Period. No more moaning or finger pointing!
Nutz
It's never hard to be under-whelmed by the logic on either side of the Presidential campaign on any issue; however, in today's Pilot
(page 3), both candidates failed miserably to respond with a plan to
lead this country out of the economic mess we're in. It doesn't matter
who caused the meltdown: Wall street tycoons, unscrupulous lenders,
Republicans or Democrats. The issue to be dealt with by the next
president is how do we begin building a solid, bottom-up, economic
recovery? Period. No more moaning or finger pointing!
Either candidate could have seized the moment and
proposed the adoption of the FAIR TAX, but neither did. As bad as the
economy is getting, it is going to take a revolutionary idea to fix the
problem. The FAIR TAX would eliminate the IRS, federal personal and
corporate income tax and levy a 22% sales tax on every transaction
involving the purchase of new merchandise or assets. What does this
tax change accomplish?
proposed the adoption of the FAIR TAX, but neither did. As bad as the
economy is getting, it is going to take a revolutionary idea to fix the
problem. The FAIR TAX would eliminate the IRS, federal personal and
corporate income tax and levy a 22% sales tax on every transaction
involving the purchase of new merchandise or assets. What does this
tax change accomplish?
First, we remove the tax consequences of making more money. You "take home" what you make. It's that simple.
Secondly, the FAIR TAX ensures that everyone in the
country is paying his fair share, from illegal immigrants to trust fund
babies. The sales tax is collected at the point of purchase and it
doesn't matter how many tax attorneys or CPA's you can afford, it's
still 22% on all new cars, boats, houses and clothes. How much tax do
you pay on a used car? None.
country is paying his fair share, from illegal immigrants to trust fund
babies. The sales tax is collected at the point of purchase and it
doesn't matter how many tax attorneys or CPA's you can afford, it's
still 22% on all new cars, boats, houses and clothes. How much tax do
you pay on a used car? None.
Thirdly, the FAIR TAX will create a rush by
business owners and wealthy individuals world wide to emigrate to the
US. Why? No personal income tax and no corporate taxes. Will they
bring their businesses with them? You bet. Will those businesses
employ Americans? You bet. Will that cause a rise in real wages?
Yes, and that is exactly what is needed to help solve the problem that
is at the core of the current crisis: the crash in real estate prices
and over-extended personal debt.
business owners and wealthy individuals world wide to emigrate to the
US. Why? No personal income tax and no corporate taxes. Will they
bring their businesses with them? You bet. Will those businesses
employ Americans? You bet. Will that cause a rise in real wages?
Yes, and that is exactly what is needed to help solve the problem that
is at the core of the current crisis: the crash in real estate prices
and over-extended personal debt.
America will have to work itself out of the jam
we're in, but we'll need help to do it. The FAIR TAX is the foundation
on which to build a bottom-up economic recovery!
we're in, but we'll need help to do it. The FAIR TAX is the foundation
on which to build a bottom-up economic recovery!
2 comments:
http://mises.org/story/1814
Why not just get rid of income tax period. There was a short time after the civil war that an income tax was tried and was found unconstitutional. That is until 1913 (same year as the creation of the federal reserve) when the 16th amendment was ratified. We simply don't need to have an income tax.
Yep.. don't need an income tax...
Don't need schools, fire departments, food and drug administration, border patrol, interstate roadways, a federal aviation administration, those air traffic controllers are useless anyway. A military, nuclear regulatory commission an EPA I love dumping oil in my back yard and a whole slew of other services like social security, medicare and a favorite food stamps, provided by our tax dollars.
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