Subject: presidents advisory panel on FEderal Tax reform Comment: On Oct. 11th, the President’s Advisory Panel on Federal Tax Reform Chairman, retired Senator Connie Mack, made it clear that the panel has rejected any form of fundamental tax reform, including a national sales tax, and has opted instead for old fashioned tinkering with the current system. I find this unacceptable and another example of politicians avoiding doing the right thing in favor of taking the easier "do nothing" route. I do NOT agree with this and definitely WANT the FairTax as it is the best possible tax reform. Here are my reasons: The FairTax ends the income tax system, so paycheck-to-paycheck families have no Income tax withheld. Neither do they have to keep records, file returns to get their refunds, hire preparers for complex earned income tax credit (EITC) forms, or defend themselves against EITC-targeted IRS audits. The FairTax allows every family to purchase necessities tax free via a rebate system that exempts all spending up to the poverty level, as determined by the Department of Health and Human Services. The FairTax ends the sham of corporate taxes – the hidden federal costs (corporate income taxes, compliance costs, and payroll taxes) that needlessly inflate the cost of goods by an average of 22 percent and services by an average of 25 percent, according to Dr. Dale Jorgenson of the Harvard Economics Department. Used products are not taxed, allowing these consumers yet another means to reduce their tax burden on spending above the poverty level. The FairTax is a revenue-neutral proposal, raising no more or less tax than the current system. In addition, used products, used cars, homes, etc., are not taxed under this legislation. Only the FairTax honestly and transparently achieves the goal of completely untaxing America’s low-income strata up to the poverty level. I urge all in our nations capital to take a better, fairer look at HR 25 and S25 and let's help our country get back on it's feet with meaningfull legislation, not meaningless politics! Any politician who supports the Fair Tax gets my vote, period! Sincerely, Richard Giambruno 2744 Canopy Oak Ct Chuluota, Florida 32766 407-366-1933 |