Subject: Tax alternative Plan (IFTS) Comment: To: President Bush’s Tax Advisory Panel September 1, 2005 For your next panel meeting on September 15th I would recommend that you take action to evaluate my alternative tax proposal entitled “Investment Fee Tax System” IFTS. My proposed alternative to the current tax system will meet all the criteria the President stated as his goals for an alternative taxing approach. IFTS will: 1. Provide “Fair and Balanced” funding of all government operations. 2. Stimulate economic growth; reinvigorate innovation and national infrastructure, including alternative energy, health care, and education, environment, while providing employment and opportunities for all. 3. Ensure that safety, security and civility while national defense is prioritized. 4. Empower citizens to influence national budget expenses and priorities. 5. Create individual wealth for citizens while encouraging participation and responsibilities in encouraging growth initiatives. 6. Be the least invasive, easily implemented taxiing system that is totally constitutionally based, focused and benefiting those who are most affluent yet improving opportunities for every citizen. 7. Practically eliminates the IRS and its burdensome bureaucratic control and compliance dictates. 8. Provide many incentives and reward citizens for responsible citizenship. Please review my proposals on the panel’s Comment #3 posted on June 9, 2005 as: http://comments.taxreformpanel.gov/_files/Requestproposalevaluation6805.doc Thank you for your consideration. I remain available to provide any clarifications or further details to my proposals. Norman D. Melling |