Subject: In support of the FairTax Comment: I strongly support the FairTax. The current tax code is broken and lends itself to manipulation for political ends. It also is horribly expensive in the cost of tax compliance, planning and tax preparation for both individuals and business. I believe our economy needs a tax on consumer goods and services rather than income. This will give us a much broader tax base. Without this change Social Security will continue to suffer as the baby boom generation becomes older leaving fewer and fewer working individuals to support Social Security. The federal sales tax with its broader tax base will help in solving this problem. Also, with the removal of corporate taxes, companies who have moved offshore will be motivated to return the the U.S. This will create more jobs and stimulate the economy. People who are part of the current untaxes underground economy will be taxed under the FairTax (everyone buys goods and services) as well as illegal aliens and even tourists from other countries. All of this will create a broader tax base which will stimulate the economy. I do hope the FairTax will be highly recommended by this panel. Thank you for your work. Sincerely, Elmer Smith |