Subject: S.25 Fairtax Bill Comment: In my opinion, the fairtax bill would be the best way to both simplify the tax code and at the same time, encourage more US manufacturing by eliminating the tax costs included in US products. Also the billions of dollars of compliance costs would go toward more productive purposes, and the incentive to save would be that as long as you don't spend your income, it is not taxed. Some estimates have the US increasing it's GDP by 10% in the period immediately following the enactment of the fairtax. Also, all tourists and immigrants (legal and illegal) coming into the US would pay taxes everytime they bought a good or service! The 300 billion of tax that goes uncollected under our current system would be greatly reduced. There are many more advantages to the fairtax, I refer you to fairtax.org for more illustrations and projections of the many benefits! |