Subject: Tax Reform Proposal - The FairTax Comment: In order to bring about true comprehensive reform of the current income tax system, rather than just cosmetic fixes, we need to realize that the current system is totally flawed and scrap it completely. The best solution proposed thus far is the FairTax, a revenue neutral progressive consumption tax. This system would fix many problems America faces today, to include unfair taxation of the poor, the ever falling savings rate of the American public, the pending Social Security Trust Fund crisis, the horrendous foreign trade deficit we are running, unnecessary environmental pollution, rapidly spiraling costs of higher education, and the outsourcing of manufacturing jobs overseas. In brief, the FairTax would eliminate all federal taxation of income (to include payroll taxes), and replace it with a retail level national consumption tax. A monthly universal rebate would be given to all Americans to prevent regressively taxing the poor. There would be no loopholes, deductions, etc, making this the cleanest, most simple system to understand. This system would only affect federal taxes, and every state would have the option of keeping its current tax structure if it so desired. Enclosed is a brief description of the FairTax proposal, as well as a more detailed file that answers the most common questions regarding the FairTax. Thank you for accepting these comments and please make the FairTax your recommended proposal!! Adam L. Schadt 59 Perry Falls Place Nottingham, MD 21236 Marshal969@yahoo.com |