Subject: Tax Reform Comment: Ladies and Gentlemen, It is my understanding that you would like comments from the general public on ways to reform the way taxes are collected. In my opinion, the best way to change the way taxes are collected would be to go to a consumption based tax. HR-25 and S-25 (the Fairtax) would address this. Just recently the stock of Ford and General Motors was reduced to junk bond status. One of the reasons for this is because they cannot compete with companies such as Nissan, Toyota, BMW, and Daimler-Chrysler. The embedded taxes that are passed on to consumers are much higher for domestic produced cars than those of their foreign competitors. This just doesn't seem right to me. This is also the reason there are so many companies in my state moving their production to foreign soil. It is my belief the country would actually have to import workers to fill the jobs created by having a consumption tax instead of an income tax. Another reason a consumption tax would be good for our economy, just look at how many undocumented foreign workers and underground economists do not pay any taxes at all. Respectfully yours, Larry Donaldson 301 Spring St. Darlington, SC 29532 843-393-7499 |