Subject: FairTax is Far Superior! Comment: I can't think of a SINGLE reason every single one of you should rationally and enthusiastically support the Fair Tax (HR25/S25) The reasons are too innumerable to detail here, but I will condense: The revenue-neutral rate of 23% has been researched and run through all kinds of tests, etc by economists and experts. tom Wright has volumes of supporting study and documentation offered up for the panel to study. This rate is NOT too high since when embedded taxes under the present system disappear, then the base price reduces by about the same % thus making the cost almost a wash. People would be paying for this with their monthly rebates at the poverty level, plus they'll have their entire gross paychecks to make purchases with. It will encourage savings and homeownership as well as fueling our econmy at an estimated up to 10% GDP growth the first year alone! We would become much more competitive overseas since we would not have to price airplanes, automobiles, etc with embedded income taxes, making us a virtual magnet for attracting companies back from overseas. It would NOT be difficult to implement since 45 states already collect sales taxes. The other 5 could easily adjust. Both the states and the retailers who collect would each be given .5 % as an added perk. The number of tax filers would drop by 90%, and the majority of these collecting the tax on a retail level would be the larger retailers who would find it very difficult to cheat. The present IRS officials who collect would find it infinitely easier to hunt out cheats from a 90% reduced base. A great deal of wealth would begin in this country and this wealth would create more strength for us all. If we try ANY type of hybrid nonsense like a flat tax with a VAT it would be a total disaster. You MUST not, under any circumstance, do this. It has Wrecked Europe. Lastly, our plan would fund medicare and SS at the present levels, thus solving those problems by transferring the funding of these accounts from demographic problems we are facing now (less workers paying out more retirees). Just think about this. This system HAS succeeded before--in England after the Napoleonic Wars--and their economy exploded! The only reason it was replaced by an income tax was because of class warfare and the desire of politicialns for power. I URGE you to be courageous about considering this move. I'm convinced that it could literally save this country's life--providing growth, wealth, strength, transparency and total fairness for every citizen. The FairTax would solve social problems and create a fair, non-oppressive taxation system that Anyone would be willing to pay. |