Subject: Go with the Fair Tax! Comment: I AM in support of is the "Fair Tax" consumption tax (http://www.fairtax.org). It would not reduce taxes on wealthier Americans or increase the federal deficit. It WOULD provide Americans the ability to control their own taxation by controlling their spending. It WOULD also encourage savings, which spurs the economy. Since it also provides a "prebate" on taxes up to the poverty level it will also allow the poorest in America to pay NO TAXES. Many economists, including Federal Reserve Chairman Alan Greenspan have concluded that the "Fair Tax" will promote growth in the United States economy and will also bolster the United States position in world markets by allowing companies in the United States to market their products more cheaply because of the elimination of corporate taxes that are passed on to the consumer in the price of products. This will mean a reduction in trade deficits in the United States as products here become more reasonably priced compared to the subsidized prices of other nations. The current system is actually extremely unfair and hinders economic growth in the United States. The Fair Tax is the only system that levels the playing field for companies and for individuals in the United States and puts the power of taxation back in the hands of those paying the taxes. |