Subject: NRST - The Fair Tax Comment: The information below my name was gleaned from http://www.geocities.com/cmcofer/ft.html. This is what a National Retail Sales Tax as envisioned by Americans for Fair Taxation would do. Please address as many of these benefits as time allows. I really would like each of my eight grandchildren to grow up to enjoy the prosperity this system would give us. Our current system is broken, cannot be fixed, and stifles the American economy. One factor not addressed below is what is called the "pre-bate". It ensures that the poorest among us pay no taxes. Each family would receive from the Government, probably through the Social Security distribution system, an amount equal to the taxes they would pay on goods and services up to the poverty level as determined by the Government. Thanks for your time. Alden H. Ose 4902 14th Street North Arlington, VA 22205 alose@erols.com 703-217-0434 Common Sense plan: Tax what we consume... not what we earn! -------------------------------------------------------------------------------- The FairTax Will: Allow you to keep 100% of your paycheck, pension, and social security pay Reduce the cost of goods and services by 20% to 30%. Dramatically lower tax rates for low and middle-income Americans. Provide a universal rebate so no American pays taxes on necessities. Allow families to save more for home ownership, education and retirement. Free up time wasted on filling out cumbersome IRS forms. Raise the same amount of money for the federal government. ("revenue neutral") Repeal corporate & self-employment taxes and estate, gift & capital gains taxes. Apply a 23% tax-inclusive rate on purchase of New goods & services in USA. No tax on Used goods or Education expenditures. Make American products more competitive with imports and for sale overseas. Boost job creation and manufacturing in the USA. Protect and ensure the funding of Social Security and Medicare. Eliminate the Internal Revenue Service. -------------------------------------------------------------------------------- Also, Congress will initiate H.J. Res 61 which (upon ratification) makes taxation of income unconstitutional by repealing the 16th amendment. No more filing of Tax Returns. April 15th becomes just another nice Spring Day! |