Comment: Dear Panel Members, Please consider abolishing the IRS and replacing the income tax with the fair tax (National Sales Tax.) The benefits include: * No more income tax forms to fill out!! * No more IRS snooping into your private financial affairs!! * The elimination of billions of dollars of compliance costs. Individuals and companies spend billions of dollars keeping records, filling out forms, filing forms, etc. to comply with the complicated income tax laws. * Americans would not have to report their intimate financial dealings to the IRS * We would be more competitive with other countries because our exports would not be taxed, making them more affordable overseas. Also, imports sold in the US would be taxed at the same rate as products made here. * People would have more say in how much tax they paid. * There would be fewer lobbyists trying to get special tax deductions like they do now. * People would have more money to spend, which would benefit each individual, and the economy as a whole. * Prices would go down (due to not paying income tax and the associated compliance costs) to partially, or wholly offset the new sales tax. * The tax rate would be simple to see and understand. It would not be hidden in the cost of goods. As you can see, the benefits of the fair tax are numerous. The fair tax is a far superior system of taxation. Please work to eliminate the current income tax system and the IRS, and replace it with the fair tax. Sincerely, Brian Thomson Engineering Manager L. H. Thomson Company, Inc. PS The L. H. Thomson Company is a small manufacturing company. We make high end bicycle components. We are shipping 5,000 handle bar stems, and 14,000 seatposts to Taiwan each year to be installed on new bicycles. We are proof that American manufacturing can be globally competitive. The Fair Tax would help us become even more competitive, and keep even more jobs in this country. |