Posts
Fair Tax
Senator Christopher Bond
United States Senate
274 Russell Senate Office Building
Washington, DC 20510-0001
Dear Senator Bond,
Every year, American taxpayers dread the federal income tax filing process; the endless forms and paperwork, the cumbersome rules and byzantine changes. It's time to say, "Enough already!"
As a voting constituent of yours, I support a viable and smart alternative, the FairTax, and would suggest you consider this proposal as well. The FairTax is better for everyone: Citizens, businesses, and most of all our economy, which would be unshackled from the endless volumes of regulations and rules that comprise our federal tax code today.
I urge you to consider a tax change for the better of all Americans:
The FairTax. This tax reform plan is embodied in H.R. 25, which already has 61 co-sponsors, and S. 1025. The taxpaying public - individuals, farmers, schoolteachers, seniors, small business owners, and others - will thank you for it.
Thank you for your consideration.
The above is a sample letter I encourage everyone to send to their elected officials. More can be found at Fairtax.org.
2 comments:
Here is why the FairTax MUST replace the income tax. The FairTax is:
• SIMPLE, easy to understand
• EFFICIENT, inexpensive to comply with and doesn't cause less-than-optimal business decisions for tax minimization purposes
• FAIR, loophole free and everyone pays their share
• LOW TAX RATE, achieved by broad base with no exclusions
• PREDICTABLE, doesn't change, so financial planning is possible
• UNINTRUSIVE, doesn't intrude into our personal affairs or limit our liberty
• VISIBLE, not hidden from the public in tax-inflated prices or otherwise
• PRODUCTIVE, rewards, rather than penalizes, work and productivity
Its benefits are as follows:
FOR INDIVIDUALS:
• No more tax on income - make as much as you wish
• You receive your full paycheck - no more deductions
• You pay the tax when you buy "at retail" - not "used"
• No more double taxation (e.g. like on current Capital Gains)
• Reduction of "pre-FairTaxed" retail prices by 20%-30%
• Adding back 29.9% FairTax maintains current price levels
• FairTax would constitute 23% portion of new prices
• Every household receives a monthly check, or "pre-bate"
• "Prebate" is "advance payback" for monthly consumption to poverty level
• FairTax's "prebate" ensures progressivity, poverty protection
• Finally, citizens are knowledgeable of what their tax IS
• Elimination of "parasitic" Income Tax industry
• NO MORE IRS. NO MORE FILING OF TAX RETURNS by individuals
• Those possessing illicit forms of income will ALSO pay the FairTax
• Households have more disposable income to purchase goods
• Savings is bolstered with reduction of interest rates
FOR BUSINESSES:
• Corporate income and payroll taxes revoked under FairTax
• Business compensated for collecting tax at "cash register"
• No more tax-related lawyers, lobbyists on company payrolls
• No more embedded (hidden) income/payroll taxes in prices
• Reduced costs. Competition - not tax policy - drives prices
• Off-shore "tax haven" headquarters can now return to U.S
• No more "tax code favors" from politicians at expense of taxpayers
• Resources go to R&D and study of competition - not taxes
• Marketplace distortions eliminated for fair competition
• US exports increase their share of foreign markets
FOR THE COUNTRY:
• 7% - 13% economic growth projected in the first year of the FairTax
• Jobs return to the U.S.
• Foreign corporations "set up shop" in the U.S.
• Tax system trends are corrected to "enlarge the pie"
• Larger economic "pie," means thinner tax rate "slices"
• Initial 23% portion of price is pressured downward as "pie"
increases
• No more "closed door" tax deals by politicians and business
• FairTax sets new global standard. Other countries will follow
While many vested interests are motivated to demagog this well-researched plan, those who want to become part of the solution can start here: http://snipr.com/ftnow
Demand TRUE tax reform of your representatives in Congress: http://snipr.com/scrapthecode
Sounds good...do you have an links?
Post a Comment