Replace All Federal Taxes on Income with the Fair Tax Act , HR 25
My Letter Today to the House Way and Means Committed
I faxed the following letter today to each member of the House Ways and Means Committee. I would like to thank NJ-08 Director Tom Freeman for providing the spreadsheet that permitted me to merge-print the letter.
~Jim
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Re: Stimulus/Fair Tax
Dear Congressman/Congresswoman [name of member of congress]
When the stimulus bill, S.1, comes back to your Ways and Means Committee for reconciliation with HR.1, please consider substituting the Fair Tax, HR.25 its place.
The Fair Tax dwarfs any stimulus provided by HR.1 by making the United States the world's tax haven and by repatriating over $12 Trillion offshore dollars in a matter of months - without spending a dime of public money. The Fair Tax, furthermore, does not require any additional dollars of public debt to be financed by unstable and unfriendly sources such as the Oil States, the Chinese and the Japanese, as would HR.1. Under HR.1 there is a genuine worry that these lenders, some day, will not want to continue financing the United States deficit. The options then would be most unpleasant. If the Treasury prints money to avoid yet greater economic problems, the United States could go the way of the Confederacy and the Weimar Republic.
The Fair Tax makes structural changes to the economy that HR.1 fails to do. Under the Fair Tax thrift, effort and productivity are rewarded, not punished as they are by today's Tax Code and by HR.1. The Fair Tax is the only tax, existing or proposed, that meets all four objectives of tax policy: efficacy, transparency, economic growth, and fairness.
Reject HR.1 and substitute HR.25, the Fair Tax, in its place.
Sincerely,
James M. Bennett
~Jim
-------------------
Re: Stimulus/Fair Tax
Dear Congressman/Congresswoman [name of member of congress]
When the stimulus bill, S.1, comes back to your Ways and Means Committee for reconciliation with HR.1, please consider substituting the Fair Tax, HR.25 its place.
The Fair Tax dwarfs any stimulus provided by HR.1 by making the United States the world's tax haven and by repatriating over $12 Trillion offshore dollars in a matter of months - without spending a dime of public money. The Fair Tax, furthermore, does not require any additional dollars of public debt to be financed by unstable and unfriendly sources such as the Oil States, the Chinese and the Japanese, as would HR.1. Under HR.1 there is a genuine worry that these lenders, some day, will not want to continue financing the United States deficit. The options then would be most unpleasant. If the Treasury prints money to avoid yet greater economic problems, the United States could go the way of the Confederacy and the Weimar Republic.
The Fair Tax makes structural changes to the economy that HR.1 fails to do. Under the Fair Tax thrift, effort and productivity are rewarded, not punished as they are by today's Tax Code and by HR.1. The Fair Tax is the only tax, existing or proposed, that meets all four objectives of tax policy: efficacy, transparency, economic growth, and fairness.
Reject HR.1 and substitute HR.25, the Fair Tax, in its place.
Sincerely,
James M. Bennett
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