Replace All Federal Taxes on Income with the Fair Tax Act , HR 25

Question about taxation

I have read the fair tax book and have studied economics a little(primarily Austrian School)

Instead of the fair tax wouldn't it be more efficient to eliminate the federal reserve and then have congress issue our currency? We could then print what we needed at the federal level and have the same amount of inflation as we have now. We would no longer be paying interest and borrowing but instead of creating our own fiat currency.

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Permalink Reply by cary henderson on January 27, 2011 at 9:29am

> The object of the FairTax is to replace our tax system with one that is Constitutional, doesn't penalize productivity, is transparent, and will improve our economy. The printing of fiat money whether by our government or the FED is an entirely different issue.

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Permalink Reply by b.romanov on January 27, 2011 at 9:28pm

It is not a different issue they are both connected.

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Permalink Reply by Jamie Wheeler WA on January 28, 2011 at 4:47am

@ b.romanov

I know where you are coming from as I have had this topic brought to me when educating and promoting the FairTax. The deal is that we cannot do EVERYTHING in one bill...that includes the REPEAL of the 16th Amendment, which is "companion legislation upon the passage of the FairTax".

Eliminating the Federal Reserve does NOTHING to our INCOME TAX SYSTEM...is this this "more efficient way" a bill in congress?

Goooo FairTax!!!!

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Permalink Reply by b.romanov on January 31, 2011 at 10:08pm

The problem is not the 16th amendment per say. The problem is that the federal reserve created the need for the 16 amendment. I would rather eliminate all taxation at the federal level.

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Permalink Reply by cary henderson on February 1, 2011 at 8:47pm

I have no love for the crooked banking cartel. But the first step we must take is to take away their oppressive tax mechanism. The FairTax does this. Then Congress should audit the FED fully. If as I suspect they are bankrupt, they should be disbanded. The FairTax is the first step, and that is what this website is all about.