Fairborn FairTax group

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Comment by Frank Gilbert on January 18, 2012 at 7:49pm

Had a very good time at tonight's monthly meeting here in Fairborn. A dozen of us came together to discuss what we've done so far and ways to advance the FairTax, other tax reform groups, and other items of interest. One really neat topic was the idea of creating a video for You-Tube about the FairTax. Our guest speaker (John Anderson) was not able to make it, but we also discussed his contract with voters, and in particular, item 3, which is all about supporting the FairTax. Something his republican opponent will NOT support.  If you want to learn more about this candidate you can visit his website at www.johnandersonforcongress.com. We also had a local candidate for county commisioner (Bruce Hull) come out to join our group.

Thanks to Roush's for providing us a very nice meeting location, to those who came out, and to our local paper for providing the announcements of our meetings.

Comment by Frank Gilbert on January 13, 2012 at 10:28pm

Just to let anyone know who ventures to my page. Most of my posts may go to the Ohio Group for more coverage. If its just about Fairborn, I'll still post it here. Hope to see some of you out this Wednesday night.

Comment by Frank Gilbert on December 26, 2011 at 7:33pm

Didn't recall seeing this here before. If I'm wrong, my bad. But we need to get behind this folks!

A note from FairTax Regional Director, Phil Hinson:

As most of you are aware, HR 1040 is the only flat tax bill in the House of Representatives, which is where tax reform legislation is supposed to originate in our system of government. I just checked on it and here is what I found.
The bill is now up to 10 co-sponsors. Hr 25 has 66.

... http://thomas.loc.gov/cgi-bin/bdquery/D?d112%3A1%3A.%2Ftemp%2F%7Ebd...|/home/LegislativeData.php|

POPVOX shows 773 votes recorded on the HR 1040 page with 68% opposed. HR 25 has vote a total of 5,276 with 80% in favor. That means that approximately 4,221 voters have registered their support for HR 25, while 248 have voted for HR 1040.

https://www.popvox.com/bills/us/112/hr1040/report#nation
Thanks to everyone who voted for HR 25 on POPVOX in 2011. If you have not yet voted, please do so this week. It only takes a few minutes.

Phil

Comment by Frank Gilbert on December 25, 2011 at 11:20pm

Just sent an e-mail to WIN America asking them to consider using the FairTax as their standard as it is an already established bill (HR25/S13) and has cosponsors in each house, has been well researched, and meets their needs. I also made it clear politely that i expected a response. We'll see what happens.

Comment by Frank Gilbert on December 25, 2011 at 7:51am

Something to share with our liberal friends.

 

Why Democrats Should Love the FairTax
Sunday, February 24, 2008
By: Laurence J. Kotlikoff

Suppose a presidential candidate proposed taxing wealth and using the proceeds to reduce taxes on workers and provide a rebate large enough to cover taxes paid by poor workers.

Such a candidate would be hailed by the left and reviled by the right.

Thus, it’s remarkable that so many Democrats, with the exception of Presidential candidate Mike Gravel, oppose the FairTax and so many Republicans, particularly presidential candidate Mike Huckabee, support it. In fact, the FairTax, which replaces all federal taxes with a federal retail sales tax and provides a rebate, represents a way to tax wealth, reduce taxes on wages, and disproportionately redistribute money to the poor.

A sales tax effectively taxes wealth?

It does. When we buy goods and services with our wealth in a sales tax world, part of the payment goes to sales taxes. So we end up with fewer real goods and services.

Take Megabucks, who’s sitting on $65 million and wants to buy a jet like Oprah’s a 10-passenger, $50 million Global Express XRS. Under the FairTax, the plane costs him an extra $15 million because of the 30 percent sales tax. Megabucks gets the plane, but the extra $15 million, which he’d budgeted for Beluga, Dom Pérignon, and other flight snacks, goes to Uncle Sam.

Now $15 million is 23 percent of $65 million so the FairTax cost Megabucks 23 percent of his wealth. Precisely the same outcome would arise were Uncle Sam to directly tax Megabuck’s $65 million in wealth at a 23 percent rate, leaving him with $50 million to buy the jet at the original price.

What if Megabucks sits and counts his money? With a direct wealth tax Mr. Megabucks pays $15 million immediately and is left with only $50 million in purchasing power. Under the FairTax, Megabuck’s in the same boat. Retail prices rise by 30 percent and Megabucks finds that his $65 million can only buy $50 million in real goods and services; Megabucks has the same number of dollars, but 23 percent less purchasing power.

This equivalence is no coincidence; taxing consumption is mathematically identical to taxing the resources used to buy consumption -- current wealth holdings plus wages as they are earned. The beauty of the FairTax is that taxing wealth at a 23 percent rate generates enough revenue to reduce workers’ marginal tax brackets to 23 percent. This is dramatically lower than the 30 percent to 45 percent marginal tax bracket confronting most workers under our combined income and payroll taxes.

The FairTax sales tax rate isn’t graduated; everyone’s resources get taxed at the same 23 percent effective rate. What makes the FairTax progressive is its rebate. The rebate is a trivial share of the resources of the rich, but 23 percent of the resources of the poor. Since our current tax system is regressive, adopting the FairTax would achieve progressivity.

Our current tax system is regressive because none of the corpus - the principal -- of their wealth of the rich, including our more than 400 billionaires, is subjected to taxation. Instead they pay taxes only on the income earned on their wealth. But this income comes primarily as capital gains, which are taxed at only 15 percent. Furthermore, capital gains taxes are levied only when wealth holders realize their gains -- when they sell their appreciated assets.

But the super rich don’t need to sell their gains. If they need cash they can borrow using their appreciated assets as collateral. When they die, they can hand their heirs their appreciated assets with a step-up in basis, which wipes out prior capital gains. With the right estate planning, they can also avoid most estate and gift taxes. Unlike most of us, what the super wealthy and just plain wealthy pay in taxes is a matter of choice their choice. When Warren Buffet says his tax rate is much lower than his secretary’s, he’s got it right.

So why do so many Democrats think the FairTax is regressive? Because they consider taxes relative to annual income rather than resources, and the former is a terrible proxy for the later. Bill Gate’s income this year may be zero given what’s happening to stocks. If so, a man with over $47 billion in resources will be classified, based on income, as no better off than the homeless. And since Gates consumption is based on his resources, not his current income, the ratio of this “poor” person’s FairTax payments to his income would be sky high. Measuring taxes relative to income will thus suggest regressivity with respect to consumption taxation where none exists.

Our economy needs a simple, transparent, and progressive tax system. The FairTax is the answer. Democrats should give it another look and a fair chance.

Laurence J. Kotlikoff, a professor of economics at Boston University, is an economic adviser to Mike Gravel and a consultant to FairTax.org.

Comment by Frank Gilbert on December 23, 2011 at 9:55pm

Latest FairTax column in the Fairborn Daily Herald by our gifted state director Steve Curtis. Enjoy!

Comment by Frank Gilbert on December 17, 2011 at 10:39pm

Walt Bagley has a great idea.
Phone calls to a Congressional office get answered by one clerk and recorded on a log sheet. That sheet gets looked at to see what areas received the most calls or other activity. It only effects one person in the office for a few seconds. Think about something else.

If you prepare a short letter to the congressperson and FAX it to the office. (still a phone call expense) A clerk in the office must pick up the fax and read through it in order to log it in. Then what do they do with the letter? Pass it along to the tax staff person to respond? If an office is flooded with faxes, someone must refill the paper in the machine, there would be stacks of paper produced to be handled and filed etc. This would create more activity in the office than just making a phone call and maybe get more of an impact.

This is something we could work on here next year folks. Look for it in an upcoming meeting.

Comment by Frank Gilbert on December 16, 2011 at 10:09pm

On 12-15-11 the Fairborn Daily Herald posted state director Steve Curtis latest column "Congress and the FairTax". Well worth the read. The newspaper also published a letter to the editor from Bill Teti (Fairborn resident and FairTax friend) regarding the FairTax. 

12-16-11 the Fairborn Daily Herald has a commentary on the editorial pages by a guy nameof William Rice regarding taxes and the "rich". The title is "the rich don't need a free ride" and may be found on www.otherwords.org WARNING, he is a leftie!!

Lastly, I just want to point out that our local hometown newspaper is continuing to do its job by keeping the tax reform issue alive. Do we know any other paper that is doing this? I sure don't.   

Comment by Frank Gilbert on December 13, 2011 at 8:10pm

Dec. 9, 2011 Fairborn Daily Herald "FairTax Column" by Steve Curtis (state director) was a very timely one. The FairTax and how it could effect our Christmas shopping. Hopefully, its recieved some attention and generated some thinking. Don't forget, you can go to www.ohfairtax.org and see previous columns. Go ahead and use them. That's what they're there for.

The paper was also great about making sure they put in my announcement of no meeting this month because of the Christmas holiday season. Looking forward to January already!

Comment by Frank Gilbert on December 2, 2011 at 9:46pm

Today, in the Fairborn Daily Herald appears my favorite Steve Curtis column. If you don't get the drift here, you aren't ever going to understand the need for the FairTax. Entitled "The Income Tax: Revanue raiser or tool of tyrants", this eye opening column should be shared around the nation. If you'd like to read it (and you really should), go to www.ohfairtax.org in a couple of days and click on "fairtaxfacts" Well worth the time my FairTax friends!!!

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