Replace All Federal Taxes on Income with the Fair Tax Act , HR 25
Housing is not the basis of our economic problems... Loss of our Manufacturing/Industrial base is.
I keep hearing that housing got us into this mess. This is simply not true. Housing is a big part of the problem but loss of our industrial/manufacturing base is the real core of our economic woes.
Think about it. Why did the government create the housing bubble? Because we can’t import houses from Asia and drop them onto lots here in the U.S. We cannot say the same for manufacturing which has, in fact, moved largely away from our lands. Why? Because we have an unfriendly business environment that is just too costly to do business in.
High (unionized) labor costs, over-regulation, over-taxations … All of this adds to the cost of goods sold at every level of the supply chain from raw materials extraction through component building, finished goods assembly, and right to the retail shelf. We have lost jobs and prosperity due to this unfriendly environment. So, what does the government do? It props up sectors that can’t be shipped overseas… housing and the financial sectors.
The FairTax fixes the over-taxation aspect of our economic woes. The FairTax completely eliminates Corporate Taxes and Payroll Taxes which instantly reduces the price-point to profit at every level of the supply chain. U.S.-made products will arrive on retail shelves completely untaxed – like imported competition does today. The FairTax adds a 23% national retail sales tax to domestically and foreign goods equally which makes our products more competitive.
A healthy manufacturing/industrial base is the basis for everything else - housing, medical, technology , finance, etc. Lack of a healthy manufacturing/industrial base grows our trade imbalance and limits our national and economic security.
Again, the FairTax is a big part of the solution.
Think about it. Why did the government create the housing bubble? Because we can’t import houses from Asia and drop them onto lots here in the U.S. We cannot say the same for manufacturing which has, in fact, moved largely away from our lands. Why? Because we have an unfriendly business environment that is just too costly to do business in.
High (unionized) labor costs, over-regulation, over-taxations … All of this adds to the cost of goods sold at every level of the supply chain from raw materials extraction through component building, finished goods assembly, and right to the retail shelf. We have lost jobs and prosperity due to this unfriendly environment. So, what does the government do? It props up sectors that can’t be shipped overseas… housing and the financial sectors.
The FairTax fixes the over-taxation aspect of our economic woes. The FairTax completely eliminates Corporate Taxes and Payroll Taxes which instantly reduces the price-point to profit at every level of the supply chain. U.S.-made products will arrive on retail shelves completely untaxed – like imported competition does today. The FairTax adds a 23% national retail sales tax to domestically and foreign goods equally which makes our products more competitive.
A healthy manufacturing/industrial base is the basis for everything else - housing, medical, technology , finance, etc. Lack of a healthy manufacturing/industrial base grows our trade imbalance and limits our national and economic security.
Again, the FairTax is a big part of the solution.
Comment
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Comment by Fla Vol on February 18, 2009 at 10:06pm
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I found your comments interesting. I would like to add the basis of jobs and wealth.
When the feds fix a bridge they are not creating a sustainable job. When the bridge is fixed the job ends. When an entrepreneur creates a product that sells he or she create jobs that continue for years. That is job creation. JFK, Reagan and Bush used tax incentives to encourage investors to create jobs. When was the last time your city or state gave some breaks to a company to come to their location because they would stimulate job growth? It was not called a tax break for the rich was it? Even your liberal papers promoted it.
Now, when you lend me money to build windmills and I save electricity and pay you back we have moved money around but we have not produced wealth. When we give an incentive to the entrepreneur to build a product and that product is exported we are building wealth in our nation. It is not just moving money around.
So you see, I agree with you and I am just clarifying some issues so others can understand the huge impact the Fair Tax would have on our economy when creative people from around the world come to the USA for the best tax treatment and create wealth beyond our imagination.
The people advising Ford, GM and Chrysler make big bucks for showing them how to reduce their taxes. The result is these advisors give the CEO's bum information.
Please keep doing what you are doing so everyone knows the truth.
Stew
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Comment by Raymond Chuang on February 17, 2009 at 6:37am
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In my opinion, I'm surprised both the Big Three automakers and the UAW aren't in front pushing for FairTax.
Under FairTax, the automakers would ENORMOUSLY prosper, mostly because there would be no more taxes on earning money. That right there means Ford, GM and Chrysler will have much less incentive to "offshore" both corporate and manufacturing operations, and that means less need to drastically downsize just to reduce the tax burden, saving potentially hundreds of thousands of jobs. Indeed, if we had FairTax in place the upcoming 2011 Ford Fiesta would be built in the USA, not in Mexico as currently planned.
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