If you are concerned about jobs going overseas
The FairTax fixes it by removing corporate and individual income taxes, as well as capital gains, social security and payroll tax withholding. Overnight the U.S. becomes the most business friendly nation in the world.
Potentially several trillions of dollar denominated overseas accounts would be “repatriated” for investment here.
If you are concerned about the balance of trade…Continue
Added by Dave Boone on June 28, 2011 at 10:18am — No Comments
Under your scenario I would pay into SS according to my spending habits and pull out according to my stated earning habits. Which would be great for me personally since I am a very frugal, self employed person. I would end up making minimum contributions and maximum withdrawals. I get to control both !!
Seems to me that it is against American values to have a non-contributory retirement system.
What has made this country great is our value of personal responsibility. To remove that from the Social Security system - which was a step away from those values - completely seems to be moving us in the direction of socialist europe.
I understand the value of taxing consumption instead of production and belief it to be an admirable goal if not esential in the long term. The Fair Tax does that ! Which is very good.
Two points that I need to understand better are:
First: Don't we need to first pass a Constitutional Amendment against income tax before authorizing a national sales tax. History tells us that if we do not close the door Washington will utilize all revenue…Continue
More than anything, we first need a high profile National spokesperson, like a Sarah Palin, to get our message out to the uninformed general public. What percentage of the voting public do you believe could realistically articulate the principals of the Fair Tax? 10% would be a real stretch as far as I'm concerned.
Remember this is the same country in which 12% of college students in a 2002 poll thought Dick Cheney was a professional baseball player!!! I'd like to think they were…Continue
A few weeks ago, David Tuerck and I co-authored this opinion piece for American Thinker(http://www.americanthinker.com/2011/05/the_political_basis_for_the_fa.html). David is head of the economics department of Suffolk University in Boston and has done much of the foundational research on the FairTax.
One purpose of this article is to advance the flat tax vs. Fairtax debate by…Continue
Tim Pawlenty has just announced a new economic proposal for his campaign. As a fiscally conservative voter, I find the plan refreshing! However, as a Fair Tax supporter, I feel as if I am being shorted. I'm going to attempt to break his plan down and compare each individual part to the Fair Tax.
The main points of Pawlenty's tax plan is as follows:
1. Top business income tax rates would go from 35% to 15%
-One little secret…Continue
Added by Steve Bang on June 6, 2011 at 10:22am — No Comments