Fair Tax Nation

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

How easy is it to fix this economy? I would suggest that it's simple but the answer is not a freindly one in the eyes of the entrenched beaurocrats.

1st step, eliminate all Corp taxes. Understand businesses don't pay taxes, they are merely collectors for the state. A tax levied on a business will show up as a tax to the consumer in the form of higher priced goods. Elimination of these taxes would drive down the real costs of all purchased goods and services.

Eliminate all federal withholdings on Americans paychecks. No more, income, payroll, Medicare, social security, etc.. Give Americans their entire paychecks to stimulate the economy. These taxes will be replaced by a 23% inclusive consumption tax levied only on NEW goods bought at a retail level. This tax will be inserted in place of the 22% embedded taxes that will be removed from Americans business costs. Because of the broadbase, everyone pays upon purchasing new retail goods, this 23% consumption tax will be revenue nuetral and fund the gov at it's current levels.

Within no time, the economy, as measured by GDP will boom. Studies show by the 10th year there will be an 11.3% growth in GDP. A few more things, on top of families recieving their entire paychecks, they will be issued a prebate to cover the basic necessities of life. This tax plan doesn't want Americans paying taxes until passing poverty level spending, making it proggressive enough to satisy the left. Americans should be able to take care of their families before the government. This makes paying taxes truly optional!

Also, one last thing it will increase investing in companies, no more taxing investments. How fast do you think untaxed dollars could grow the American stockmarket? What's this common sense tax plan called. The FairTax!

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Comment by Nancy L. Gatchel on July 12, 2009 at 8:07pm
Good letter.

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