The key to putting Americans back to work is investment. Removing
capital gains, corporate income tax, individual income tax, and taxes on
savings and education would free up massive capital for investment. It
is estimated somewhere between 10 and 15 trillion dollars would come
back to the U.S. from the offshore accounts which were set up in the
first place to avoid taxes. Now that’s stimulus you can believe in,
and the beauty is that it would be private money. The role of the
government in that case would be to “get out of the way”!
Under the FairTax, individuals would determine with each purchase
when, and how much tax they would pay. Because of the “prebate” no one
would be taxed on living necessities. Instead of 1040s and worse, your
tax gets collected (and spelled out transparently) with each register
receipt. Done deal! The IRS would shrivel to a ghost of its former
self. It’s been said that the FairTax would be the greatest return of
freedom to the American people since the country began.
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