This morning during my “wake up & write something” time I try to have, I was inspired to encourage my elected representatives to support the most major item I really want passed above all others: The FairTax.
Below is basically the letter I sent to my two senators and representative. HR/SR 25 has been reintroduced and has more so-sponsors then ever.
Congressman/Senator & whoever really reads this,
I want to encourage you to support a real change, a real system and plan that will help our economic wows. HR25/SR25, the FairTax, will do more to achieve your stated goals of economic prosperity in this country, and a better job of supercharging our economy so that the tax revenue will be so large that even we can even fix the Social Security issue.
The general reason that the FairTax being passed is better then printing another 1.3 Trillion dollars, causing major inflation, is that there are roughly 13 Trillion Eurodollars, those are US dollars that are overseas.
The only real government solution to “fix” the economy is to eliminate the bad incentives that are set in place by government. The current system taxes labor, theFairTax would not. Basically the tax would be shifted to the proper, or more desired point … when a sale is made.
Tennessee is not a perfect example because it does not have a prebate and there is still the federal income tax due, but you can see what has happened. Tennessee is where a huge number of corporations have moved their USA headquarters. When economic times are rough across the USA, they can be rough in TN, but not nearly as bad as states that are dependent on income, Tennessee is not pushing for a bailout (and if they are, I encourage you to not give them one).
Please co-sponsor HR25/SR25 today. If you need more info: http://www.fairtax.org or pick up one of the FairTax books
Update 10:40 am :
After listening to a speech by Mr. Obama, and getting really frustrated, I noticed another document on FairTax.org titled “FairTax Versus Obama Tax Plan“.
It is interesting looking back Obama’s stated economic goals:
- Cut taxes for 95 percent of workers and their families with a tax cut of $500 for workers or $1,000 for working couples.
- Provide generous tax cuts for low- and middle-income seniors, homeowners, the uninsured, and families sending a child to college or looking to save and accumulate wealth.
- Eliminate capital gains taxes for small businesses, cut corporate taxes for firms that invest and create jobs in the United States, and provide tax credits to reduce the cost of healthcare and to reward investments in innovation.
- Dramatically simplify taxes by consolidating existing tax credits, eliminating the need for millions of senior citizens to file tax forms, and enabling as many as 40 million middle-class Americans to do their own taxes in less than five minutes without an accountant.
Now, can you see the differances between his “goals” and his “plan”?
