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McCook Gazette
Letter to the Editor

Support Fair Tax

Friday, August 17, 2012

Dear Editor,

Fellow Americans, there's been a proposal before Congress for over a decade that would put America on track to a swift and permanent economic recovery. Congress won't pass it unless we demand it. Its adoption would drastically reduce elected politicians' power and control over US citizens. It's called the Fair Tax.

Adoption of the Fair Tax would (1) do away with the IRS, (2) put American businesses on a level playing field with their global competition, (3) ensure those living below the poverty level pay no taxes, (4) bring both capital and jobs back to America, (5) ensure everyone pays their fair share including tourists and those in the country illegally and (6) result in an economic boom.

From page 106 of The Fair Tax Book: "Economists estimate that in the first year after the Fair Tax Act becomes law, the economy will grow 10.5 percent. Exports will grow by 26 percent. Capital spending will increase by more than 70 percent."

Every candidate running for congressional office must be asked about their support of the Fair Tax at every opportunity; Town Hall meetings, public appearances and every debate. Read the book, push hard and the Fair Tax could be adopted soon.

Submitted by:

Glen Terrell

Arlington, Texas

ggeett37@gmail.com

Comments
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  • Glen

    I think the reason legislation (H.R. 25) was never passed on the FAIR tax was due to the sponsors and cosponsors not being able to prove the assertions ( applicable tax rate) contained in the proposed legislation.

    Following is a summary quote from FactCheck.org dated May 31, 2007 discussing their take on the FAIR tax issue:

    "In our recent article on the second GOP debate, we called out Gov. Mike Huckabee as well as Reps. Tom Tancredo and Duncan Hunter for their support of the FairTax. We wrote that the bipartisan Advisory Panel on Tax Reform had "calculated that a sales tax would have to be set at 34 percent of retail sales prices to bring in the same revenue as the taxes it would replace, meaning that an automobile with a retail price of $10,000 would cost $13,400 including the new sales tax." A number of readers pointed out that H.R. 25, the specific bill mentioned by Gov. Huckabee, calls for a 23 percent retail sales tax and not the 34 percent used by the Advisory Panel on Tax Reform. That 23 percent number, however, is misleading and based on some extremely optimistic assumptions. We found that while there are several good economic arguments for the FairTax, unless you earn more than $200,000 per year, fairness is not one of them."

    Their article contains links to all reference sources used for their analysis.

    http://www.factcheck.org/taxes/unspinning_the_fairtax.html

    The main concern I had was how prospective new home buyers would be able to overcome a new sales tax that could equal as much as a third or more of the purchase price. How would that impact the housing market -- or how would existing renters overcome a 30+% increase in their rent payment? Another concern would be how it would influence elderly folks on fixed incomes.

    -- Posted by Geezer on Fri, Aug 17, 2012, at 10:00 PM

  • To make the fair tax look good , you would need government spending to be about 40% less than it is now. Fair tax in combination with a dramatic decrease in gov. spending looks ok. Just the idea of a dramatic decrease in gov. spending would cure deficites in a very short time. Gov at all levels is just too big and expensive. It's ruining the country. Maybe vote for Gary Johnson - the Libertarian candidate.

    -- Posted by bob s on Sun, Aug 19, 2012, at 11:17 AM

  • a vote for johnson, as good as he might be, is really a vote for Obama. If you do not want increased taxes, debt and borrowing then vote for Rommney.

    -- Posted by dennis on Mon, Aug 20, 2012, at 4:05 PM
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