Posted by
SoCal FairTax on Friday, September 19, 2008 5:35:12 PM
Glenn,
In response to the Glenn Beck subscription e-mail that I received today…
The problem with the economy is our government – big surprise, right?!
Here’s the thing. Somehow our government thinks that it is okay to chase manufacturing and many services away from our lands through excessive taxation and regulation. One simple fix would make the U.S. a tax haven which would attract trillions of dollars of investment back to our lands – and along with that, jobs and prosperity as well.
Glenn, I am talking about the FairTax and I want you to get on board.
Consider this: You go to the doctor and get a $10,000 procedure. What portion of that goes to the Fed? Say valid overhead costs of the services provided are pretty low (say about $2,000), the doctor is still probably sending $3,000 - $4,000 to the Fed when considering corporate tax, payroll tax (himself and office staff), tax compliance (after he pays his CPA, etc.).
Under the FairTax, the doctor would collect $10,000 for the same procedure of which, $2,300 would be tax. He would then that send $2,300 up to the state which would then send it up to the Fed.
No IRS
Minimal compliance costs
No individual, corporate, capital gains, or estate tax and compliance costs.
No hassles
It is important to note that this is revenue neutral to our government. In other words, the gov’t gets the same revenue with the FairTax as it does with our current nonsense taxes. AND… the prospects for federal revenue growth are dramatically better!
What happens when you apply that to manufacturing, distribution, retail? Well, those workers/staff members/executives that the company matches payroll taxes on… would be able to keep their entire paychecks AND the company would not have to match payroll taxes (~7.65% thank you very much). Take the payroll and corporate taxes off the backs of employers and, guess what? They can get products to market that don’t have to price those nonsense items in. Hey, doesn’t that mean that US-made products could compete on a more level playing field with imports that aren’t taxed (or that have taxes stripped when exported)? Global competitiveness in a globally competitive world… how nice…
Tax prebate – what the hell is that? It basically says that the survival of my family comes before funding the government. My family of four is untaxed up to the poverty level (about $30,000) which means that the Gov’t prebates my expected taxes on $30k in the form of a monthly payment of roughly $525. Family before gov’t… what a concept.
But wait, it gets better… those illegal aliens who, well…, aren’t here legally… they don’t get the prebate. They actually pay taxes but don’t get one significant benefit.
Finally, this system collects taxes from the wealthy who consume at greater levels… tourists who visit our lands… that drug dealer who buys his bling and/or big screen TVs…
And finally… WE GET OUR COUNTRY BACK FROM THE SPECIAL INTERESTS IN THE PROCESS!!! Power back to the people… that’s what I am talking about.
I hope you take a serious look at this Glenn. Go to www.fairtax.org for more info. Have Neil Boortz and John Linder on your show.
Cheers,
YK