Economist Dale Jorgenson of Harvard University released a research paper showing that, “…the revenue neutral substitution of the FairTax for existing taxes would have an immediate and powerful impact on the level of economic activity. GDP would increase by almost 10.5 percent in the first year.”* Jobs produced by that level of growth would be an awesome boost for our country.
However, Obama continues to attack business and kill jobs with every move. Updates today show that Obama’s out of control government policies and his back breaking anti-investment regulations have killed more jobs while bringing GDP growth to a screeching 1.8% annual rate. As if $4/gallon Gas & 17%+ under-employment was not bad enough, our President and liberal cohorts continue to push for more spending and greater powers for the EPA to protect bugs rather than help produce needed jobs in the construction and housing industry. While commercial real estate investments plunged by 29%, he continues to push for more EPA & “core of engineers” to make up global warming regulations that are costing us even more jobs every day.
Laurence Kotlikoff of Boston University found that implementation of the fair tax would immediately increase paychecks of every American by 8% . The FairTax would tax only what we choose to spend to buy something and not on what we earn!
It’s time to stop being afraid of our own government. We are killing jobs even as small businesses are trying hard to keep up with the latest lobbyist empowered government changes in our Spaghetti tax code. In a shrinking economy, the Fair Tax is the boost we need now to grow our economy dramatically and get back to low unemployment!
A Simple government would empower the people and deliver them from being afraid of their own government since the Fair Tax:
- Enables workers to keep their entire paychecks
- Enables retirees to keep their entire pensions
- Refunds in advance the tax on purchases of basic necessities
- Allows American products to compete fairly
- Brings transparency and accountability to tax policy
- Ensures Social Security and Medicare funding
- Closes all loopholes and brings fairness to taxation
- Abolish the IRS!
Businesses would finally have a fighting chance against foreign corporations. Right now, overseas corporations have a major advantage against American companies cause our own companies are forced to embed the costs of our unfair tax system on our products we produce in America. It’s unfair that overseas companies get to come in and avoid our anti-free enterprise tax problems we have put on our own neighbors and put our own neighbors out of jobs. “Under the FairTax, manufacturers of foreign-produced goods pay the same tax as manufacturers of U.S.-produced goods. Under the current tax system, imported goods bear no income or payroll tax on the value added abroad. Similarly, U.S. goods exported abroad contain embedded income and payroll taxes that must be included in the price of the goods.” We should support our own and stop giving an unfair advantage to companies coming from abroad!
The Middle Class would benefit the most by the Fair Tax system, because they could pay taxes only when they choose to spend money, and could save money without government coming to take their money away. And when they pass along their life savings to their children, they would not have to be afraid of the government unfairly double taxing all they saved for their children. They could save their retirement money without having government penalize them for using their own money. It’s not fair that a hard working Middle Class citizen works all his life to build his small business or his life’s savings only to have the government come and take it all away through double taxations like the estate tax.
Here is the champion of the Middle Class and the poor Dave Ramsey on The Fair Tax:
The poor would have great protection from government attacks, cause they would get an 8% paycheck increase and be exempt from paying taxes on groceries, electricity and other basic necessities due to a rebate built into the Fair tax system for ALL Americans.
Most importantly, The Fair Tax would stop citizens from being afraid of their own government.
While Big corporations like General Electric can make billions and pay ZERO taxes, small business owners cannot afford the teams of lobbyists and accountants to have them pay ZERO taxes. In survey after survey, small business owners with less than 20 employees, who account for 89% of all employers and 20 MILLION employees, will tell you that the #1 concern above health/safety, employment, environmental, & occupation, is trying to keep up with overburdening government politicians making up new regulations on our tax codes and other areas that they are overwhelmed.
The FairTax Plan would “eliminate federal, individual and corporate income taxes, including self-employment taxes and the alternative minimum tax), the payroll tax, and the estate and gift tax with a single rate. Under the FairTax, small businesses would enjoy a zero tax rate and zero compliance costs! According to the Tax Foundation, small businesses spend $724 to comply with the income tax for every $100 they pay in tax. More than 90 percent of all U.S. corporations have assets of $1 million or less and, therefore, bear tremendous relative compliance burdens. Small corporations bear a compliance cost burden about 27 times greater than the largest U.S. corporations, those with $10 billion or more in assets.”
While most politicians out of Washington D.C. are going to fight tooth and nail to give the government back to our own people, there are some great candidates who are promoting this important Fair Tax system. For example, in the last election, one leading candidate, Governor Huckabee, ran strongly on the Fair Tax platform. Also, Senator Jim DeMint has been a strong proponent of the Fair Tax system.
It’s time we support candidates who want to give us a fair shake on our taxes! To find out more about the Fair Tax and answer many of your questions, visit The Fair Tax site and find out how The Fair Tax would benefit the regular guys including Farmers, Small Business owners and American based companies.
As one who has helped small businesses quadruple their sales in less than 9 months and to close over 100 Million dollars in new business for large corporations, I want to encourage you to join me in supporting The Fair Tax. We CAN grow our economy and help all our neighbors to be inspired about the Free Enterprise system once again! It helps to start moving forward with a Fair Tax that stops job killing policies which are hurting the small business owners and putting our neighbors out of jobs. If we want to see the results of an anti-business country, visit Cuba! But if you want to join us in this fight for our freedom to succeed, then urge your elected representative to implement The Fair Tax!
*Jorgenson, Dale W., “The Economic Impact of the National Retail Sales Tax,” unpublished report to Americans for Fair Taxation, November 25, 1996