Ideas for Economic Stimulus Package Are nice, but there is a better way…
The FairTax would solve a lot of the economic woes the country is currently experiencing.
Americans (individuals and businesses) spend roughly $300 to $500 billion a year on income tax compliance and record keeping expenses. This money could be invested, saved, or spent, instead.
Currently, Americans hold over $13 trillion (yes, TRILLION) in offshore accounts and investments, in countries with more favorable tax conditions than the United States. This is roughly equal to the GDP of the entire country! Under the FairTax, this money would be free to come back to the United States without tax consequences, free to be invested in the American economy, given to American charities, and pay American workers.
Under the FairTax, no one would be punished for their achievement, and those that don’t achieve above the poverty line will be untaxed due to a monthly prebate of the sales taxes that would be paid on purchases up to the poverty line.
Politicians are now debating a $145 billion stimulus package which, in its own right, is great news. Whenever the government decides to let American citizens decide how to spend their own money is great. This looks to include a one-time $800 rebate for single taxpayers and a $1600 rebate to each married couple. Wonderful! However, consider the facts I’ve listed above regarding the FairTax. If the FairTax were passed, each family of four in America (EVERY ONE of them) would receive a MONTHLY prebate of over $500. This is over $6000 a year! Isn’t this a lot better than a ONE-TIME $1600 check?
The FairTax would not only completely UN-tax the poor, infuse money into every head of household’s bank account, and bring money home for investment in the United States, it would end the criminality of the current tax system, and remove the notion that the government owns you, your production, and your money.
Look into it:
Burt Noyes
23 Jan, 2008
You are absolutely right about the FairTax! I’ve been preaching on it for 2 years now and have found that like any great innovative idea, it takes time for people to wrap their brains around it. But once they get it, they’re hooked. Keep up the good work!
Carlo S Nalls
30 Dec, 2008
Because although this fairtax sounds good I am not optimistic about it being adapted by the U.S , why don’t they just not tax American workers’ paycheck for a full month or two to achieve the same result ?? Wouldn’t this be more effective quicker and less expensive to institute ??
It makes sense to me maybe because I don’t fully understand what it would take to incorporate perhaps…. or is just too logical too incorporate?