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FAIRTAX FRIDAY & CHAIRMAN’S REPORT – MARCH 17TH, 2017

WHAT A DIFFERENCE $9 TRILLION MORE REVENUE CAN MAKE
 
Where can we find an extra $9 trillion?  Dr. Cebula’s study shows that federal tax evasion will likely be $9 TRILLION over the next ten years and this amount will be substantially reduced by a national retail sales tax replacing the current income/payroll tax system. 
 
While many of us are stunned by this amount, it is hard to see how it directly affects each of us.  Because Congress and the D.C. Elites want to protect the system that helps Members get reelected and the Elites get rich, they don’t raise our taxes but instead borrow the money to finance the programs needed to keep us quiet. 
 
Like the man with a toothache who refuses to go to the dentist until it is too late to save the tooth, borrowing money to finance current spending is not a solution.  However, there is a way to balance the budget and stop adding to the debt—enact the FAIRtax! 
 
Explaining the U.S. National Debt in Plain English
 
Public finance experts divide  the U.S. national debt into debt held by the public and debt held by government accounts.[K1]  
 
Debt held by the public includes U.S. Treasury instruments (mainly Treasury Bills and Treasury Bonds) held by individuals, the Federal Reserve and other non-U.S. government investors.  Debt held by government accounts  is the debt represented by securities held in accounts which have an obligation, like the one for Social Security.
 
Currently the debt held by the public is about $14.1 trillion, and the amount of debt held by government accounts is about $5.8 trillion, for a total U.S. national debt of $19.9 trillion.
 
Deficits, Interest Payments and the Growth of the National Debt
 
The Committee for a Responsible Budget has compiled the following list of key budget facts compiled by the Congressional Budget Office (CBO)

  • Interest payments will be 100 percent of Gross Domestic Product (GDP) by 2042 
  • Interest payments alone are expected to hit $227 billion this year, more than double to $480 billion by 2019 and more than triple to $722 billion by 2024 
  • The deficit will be $559 billion in 2017 (2.9 percent of GDP) and reach $1 trillion (4.2 percent of GDP) by 2023 and $1.4 trillion (5.0 percent) by 2027 
  • Debt held by the public will rise dramatically, from $14.2 trillion at the end of 2016 to $24.9 trillion by the end of 2027 – a $10.7 trillion increase.  (Non-public debt is projected to grow as well so our total debt will be over $30 trillion in 2027.) 
To further illustrate, this report from the U.S. Treasury, said that as of March 1, 2017, the $19.9 trillion of national debt represents:
  • $61,365 for every person living in the U.S.
  • $158,326 for every household in the U.S.
  • 106% of the U.S. gross domestic product.
  • 560% of annual federal revenues. 

Below are some graphics illustrating these facts. 

 
President Trump and Congress—There Is a Solution Without Raising Taxes or Assaulting Us with Hordes of IRS Agents
 
Compare the amounts of the deficit and the amounts of interest payable on the debt with the amounts of evasion from the Cebula study.  If you look at the “Historical Gross Tax Gap Growth Rate”, you will see that collecting a substantial portion of the taxes evaded will greatly reduce, or in some years eliminate, the budget deficits and dramatically slow increases in the amount of U.S. debt.  

Collecting a substantial part of the $9 trillion by replacing the income/payroll tax system with the FAIRtax will benefit all of us—without raising taxes or having hordes of IRS auditors harassing us.  In addition, the CBO projections assume the economic growth rate for the next ten years will average 1.9%.  The estimations of growth under the FAIRtax increase this rate of growth and this will help bring down the deficit even more. 

CONCLUSION
 
Politicians today are no different than they were in the past.  Most of them try to avoid any problems that they can push to the future.  The great thing about doing real tax reform, the FAIRtax, is that it is a way to not only solve problems today but make the politicians look brilliant.  We just have to ask our Members of Congress how they plan to address the spiraling  annual deficits and the total debt?   After politely listening to their non-answer, ask why they don’t want to pass real tax reform, the FAIRtax, and reduce the annual deficits and the total debt by collecting much of the money now being evaded?  If they are still not ready to support the FAIRtax, ask them if they are in favor of greatly increased IRS audits because that is the only way to even begin to slow the income/payroll tax evasion?
 
The answer is to pass the FAIRtax. 

HELP BRING ABOUT REAL TAX REFORM AND STOP FUTURE IRS ABUSES

Abraham Lincoln also said, “Things may come to those who wait, but only the things left by those who hustle.” 

We may only have a limited time to stop the fake tax reform being promoted by some in Congress.  If it passes, then the Elites will say that we need to wait before we consider any more changes.  To stop this fake reform, we must be able to ensure that our message is clearly heard not only by Congress but also by President-elect Trump.  To do this we need your help.

By contributing (investing) $10.40 per month, you help provide a financial base to AFFT.  If you can make larger contributions (investments), these will be used not for salaries, as we are all volunteers, but for the needed updates to our economic studies which will be vital in 2017.
 
Please go to this link to invest in AFFT and in your and your family’s future.

FAIRtax E-Book 
AMERICA’S BIG SOLUTION - An E-book For Beginners

To all things, there is a beginning and an end.  The end is when HR 25, The Fair Tax Act of 2017 becomes law.  If someone needs to start from the beginning with the FAIRtax, this e-book is what they need. We all need to become engaged in order to force Congress and President Trump to adopt the FAIRtax as the new tax plan.   We all need to come up to speed on the FAIRtax.  This e-book is the first step. 

AMERICA'S BIG SOLUTION is available for only $2.99 for the Amazon Kindle, the Barnes & Noble Nook and Apple iOS.  

AMERICA'S BIG SOLUTION by Florida Volunteer Terry Tibbetts has been written to give people of all ages a basic introduction to the FAIRtax and encourage them to learn more about the most thoroughly researched tax plan ever presented to Congress.  It is a light hearted approach to a very serious subject. 

Everyone needs to know that we have an alternative to federal income tax and the criminal enterprise known as the IRS.  Everyone needs hope and AMERICA'S BIG SOLUTION provides that hope. AMERICA'S BIG SOLUTION is an alternative the social media platforms competing for our attention. 

You can even purchase a print copy at the same Amazon link above for $9.25.  Regardless of whether you choose the electronic format or the print format, you'll find AMERICA'S BIG SOLUTION will give someone the boost they need to begin their study of the FAIRtax and the suggested resources to learn more. Buy AMERICA'S BIG SOLUTION now!

FAIRtax Power Radio
Weekly Podcasts and Monthly Facebook LIVE

There is an easy way to introduce your friends to the FAIRtax.  And it’s completely free.  Tell them to listen to FAIRtax Power Radio which is a free weekly podcast. As described below, you can listen on your computer or on your smartphone. This is a great way to get more people to become knowledgable about the FAIRtax.
 
Through the “Hope and Change” of the last eight years and the promises to “Make America Great Again,” what is Congress and the new administration offering us as tax reform? At this point, both President Trump and the Speaker Ryan are offering a modification of the current failed system. As Kerry Bowers, one of The FAIRtax Guys interviewees, said about Speaker Ryan’s “A Better Way” plan, “It transforms the tax plan from a personal income tax, a corporate income tax and a payroll tax enforced and administered by the IRS to a system that includes a personal income tax, a corporate income tax and a payroll tax enforced and administered by the IRS.”  Is this REAL reform?  No!
 
As The FAIRtax Guys discuss, this plan does not represent “Hope and Change” and is not the way to “Make America Great Again.” We need true tax reform; we need the FAIRtax. And we provide the listener new and novel ways to discuss the FAIRtax with your friends and neighbors every week. 
 
You can listen to our FREE podcasts on Spreaker.com, iTunes or iHeart Radio. You can listen on line or download the podcasts to your computer or smartphone. 
 
For your iPhone or Android, we have a free app. Just search for FAIRtax Power Radio in your app store, download the app and start listening.  We post a new episode every Friday morning.  Please listen in and tell everyone you know about the FAIRtax Power Radio podcasts. 
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Links for Further Information

Please, if you'd like to keep studying and promoting the FAIRtax, make yourself familiar with the links below. We always do our best to keep our AFFT community up to date, and you can stay ahead of the curve using these convenient sites.

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