Tax Proposals Point Out The Fear Of Telling The People The Truth
Abraham Lincoln responded to a political foe who was making some misleading comments, “You can fool some of the people all of the time, and all of the people some of the time, but you cannot fool all the people all the time.”
It is surprising that, in this Twitter and Facebook age, the presidential candidates who are promoting “tax reform” plans, with the exception of Governor Huckabee, somehow think that they can fool enough people that they can get elected.
For example, you can look at the “tax reform” proposed by Senator Rubio and see that, if enacted, it is an improvement over the present income tax system. However, saying that it is an improvement over a terrible system is like the old joke about the assassination of President Lincoln at a play, “Other than that Mrs. Lincoln, how did you enjoy the play?”
How many people know that in order to collect the same amount of money now collected by the federal payroll and income tax system you need a 23% federal tax rate on all retail sales and retail services?
They certainly don’t see the true cost of the federal government with the present income tax based system. It is hidden by all the complexity and the fact that when you are completing your federal tax return you are mostly concerned on how you can use “deductions and exemptions” to keep more of your money.
It is human nature to try to divert attention from something that is embarrassing. What could be more embarrassing than the present income tax and payroll tax system. If it actually worked to improve the economy and collect the revenues needed, maybe the IRS and complexity and the hidden costs would be tolerable. This is not the case.
Why We Need Economic Growth!
In an article for Real Clear Markets, Louis Woodhill explained why economic growth is so important.
“If our economy had grown at 4%/year from 2000 to the present (instead of at 1.76%), our economy would be about $6.8 trillion, or 38% larger right now. We would be at full employment, rather than 13.8 million FTE* jobs distant from it. Average wages would be at least 25% higher than they are today. And, far fewer recent college graduates would be living in their parents' basements and working at Starbucks.
With 4% RGDP growth since 4Q2000 (and all else being equal, including our bloated level of spending), the federal government would have run a FY2015 surplus of $805 billion, rather than a deficit of $435 billion. No one would even be talking about cutting Social Security and/or Medicare benefits.”
FAIRtax And Economic Growth
The FAIRtax is the only tax reform proposal that:
• Eliminates all the problems with the present income and payroll system
• Eliminates the IRS
• Eliminates the barriers to economic growth and can achieve the 4% growth that will produce the economic benefits discussed by Woodhill
October Washington Trip
Peggy’s great report in this week’s FAIRtax Friday show that not only is she a great asset for us but that we are making great progress.
1040 Club
Thanks to each of you who have joined the 1040 Club. You are ensuring that Americans For Fair Taxation can continue to promote the FAIRtax.
If you are not a member of the 1040 Club, or if you are a member but want to join for someone else, please go to this link and sign up.
FAIRtax Power Radio
Whether you’re a FAIRtax volunteer or an informed citizen who wishes to be better informed, we encourage you to listen to FAIRtax Power Radio, the online radio show that is available when you are. Bob and Ron just finished a series of three episodes in which they discuss criticisms of the FAIRtax that we have all heard over the years. This series is episodes 20, 21 & 22 and can be heard on SoundCloud (which is FREE) at these links:
FTPR 20 http://bit.ly/1h2R4pO
FTPR 21 http://bit.ly/1NX8Qrs
FTPR 22 http://bit.ly/1M4NwlE
AFFT National LOGO Store and Scrolling Signs
Going into the primary system, it is even more important that all of us have FAIRtax signs that we can bring to political rallies. Many venues will not allow us to bring signs attached to metal or wood holders. That is why Rudy Treml designed and had printed the scrolling FAIRtax signs. Visit our National Store at www.fairtaxlogostore.org and purchase some Personal FAIRtax℠ Scrolling Handheld Event signs.
It is a handheld scrolling event sign printed in color on both sides with our new logo. When folded up, this banner is only 2” x 9” but opens up to a 27” x 9” presentation
which self-retracts. It is ideal for all political events and easily fits in a pocket, jacket or purse when not in use. To see a picture of this banner please click here.
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