Although bailouts and stimulus packages are topping the news, there is an absence of reporting on a bailout and stimulus plan that surpasses previous proposals by over tenfold. That plan is the Fair Tax.
The Fair Tax is a tax reform proposal that un-taxes American investment and business and makes America the world's tax haven. Alan Greenspan is reported to have said that, of the twelve trillion dollars of American capital sitting offshore, ten trillion of that capital would come back onshore in a matter of months if we had the Fair Tax. If that happens, our liquidity crisis would be solved almost overnight.
The Fair Tax replaces corporate and personal income taxes, estate and gift taxes and federal payroll taxes with a progressive national retail tax on all consumption, once and only once, in a way that is fair to low-income people and gives the federal government the same real spending power it has today. Twenty-three million dollars's worth of research says the plan will work.
The Fair Tax lets you decide through your purchasing decisions how much tax you pay and when you pay it. It lets you keep your entire check free of federal taxes and withholding. You skip the April 15 filing date and "do your taxes" at the checkout counter - and walk away with no chance of an IRS audit.
Tell President-Elect Obama, your congressman and your senators that you demand the Fair Tax.
For more information go to www.fairtax.org.
~Jim
Thursday, November 27, 2008
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