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and someone else suggested that it would increase high paying jobs....but then, any of those high paying jobs will come with a need for higher education, which only leads to a higher need for student loans, grants, ect. and we will all still want our little cashiers, burger flippers, office clerks, ect....and more than likely still be paying them so little that they skip away tax free.
John Linder re-introduces the FairTax
On January 4, 2007, the first day of the new 110th Congress, Rep. John Linder [GA-7] introduced HR 25, the Fair Tax Act of 2007. Rep. Linder introduced the bill "to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States."
In the 109th Congress, the Fair Tax Act of 2005 had 63 co-sponsors in the House and Senate, far more than any other tax reform bill. When the new Congress convened in the beginning of January, all the legislation of the past two years expired (with the exception of treaties), clearing the slates of co-sponsors as well, and a new legislative year began. Rep. Linder introduced the bill as he has done in each Congress since 1999, and it was immediately referred to the House Ways and Means Committee. By the end of the day on January 5, the FairTax bill already had 27 co-sponsors! If your representative was previously a co-sponsor, contact their office and remind them that you’re expecting to see their name return quickly to the co-sponsor list. If your representative has not yet co-sponsored, call and tell them why they should!
* Commence an immediate and orderly withdrawal from Iraq;
* Raze Guantanamo and Abu Ghraib prisons to the ground;
* Stop Congress from raiding the Social Security Trust Fund;
* Initiate a Universal Single Payer Healthcare Plan;
* Abolish the Federal Income Tax & IRS, replacing them with the "Fair Tax" (a national sales tax);
* End the war against America's veterans; and
* Ask the American people to enact The National Initiative for Democracy so that you can decide on our agenda and all of the issues that affect your lives
A grim outlook
The nonpartisan Government Accountability Office offered a sobering report to the Senate last Thursday on how deeply in debt this nation really is.
According to the head of that office, U.S. Comptroller General David Walker, the government has promised more benefits to recipients of Social Security, Medicare and Medicaid than it can pay. The government’s total liabilities to social insurance programs total $50 trillion, approximately four times the nation’s economic output. That liability was $20 trillion in 2000.
Walker, quoted in a story from the Cox News Service, told the Senate that the budget is on a “imprudent and unsustainable” path because Congress has been cutting taxes since 2001 while increasing spending at substantial levels. The cost of the war in Iraq isn’t helping matters either.
The Bush administration had promised the tax cuts would spur economic growth, which would make up for the short-term revenue loss. “We cannot grow our way out of this problem,” Walker told senators. “The math just doesn’t work.”
Things will get bleaker once the 70 million baby boomers begin retiring next year, he said.
Walker listed several things Congress must do to deal with this problem:
– Improve accounting transparency to show the real cost of federal programs and tax cuts.
– Institute strict budget controls to stop lawmakers from boosting short-term deficits.
– Retool Social Security and Medicare so the government can meet its promises.
– Reform the health care system to lower Medicare costs.
– Simply the tax code to boost compliance and generate more revenues.
We encourage Congress to take seriously what the comptroller general had to say and act on his recommendations. This nation is facing staggering financial problems that, as Walker said, must be dealt with in a bipartisan manner.
Putting our nation’s financial house in order won’t be easy – or popular. But it must be done, sooner or later.
Originally posted by semperfortis
I am a firm believer in the "Baby Steps" concept....
With all of the major things going wrong in the Country right now, perhaps the institution of the Fair Tax system is just the shot of adrenaline this Country needs....
The impact of that much more money flowing into the economy will produce reactions that as yet are unseen. Just the tax cuts super charged the economy, imagine what that kind of influx will do!!!!
Semperfoo do you or anyone have a copy of a standard letter to mail out to Congressmen and Representatives in support of the Fair Tax???