Over the next few days, I will go over some of the FairTax facts with you.
1. Creates jobs where the current system destroys jobs.
Too many businesses are sending jobs overseas because the labor is cheaper AND the taxes are more favorable. If we enact the FairTax, these businesses will be happy to move back to the U.S. and I wouldn't be surprised if a number of other countries would rush to set up business in the U.S. because of the favorable tax system, thereby bringing more sales tax revenue that we didn't have before. Also, the individuals and corporations with off-shore banking accounts will bring their money back here. You will see a boom to our economy that you never would have dreamed possible. You won't have any trouble finding a job that suits you and pays well.
2. Gives you your whole paycheck. No federal withholding!
You will receive 100% of your income. Look at your paycheck: How much is your employer holding out of your check for various payroll taxes? That money would come to you to spend, save or invest as you like. You would only pay taxes when you purchased new goods or services. In the meantime, that money could be sitting in YOUR bank account earning YOU interest. Or invest in stocks or bonds. Whatever YOU decide to do with YOUR money.
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4 comments:
Bobbie, What a great concept! Thanks for informing me. I'm going to look into it and go read the book...BJ
The book BJ is talking about is "The FairTax Book" by Neal Boortz and John Linder. It gives a comprehensive analysis of the FairTax bill (HR25 & S1025) now in committee before Congress. It is a fast and easy read in language we all understand. You can read the bill itself by going to www.fairtax.org or clicking on my link to Americans for Fair Taxation.
Bobbie,
Thanks for going through the hard work of setting up a blog. Why dosen't Oregon have thier own FairTax Website? It would seem there is a need for one to get the information out.
JW
Hi JW,
Oregon does have its own website. It is www.orfairtax.org. The problem with web sites is they don't change too often and people get bored. I do have a link to it on my blog. Check it out.
Bobbie
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