Posted on 01/30/2006 2:31:32 PM PST by groanup
FOR IMMEDIATE RELEASE
Monday, January 30, 2006
Isakson Introduces Legislation to Repeal Tax Code by 2008 Requires Congress to Reauthorize Current Tax Code or Replace It with New System
Flat Tax and National Sales Tax Must Be Considered Among Options
WASHINGTON – Declaring that it's time to give relief to American taxpayers, U.S. Senator Johnny Isakson (R-Ga.) has introduced legislation to repeal the U.S. tax code by 2008 and to force Congress to vote to reauthorize it or replace it with a new system.
Isakson's bill also creates a commission that would be required to examine and to recommend to Congress plausible replacements for the tax code. A flat tax and a national sales tax must be among the options it examines, under Isakson's legislation.
“The average person spends over 13 hours completing IRS Form 1040, and nearly three in five tax filers have to hire help to complete their taxes,” Isakson said. “The time has come for us to give some relief to the American taxpayer through a complete overhaul of our burdensome, confusing and overly complex tax code.”
The Tax Code Termination Act, S.2182, would terminate the current tax code on December 31, 2008. To ensure a smooth transition to a new system, Congress must approve a new tax code by July 4, 2008. If a new system is not approved by July 4, 2008, Congress would be forced to vote to reauthorize the current tax code.
“History has taught us that if we don’t impose a deadline and terminate the tax code by a date certain, overhauling our inefficient system is nearly impossible,” Isakson said. “All options should be on the table and the only way to fairly consider all of them is to start from scratch.”
To help Congress choose the best replacement system, Isakson's bill creates a commission to analyze reform options and report its findings to Congress. The commission would review the impact of the current tax code on the economy, families and workers; the compliance costs to taxpayers, small business and corporations; and the Internal Revenue Service’s ability to administer the current code.
The commission would be required to consider specifically whether the income tax should be replaced with a flat tax, a national sales tax or another option. The commission also would be required to identify the transition costs associated with any change to the present federal tax code.
The commission would also be required to report on the potential impact of any new system on the U.S. economy and on the government’s ability to collect revenue. Additionally, the potential impact of any new system must be presented and reviewed from both static and dynamic scoring models.
The bill will create a National Commission on Tax Reform within the legislative branch, consisting of 15 members. Two of the members will be required to come from businesses with less than 50 employees. The commission will be appointed by the president, the Senate Majority Leader, the Senate Minority Leader, the Speaker of the House and the Minority Leader in the House.
ping all your lists please
Great idea!!!
Republicans should go to the American people with the moral argument that taxing anyone or anything more than 25% is immoral. It should be wrong for the government to take more than 1 out of every 4 dollars.... etc.
Please call your Congressman now!!!! Too many self employed not paying at all. I know, I do mortgages and self employed are not paying!
Before the next election. ;-) I like it.
Jesus doesn't ask for but 10%..why is uncle sam entitled to 25%???
I had almost written the guy off but this has changed my mind forever.
Hey, I'm willing to go lower but that would require cuts and that is not something our current "leadership" is apparently willing to do.
My former Rep and now Senator. He will get an attaboy call tomorrow!
would be no need for cuts if they would become less wasteful and more efficient........that is what they are not willing to do.
A Taxreform bump for you all.
If anyone would like to be added to this ping list let me know.
John Linder in the House(HR25) & Saxby Chambliss Senate(S25) offer a comprehensive bill to kill all income and SS/Medicare payroll taxes outright and replace them with with a national retail sales tax administered by the states.
H.R.25,S.25
A 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 retail sales tax to be administered primarily by the States.Refer for additional information:
I already e-mailed him. He just got my vote for a long time down the road.
Agreed. But the legislation demands they look at the fair tax and the flat tax. It also demands that if they can't come up with a new system they have to VOTE TO RETURN TO THE OLD ONE. LOL! Know anyone in congress who wants to do that?
"We-need-another-commision-like-we-need-a-hole-in-the-head-but-okay" BUMP!
Exactly. The panel that President Bush had appointed failed miserably. Time for President Bush himself to stand up and be accounted for by getting behind the FairTax.
The United States trade deficit is projected to be a trillion dollars by 2010.
How to turn around the trade deficit and
create a massive amount of new jobs in record time
Rep. Bill Archer, Chairman, House Ways and Means Committee:
"A recent survey was done, in Europe and Japan, of the major corporations and I was astounded at the results. They were asked, 'If the US abolished its income tax and went to a sales tax, would that have any impact on your decisions?' Eighty percent of the corporations said they would build their factories in the United States of America. Twenty percent said they would move their international headquarters to the United States of America."
There exists tax competition among governments. It's not a matter of if consumption-based sales tax will gain dominance the world over, but when, and which country will lead the charge and which countries will play catch up.
The United States must take the lead.
That's the short list. For more information see fairtax.org or search: "national sales tax" OR "national retail sales tax"
Nobody wants another commission. But S.2182 at least puts a timetable on abolishing the IRS and if a better system can't be found the congress must vote to re-authorize the current income tax code. I think this is a hell of a step. It forces the issue IF it can get legs. We need to write, write, write.
I just checked thomas.loc.gov.....
Doesn't appear that there is a companion bill in the House yet. We need to ask our Reps to sponsor the companion bill in the House.......
Go Isakson!! Wow I thought he was a lost cause.
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