Posted on 11/16/2005 12:13:10 PM PST by Eaglewatcher
House Majority Leader Signs On To Linder’s Bill Abolishing the IRS
Washington, D.C. - Congressman John Linder (R-Georgia) is pleased to announce that he has added more than 20 co-sponsors – including House Majority Leader Tom DeLay (R-Texas) – to his innovative tax reform legislation, the FairTax. Linder’s bill, H.R. 25, would abolish all federal income taxes, death taxes, capital gains taxes, and payroll taxes, and replace them with a national retail sales tax.
“The momentum behind the FairTax continues to build, and Majority Leader DeLay’s co-sponsorship is just the latest signal that support for the FairTax is growing,” said Linder. “The bill now has 21 co-sponsors – more than any other fundamental tax reform legislation in the House – and they represent a bipartisan coalition of members from across the nation. Not only do my colleagues recognize the harm done to the American people by the overly intrusive and burdensome income tax code, their constituents recognize it every April 15th,” continued Linder.
The addition of DeLay and 14 other co-sponsors in the last month alone is just the latest positive news regarding the FairTax. In February, the annual report of the White House Council of Economic Advisers stated for the first time that elimination and replacement of the complex and arcane federal income tax code with a consumption tax would increase efficiency in the tax system and promote investment and growth. The report stated that a consumption tax, like the FairTax, could very well be the most suitable replacement for the income tax system.
Excellent news!
I don't believe it'll actually happen, but...
Excellent news!
This is a big deal.
I highly doubt this is gaining any momentum, unfortunately.
BTTT
B.S.
"I learned some great lessons from the Marines"
too bad the clowns in D.C. haven't. LOL
"Improvise, Adapt and Overcome!"
B.S.
No kidding. Anyone who thinks a national sales tax is a panacea need only look at what happens to the revenues of every state that enacts double-digit "sin" taxes. Purchases in that state drop precipitously and a burgeoning tax-free black market takes over.
Naturally, the government response is to create new "fees" to make up for the lost revenue. So, pretty soon, we'll have not only a load of new fees (which will be administered by an IRS-grade bureaucracy) and we'll have a 40% tax rate on all goods, plus we'll have wanton invasion of privacy when the feds demand that all goods have an accompanying federally-approved receipt.
"Papers, please" will soon be replaced with "Receipt, please."
I can't believe the chumps who think this is a good idea.
Actually, I mistakenly confused the White House Council of Economic Advisers report with the recent Tax Reform Panel that rejected a national sales tax.
For a laugh, do a FR search on 'Tax Momentum'. Nothing ever changes...
Have you read the bill?
We won't have to have show anything.
Have YOU read the bill? The requirement to show proof of valid purchase is nested in it. Read the damned thing.
Not necessarily. Sin taxes create black markets because the tax was made ridiculously high to make it more difficult to get the item. That would never happen with a FAIR Tax. The FAIR Tax would never have a high enough rate to provide an incentive for a black market.
Naturally, the government response is to create new "fees" to make up for the lost revenue. So, pretty soon, we'll have not only a load of new fees (which will be administered by an IRS-grade bureaucracy) and we'll have a 40% tax rate on all goods, plus we'll have wanton invasion of privacy when the feds demand that all goods have an accompanying federally-approved receipt.
Or, it could simply not spend as much money. We didn't have an income tax for quite some time and never were 40% fees placed on anything. A 40% fee would never be placed on anything, because then the taxed item would rarely be purchased and you'd be generating less money than you would without it.
It wouldn't be administered through receipts, it would just be collected at the register like state and local income taxes are.
Not necessarily. Sin taxes create black markets because the tax was made ridiculously high to make it more difficult to get the item. That would never happen with a FAIR Tax. The FAIR Tax would never have a high enough rate to provide an incentive for a black market.
Naturally, the government response is to create new "fees" to make up for the lost revenue. So, pretty soon, we'll have not only a load of new fees (which will be administered by an IRS-grade bureaucracy) and we'll have a 40% tax rate on all goods, plus we'll have wanton invasion of privacy when the feds demand that all goods have an accompanying federally-approved receipt.
Or, it could simply not spend as much money. We didn't have an income tax for quite some time and never were 40% fees placed on anything. A 40% fee would never be placed on anything, because then the taxed item would rarely be purchased and you'd be generating less money than you would without it.
It wouldn't be administered through receipts, it would just be collected at the register like state and local income taxes are.
It may not be-- but it's importatnt to support it and demand reform-- or if nothing else, real debate on reform.
I supported the FairTax with dollars and by purchasing the book-- and I'm not even a FT zealot. I think a lot of issues need to be addressed.
GREAT NEWS!!!!
This is from 2003.
??
Yes that is correct. The movement started some time ago. It is important to know that this is not a wish and a whim, but a well thought out proposal and plan.
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