Letters to NJ Papers Regarding Fair Tax


 

http://www.fairtax.org/site/PageServer?pagename=news_current

Latest one Apr 6

 

Fair Tax in Congress offers some controls
Wednesday, April 6, 2011
By: Ted Hruzd

Daily Record

In reference to A. Prosie Lombardi’s letter (“We can’t choose where taxes are spent,” March 13), I sympathize with Ms. Lombardi’s point that “we do not pick and choose exactly how our tax dollars are spent.” Yes. Our control over tax expenditures is limited. However, how about current rules to collect taxes or provide loopholes? Our cumbersome tax code benefits many special interests with little positive effect on economic growth. How can we address this when our economy desperately needs a boost?

One significant answer is the Fair Tax in Congress (HR 25). It eliminates all special interests, all federal personal and corporate income and payroll taxes and replaces that with a revenue-neutral tax of 23 percent (for now) for all “new” products. It is progressive and provides “prebates” to lower-income earners. It eliminates the IRS, which alone will boost our GDP by about $300 billion. That money in the private sector will further generate extra GDP revenue, thus reducing our debt.

The Fair Tax (fairtax.org) can even be set up so Social Security can be funded long-term. Even if the fair tax rate increases (to fund entitlements), the fact that it eliminates federal corporate taxes renders it business-friendly, which likely will significantly increase GDP, thus Treasury revenues.

Ted Hruzd 
MORRIS TOWNSHIP

 

Same letter appeared in …

http://www.dailyrecord.com/article/20110324/NJOPINION02/110323025/1095/LETTER-Fair-Tax-Congress-offers-some-controls

http://www.thedailyjournal.com/article/C0/20110324/NJOPINION02/110323025/LETTER-Fair-Tax-Congress-offers-some-controls?odyssey=mod_sectionstories

http://www.courierpostonline.com/article/C0/20110324/NJOPINION02/110323025/Fair-Tax-Congress-offers-some-controls

 

 

 

 

Trenton Times – Mar 3, 2011

March 3 letters

Thursday, March 03, 2011

STAFF WRITER

A “fair tax’ would fix

the mess we’re in

One point of the letter “Rep. Smith, hear the women” (Feb. 25) addressed taxes. She wrote that we must “unplug tax loopholes and outdated laws.” She is correct.

Our cumbersome tax code benefits many special interests with little positive effect on economic growth. The fair tax (HR 25) will add to GDP and Treasury revenues. It will eliminate all federal personal and corporate income and payroll taxes and replace that with a revenue-neutral tax of 23 percent (for now) for all “new” products. It will be progressive, providing “prebates” to lower-income earners. It will eliminate the IRS and special interests, which alone will boost our GDP by about $300 billion. That money in the private sector will further generate extra GDP revenue, thus reducing our debt.

The fair tax (fairtax.org) can be set up so Social Security can be funded long-term. Even if the fair tax rate increases (to fund entitlements), the fact that it eliminates federal corporate taxes renders it business-friendly, which likely will significantly increase GDP, thus Treasury revenues.

Ted Hruzd,

Morris

 

 

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About economics501

1 - free market Capitalist; 2 - Fitness Entrepreneur; 56 years old, VP at an Investment Bank in NYC, ex Venture Capitalist, happily married with 2 girls. Education: Rutgers and NYU. I allow Ted Hruzd, my friend to blog at will here. He has many posts here. I have known Ted since we were both students at NYU. Ted also works for an Investment Bank as a VP in Equity Global Markets. ------------------------- I was very very Socialist leaning as a 22 year old. I then strongly believed in Gov role in helping the poor. However, as a USDA Child Nutrition Programs, I personally accounted for millions of fraud, abuse, and waste of tax payer money. I came to believe that the poor would be best served with less Gov programs and more with direct aid via tax system. Then after 5 years I became a free market capitalist, was a venture capitalist in 2007 and helped start 2 high tech companies. I dedicate this site to champion free market capitalism as the best road to Prosperity. Please join in. If you disagree, fine, but please post with dignity and class and be civil. Argue with facts always.
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