Fair Tax Delevers Wage Fairness


The Times of Trenton published my letter to editor regarding the Fair Tax and Wage Fairness:

http://www.nj.com/times-opinion/index.ssf/2012/06/times_of_trenton_letters_to_th_380.html

FairTax delivers wage fairness

Sen. Linda Greenstein (D-Monroe), per her letter “N.J. moving toward greater wage fairness” (June 13), proposes a big-government solution to wage fairness. This will strangle businesses with time-consuming, meaningless paperwork. It will further retard economic growth, thus decreasing wage potential for all.

Growing a business can be very challenging. The most successful hire the best people possible and pay market rates per skills and value to the business without regard to sex or race — violate this rule and risk losing a valuable employee. Free markets, not government, are best at setting prices and wages.

One significant alternative to addressing wage fairness is to simultaneously address tax fairness so that success (income) is rewarded. This can be accomplished by passing the FairTax (fairtax.org), now in Congress as HR25. The FairTax eliminates all personal and corporate income taxes and replaces that with a revenue-neutral consumption tax.

This will position the U.S. as an entrepreneurial haven ripe for domestic and foreign investment. It will increase economic growth and jobs, and within a year or two generate extra tax revenues to reduce debt and pay for essential services. To further render the tax system progressive, monthly checks to counter the impact of increased consumption taxes will be provided to all up to the poverty level. A fair tax system will provide an environment for all to maximize their wage potential.

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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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