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