Times of Trenton published letter supporting Fair Tax again – Jan 6, 2013


Times of Trenton published letter supporting Fair Tax again – Jan 6, 2013

 

Keeps the FairTax details in front of the public.  Below is link and article.  BTW please visit www.returntoexcellence.net for a deep dive of how the Fair Tax will impact you and the nation.

 

http://www.nj.com/times-opinion/index.ssf/2013/01/times_of_trenton_letters_to_th_572.html

 

Increase taxes, increase the debt

I strongly disagree with the letter “It’s up to Republicans to step up to the plate” (Dec. 29), in which the writer recommends a “balanced” approach to the fiscal cliff. In all likelihood, this approach will only lead to higher taxes and phantom cuts.

It is a myth that tax increases will decrease our debt. Most tax increases slow the economy, decrease the tax base, result in less Treasury revenue and thus increase the debt. If that happens, expect another credit downgrade for the country and eventually a debt restructuring imposed on us by our foreign creditors.

How about growing GDP much more strongly than the present 1 percent to 2 percent, so we can generate more tax revenues to decrease our debt? Tax reform can accomplish this. The FairTax, now in Congress, as HR25, is the most promising tax reform option. The FairTax eliminates federal personal and corporate income and payroll taxes and replaces them with a consumption tax. This will empower the private sector to significantly lead us back to prosperity, as our businesses will be able to more strongly compete globally.

Reward success (income) and encourage more of it. The net result will be a stronger tax base and lower debt.

The FairTax (FairTax.org) remains progressive via “prebates” to everyone up to the poverty level.

— 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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