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.
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,