No more need for IRS and its dirty tricks – Washington Examiner published my letter


No more need for IRS and its dirty tricks – Washington Examiner published my letter  http://washingtonexaminer.com/letters-for-may-14/article/2529524

WashExam

Washington Examiner published an abridged version of Ted’s letter May 14  :

No more need for IRS and its dirty tricks

Re: “Did IRS dirty tricks against Tea Party end in Cincinnati?” Editorial, May 13

History repeats itself. President Nixon used the Internal Revenue Service against his political enemies, too.

But the IRS’ recent admission that it targeted taxpayers with particular political beliefs provides proponents of the Fair Tax with significant ammunition.

The Fair Tax replaces our current tax system, which punishes success, with a revenue-neutral consumption tax. Those with incomes below the federal poverty level would receive prebates to offset the impact of the consumption tax.

The Fair Tax would also eliminate the IRS. Given today’s technology, there is no longer a need for it. And the resulting $430 billion now spent on tax compliance costs can be used to pay down our debt and fund Social Security.

Full Letter (what Ted sent in to Washington Examiner)

Washington Examiner:

This is in response to your editorial “Did IRS Dirty Tricks Against Tea Party End in Cincinnati”.  The recent IRS admission that IRS targeted taxpayers with particular political beliefs provides proponents of tax reform with more and significant ammunition.  The most promising tax reform option is the Fair Tax (in Congress as Bill HR 25).  It replaces our current tax system that punishes success (income) with a revenue neutral consumption tax.

The Fair Tax will also eliminate the IRS and the $430 billion tax compliance cost.  Use that to pay down our debt and fund Social Security.  Given today’s technology there is no need for the IRS.  Given the temptation for the IRS to infringe on our freedoms is yet another reason to eliminate the IRS.  Recall Nixon used the IRS against his enemies. History repeats itself; hence let’s take a pre-emptive strike against this and implement the Fair Tax.  Another benefit of the Fair Tax is that is retains a progressive tax system. All will receive prebates up to the poverty level to offset the consumption tax impact.  Please contact our Congressmen and Senators to enact the Fair Tax which will benefit all Americans, accelerate our economy, and maintain our freedoms.

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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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