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FairTax Bill offers positive change


Fri, Jul 18th, 2008
Posted in Commentary

Upon telling folks about the FairTax bill, they frequently say, "It'll never happen." This has been the common reaction to every big idea ever proposed in the history of man. If the FairTax plan is such a great idea, if it is much needed, then why will it never happen?

Have we become so cynical that we cannot believe that much-needed change is possible? Have we come to accept the current tax code as a permanent, immutable part of our lives?

The FairTax bill would repeal all corporate and individual income taxes, payroll taxes, self-employment taxes, capital gains taxes, death taxes, and gift taxes. They would be replaced with a revenue-neutral, 23% personal consumption tax. Americans would receive their entire paycheck. They would have the power to choose exactly when and how much to pay in taxes.

The FairTax achieves this by offering to every household of American citizen a tax prebate. The prebate will amount to 23% of the money they spend up to the poverty level. Families that spend only to buy basic necessities will be tax free because the prebate will cover their taxes every month. When a rich man decides to buy a new private jet, 23% of the purchase price will enter the federal treasury. Americans will return to taxing wealth instead of wages.

There are many reasons why changing the way we fund our federal government is necessary. Here are three of the most compelling:

1) Our current code is taxing American businesses into a severe disadvantage in competing in the global economy. Because of corporate, personal and payroll taxes our businesses have 22% embedded tax in goods they produce. Foreign goods do not have this burden and so have a leg up on American industries. The FairTax will give our industries the best business cost structure in the world.

2) Our current code punishes productivity. On average, Americans lose 33% of their wages to taxation. The FairTax will unleash the power of the American worker and greatly increase their spendable income.

3) Our current code violates the right to privacy of Americans. The FairTax will restore the privilege of anonymity long cherished but long denied. Under the FairTax, there will be no more IRS and no reason for the government to know how much you earn and how you spend it.

The FairTax bill was introduced in Congress in 1999. It is a big idea and big ideas take time to establish. Gaining momentum is the greatest challenge to the enactme .....
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Let them eat cake

Fri, Jul 18th, 2008
Posted in Commentary

In the late 50's when I went on leave from an active duty post in Virginia I brought home a young man who had never been more than about 50 miles inside tidewater on the east coast He was born, I think, in Massachusetts and grew up in New York State ..... 
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Strawberry Fields Forever

Thu, Jul 3rd, 2008
Posted in Commentary

The classes of 1968 will be meeting for 40 year reunions this summer. It would be a good time to be a caterer or a DJ with a great collection of classic rock, because there were a lot of us and we still eat and dance. We may well be seeing football ..... 
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Blame is not the solution to the oil problem

Fri, Jun 27th, 2008
Posted in Commentary

It is human nature to assign blame when confronted with painful realities. That is the case with four dollar per gallon gasoline. President Bush blamed environmentalists and, of course, the Democrats. In a transparent pander to the oil companies he ..... 
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Gifts that really give

Fri, Jun 20th, 2008
Posted in Commentary

Look around your house. Is yours, like mine, full of things you really don't need, or never use? How many of these things were gifts - gifts of love, perhaps - but things you could get rid of and not miss? It is high time that I weeded out. How abou ..... 
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Americans want things to be different

Fri, Jun 20th, 2008
Posted in Commentary

The Presidential contest has begun. Not that there are "official" candidates, but we all know who they will be. Yet undecided of course, are both the Democratic and Republican nominees for Vice-President. Even though Election Day is months away, I s ..... 
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Shop 'til it feels better

Fri, Jun 6th, 2008
Posted in Commentary

Archeologists and anthropologists have unearthed ancient civilizations and been able to determine the core values of their cultures from the stones and rubble left behind.  The Egyptians built pyramids and monuments to bury their kings and prin ..... 
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What do they really mean?

Fri, May 30th, 2008
Posted in Commentary

Several days ago I had a conversation with a friend and professional colleague. We've known each other about 5 years and have enjoyed many interesting exchanges. Our topics this day ranged a bit and finally settled on the economy, specifically, the ..... 
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Our Energy, Our Future

Fri, May 30th, 2008
Posted in Commentary

It seems like every time America discovers it has a crisis on its hands, our government wakes up and proposes a crash program to fix it. Henry Ford was one of the first to observe it and even coined a name for it: "the crisis-crash syndrome."

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