These are just some things I see going on with the current state of the economy:
-High (and gradually rising) oil prices
-Volatility/instability in the stock market
-The decline of the USD currency
-American companies taking their jobs and business overseas
-High (and steadily rising) tuition costs
-Rising costs on food and other consumer goods and services
-Nationwide mortgage crisis
-Massive national debt
-The massive costs of wars in Iraq and Afghanistan
Do you pay attention to what's going on with the economy? Have you changed your spending habits as a result? Have you changed future plans, such as travel, or buying a vehicle or a home?
Every one of these points could and will be fixed once the FairTax is in place.
1. Oil Prices: Federal Taxes, both embedded and Direct will be elliminated, reducing the Prices Spent on Gas by Billions a year.
2. Stock Market: Introducing the FairTax eliminates Captial Gains Taxes and Income Taxes that would leave every individual more disposible Income to invest, which would create new jobs and an increase stock Market.
3. Value of the Dollar: The Reason the Value of the Dollar is going down is because the Government has to print more money to cover the Cash and Curreny leaving our shores because of our punishing Tax Code, Corporations are moving vast sums of money, as are individuals, to offshore accounts, leaving Trillions out of the Economic Playing Field. What would happen if this $11 to $12 Trillion came back home, working in our economy, making new jobs?
4. Jobs moving overseas: Again, our Current Tax code punishes corporations that has the jobs in the First Place. Eliminate the Corporate Tax Codes, and you will see more jobs moving here from Foreign Shores as this country would be a Tax Haven for Business. Imagine a world where you have more jobs than people able to work them! Under the FairTax that is possible as this country would be the only country on the planet with ZERO Corporate Tax Code.
5. Tution: College Education, and really ALL education is untaxed under the FairTax, as it is considered an investment for your future. The Higher your level of Education, the more money you earn, the more money you spend, the more you contribute to the Economy and General Revenue of our Country. So, Education is TAX FREE!
6. Food Cost: Food only Costs more because of the Tax Code and that makes for a Weaker Dollar. With the FairTax, you have more Dollars because of no Income Tax and Payroll Tax. And you receive a Prebate, that would pay you back for ALL the Tax Liability up to the Poverty Level. So, you effectively UNTAX the Poor. Can you imagine a more Progressive Tax System than one where you do not Tax People at all up to the Poverty line?
7. Mortages: Again, Prebate+No Embedded Tax on Homes+No Income Tax+More Disposbile Income=Better Housing Market with lower Interest Rates due to Higher Investing.
8. Nationa Debt: Again, Higher Economy equals more Revenue for the Government, plus more visibility in the Tax code, you know were each and every penny of your taxes are going, you have a louder voice to the Government.
9. Wars (And every other Government Program you don't agree with): You vote with your Dollar, unlike in today's Tax Code, you have a louder Voice. In our Current tax code, your Taxes are taken from you before you ever see it (Income Taxes) or it is hidden in every purchase (Embedded Corporate Taxes). You never know the True Cost of your Tax Liability. Under the FairTax, you are not taxed until Purchases AFTER the Poverty level (Around $10,100 a year). So, if you don't agree with something the Government is doing, vote with your dollars. Don't buy anything, Protest with your money. If everyone does it, and they can't afford the war, or program, so on and so forth, and you call them and tell them that you won't spend anymore money until after they Stop doing what ever you don't agree with. You force their hand. You make them stop. Under our Current Tax Code, you have no choice, no extra voice. Under the FairTax you have more Power with your Government.
These are just a few Reasons I support the FairTax, if you would like to know more, visit my thread. The Link is in my Signature. Ask any question you may have. I'll answer it, or if I don't know it, I'll find out for you.
Thanks.
