GraniteGrok

It sounds as though McCain is a bit disingenous on a previous comment that he WOULD SIGN the FAIRTAX BILL if it got to his desk. For him to make the comment that we'd "only tax Bentley's" completely misrepresents the FairTax which - in fact - frees American families to fully enjoy the fruits of their labor (no more withholding) while untaxing necessities (via the monthly cash prebate). While many who are invested in the current income tax system seek to demagog the well-researched FairTax plan (*), its acceptance in the professional / academic community continues to grow (**). Failure to enact the FairTax - choosing instead to try to "flatten" a NON-FLATTENABLE income tax system - will result in an IRREVOCABLE ECONOMIC MELTDOWN. (*** Impossible, you say?) Here is why the FairTax MUST replace the income tax. It's: • SIMPLE, easy to understand • EFFICIENT, inexpensive to comply with and doesn't cause less-than-optimal business decisions for tax minimization purposes • FAIR, loophole free and everyone pays their share • LOW TAX RATE, achieved by broad base with no exclusions • PREDICTABLE, doesn't change, so financial planning is possible • UNINTRUSIVE, doesn't intrude into our personal affairs or limit our liberty • VISIBLE, not hidden from the public in tax-inflated prices or otherwise • PRODUCTIVE, rewards, rather than penalizes, work and productivity Its benefits are as follows: FOR INDIVIDUALS: • No more tax on income - make as much as you wish • You receive your full paycheck - no more deductions • You pay the tax when you buy "at retail" - not "used" • No more double taxation (e.g. like on current Capital Gains) • Reduction of "pre-FairTaxed" retail prices by 20%-30% • Adding back 29.9% FairTax maintains current price levels • FairTax would constitute 23% portion of new prices • Every household receives a monthly check, or "pre-bate" • "Prebate" is "advance payback" for monthly consumption to poverty level • FairTax's "prebate" ensures progressivity, poverty protection • Finally, citizens are knowledgeable of what their tax IS • Elimination of "parasitic" Income Tax industry • NO MORE IRS. NO MORE FILING OF TAX RETURNS by individuals • Those possessing illicit forms of income will ALSO pay the FairTax • Households have more disposable income to purchase goods • Savings is bolstered with reduction of interest rates FOR BUSINESSES: • Corporate income and payroll taxes revoked under FairTax • Business compensated for collecting tax at "cash register" • No more tax-related lawyers, lobbyists on company payrolls • No more embedded (hidden) income/payroll taxes in prices • Reduced costs. Competition - not tax policy - drives prices • Off-shore "tax haven" headquarters can now return to U.S • No more "favors" from politicians at expense of taxpayers • Resources go to R&D and study of competition - not taxes • Marketplace distortions eliminated for fair competition • US exports increase their share of foreign markets FOR THE COUNTRY: • 7% - 13% economic growth projected in the first year of the FairTax • Jobs return to the U.S. • Foreign corporations "set up shop" in the U.S. • Tax system trends are corrected to "enlarge the pie" • Larger economic "pie," means thinner tax rate "slices" • Initial 23% portion of price is pressured downward as "pie" increases • No more "closed door" tax deals by politicians and business • FairTax sets new global standard. Other countries will follow (*) Tax Panel Rebutted (**) Econs' Open Letter to Congress (Lists every tax that FairTax will eliminate, together with the power they represent to pol's and lobbyists.) (***) Listen to an interview where Prof. Kotlikoff elaborates on the Meltdown In Progress! The time for sitting around, pontificating, is over. We have NO CHOICE but to demand Congress Scrap The Code - NOW!

FAIR TAX NOW, as written! OPERATION: OFF THE FENCE!