One Response to “April 16th”

1. cslusser Says:
   April 18th, 2008 at 2:47 pm

   There has to be a major cut in government spending before there can be any further tax cuts, otherwise we’d just be borrowing more money.

   I think every single spending bill should be made completely transparent and viewable online by the public for at least 30 days prior to a final vote. And every single author of an earmark request should be made public and red-flagged, with that congressman’s picture, email address and website included. This is how you hold these folks accountable, and allow the taxpayers full access to see exactly how their tax dollars are being spent (wasted).

   I personally preferred the FairTax, which eliminates all income tax, corporate tax, estate tax, payroll tax, capital gains tax, etc. all in exchange for a 23% national sales tax. It would end the tax on productivity, end the incentives for warehousing cash offshore (an estimated $12billion is warehoused offshore currently), and level the playing field for the middle class and small business owners.

   The poor would get a leg up, because the first $28,000 in consumption each year would be rebated. So as long as an individual spends less than $28,000 per year, he/she essentially pays no taxes. It would also exclude items like used vehicle purchases (because the tax was already paid when it was originally purchased).

   The Beacon Hill Institute at Suffolk University (a free market thinktank)did an extensive study on the FairTax, and they concluded the study by saying:

   “In sum, while not everyone would gain from the introduction of the FairTax, gainers would outnumber losers by a factor of more than ten to one, and none of the losses would be large. There are few, if any, policy opportunities in the US that offer such large gains to so many people. Moreover, households in all income groups would, on average, experience increased welfare under the FairTax.”

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