Letter to the Editor: Fair tax
BY Tony Leach, Oklahoma City
Saturday, October 06, 2012
10/06/12 at 3:03 AM
Political parties want to tax one section more to help the other while the other political party wants to un-tax that same section to help the other in a different way.
They "help us" with temporary tax breaks meant to encourage us only to then use it for political gain when it's set to expire.
Why can we not take government control out of taxes altogether and just use taxes to generate revenue? The Fair Tax Act does just that and is designed to "replace" the current federal tax code (not just reform it) to remove all federal taxes on your income and move it to consumption. New goods and services only and above the poverty level ONLY (something a lot of people leave out when discussing it).
This means the poor are not burdened with a regressive tax, the middle class see a lowering of their overall tax rate while those wealthy individuals spending money on their expensive cars and yachts are the only ones paying the full rate.
It is a progressive national retail sales tax that you ONLY pay once you are done taking care of you and your family.
Studies show that the current cost of our tax code adds about 19 percent to 25 percent to the cost of goods and services. With these taxes stripped away, the market can drive prices down, meaning prices won't just increase.
You control your taxes with more money in your pocket every month.
Please research this wonderful bill; you may be surprised.
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