Tuesday, August 16

The Fair Tax is " Family Friendly Tax Reform "

For Latinos that rely on every dollar they make to support their families, this sounds great! I lived in FL for many years, and I will tell you, now that I live in CO, I hate seeing my hard earned income get hit twice--once by the Feds, and a second time by the State. Merrill Bender wrote this over at RedState.org, and it's worth passing on. He does a great job comparing it to Forbes flat tax idea, which I no longer support!
The Fair Tax package eliminates all Personal and Business income taxes, payroll taxes, AMT, and Death taxes. Due to these eliminations, prices will drop 22 to 25% and then the Fair Tax replaces them all with a revenue neutral federal retail sales tax on new products and services. Consumers will pay about the same as they do now.

American business and American labor should take strong note of the fact that exports are not taxed; thus the Fair Tax will provide a boom to American manufacturing because American products will be 22% lower in price for sale overseas. We can't compete with low wage countries but we can compete with lower taxes on business, products and services made in America. The result is a boom to the economy and a boom to better paying manufacturing jobs in America.
Check out the Fair Tax Reform blog and Bender's post titled, Give Every American Family A Raise.