VIEW FROM HERE
By Bob McDowell (Born Neil Carson) Number 17-10
FAIRTAX UPDATE Week of 2017/03/06
Four weeks ago there was a brief discussion was done on the PRESDT promise of revising the income tax laws we have suffered through for these many decades and revisions, each making things worse. The result being the development of one of the largest and most corrupt and dictatorial departments in the US Government, the IRS. It has also been used to attack and intimidate those with opposite views to the sitting administration, even to the point of criminal indictments and jail time, all of which were blatantly illegal.
The imposition of an income tax is permitted under Constitutional Amendment XVI (16) which simply reads, in full: "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration". This socialist oriented amendment was ratified by the necessary number of states on February 3, 1913. A tax on the proceeds of one's labor or wisdom is, in my and many others opinions, unethical, immoral, and most regressive.
In 2005 a book titled "The FairTax Book" appeared as authored by then talk show host Neal Boortz and then Congressman John Linder, R-GA. While skeptical, after reading same my attention was captured and now believe it to be the answer to most, if not all, the fiscal problems of the USA. That is except for the tendency of those in government to spend in excess of revenue at all times, apparently expecting there to be an unlimited source of funds.
In essence, the FAIRTAX would replace ALL existing tax revenue to the federal government with a single 'embedded in sales price' of all goods at the point of FINAL retail sale. The tax, 23%, would be collected by the tax authority of each state and forwarded, less a 1/2% fee, to the US Treasury each month. Thus it would be a 'voluntary' tax, based on how much one wished to spend on the purchase of NEW items. The only report necessary for a family to make would be an annual statement of the number of individuals residing in the home. This would then be used to determine the amount of "prebate" to be paid each month, in advance, of the estimated amount of tax to be collected on the necessities of a poverty level family of that number reported.
Thus all corporate taxes would disappear, including withholding, and income. Items exported would not be taxed, as wholesale, and the bookkeeping costs of the employee taxes deducted would disappear, as well as the costs to both individuals and corporations would be totally unnecessary. There would be no: Social Security, Medicare, Death, Self-employment, alternative minimum, gift, capital gains as well as income tax.
This morning the office of OK-1 District Congressman Jim Bridenstine advised me that in the current new Congress House the FAIRTAX is HR 26 and that so far there are 36 House co-sponsors signed on, including three of the five from Oklahoma. In past sessions there have been as many as 62 co-sponsors, to my knowledge. Only Congressmen Cole and Russell are not in and in the 12 years that the proposal has been in the hopper, Cong. Cole has not to my knowledge ever been a co-sponsor.
My fear is that if the PRESDT stated program of a "three level" tax rate should prevail, the costs of filing, and payroll deductions would continue and could be 'tinkered with' by misguided members of future Congresses to the detriment of both individual citizens and the economy.
We all need, if this seems desirable or necessary, to lean on both Senators and our own, and others whose attention we might have, and secure their promise to 'get on board' and if not why not. The result would be a massive economic boom for our nation.
End
Composed February 23, 2017
Robert W. McDowell, Jr. © 2017 841 Lynwood Lane
918-451-1051 Broken Arrow OK 74011-8608
Email: abdmcfpi@localnet.com
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