I am going to use this week to urge Democrats and other liberals to take a serious look at the FairTax. With the current meltdown of the economy, the FairTax is a serious and viable tax replacement plan.
Today, I want to show you that the FairTax is a great financial assistance program for the poor.
First, by repealing the 16th Amendment and ridding ourselves of the IRS, we can for the first time in almost one hundred years take federal taxes off those who are poor.
Literally, everyone would receive their entire paycheck (no social security, medicare, or federal income tax deductions).
Second, everyone would receive a prebate at the beginning on the month to offset any sales taxes. The more you make the less you receive. The less you make the more you receive at the beginning of every month.
That means that not only do the poor not pay taxes, they also receive entitlements to help them pay for groceries, gas, and more.
Just think of the buying power that the poor will gain. They will not have to have those embarrassing food stamps. They will get money to help take care of their immediate needs. Low income households will receive 5 times the benefit of the higher income households.
This is the most progressive tax ever presented. Every Democrat should be jumping on this. Don't let your political hopefuls lie to you.
They are against this because they lose money from the Washington D.C. political machine that is working very hard to sway their vote.
Their argument is that the FairTax will have to be more to cover the costs. What they do not tell you is that they would be forced to cut spending. They do not want you to know that this tax would force them to work harder to keep spending under control.
What would spending control do for the U.S.?
The largest problem the U.S. dollar has right now is that the United States is in debt. Every time the Treasury prints more money it creates more inflation. The higher the inflation the more volatile the interest rates.
Spending controls force the government to balance the budget which reduces the amount of tax needed to run government. Don't let them deceive you. Vote for the FairTax by putting FairTax candidates in office.
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Support the FairTax!
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