| Dauphin, Schuylkill, Lebanon, Berks, Perry Counties, PA | May 18, 2010 Election |
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The Tax CodeBy Allen GriffithCandidate for US Representative; District 17; Republican Party |
This information is provided by the candidate | |
The tax code needs immediately revision to be a viable and equitable means of gathering revenue.Our present tax code is thousands of pages long. It has become a system of punishing some and rewarding others. It has also become a vehicle for redistributing wealth. There are various ideas for changing and modifying the current set up. For a time I was an advocate for the Flat tax or some variation of it. I have studied and become an advocate for what is called The Fair Tax. The Fair Tax is a consumption tax or as we would better recognize it- a national sales tax. It is a tax that would only be charged at the final retail purchase of an item and would be about 23%. The tax however would be built into the price of an item, not added on at the register. Why would it be good for America? The Fair Tax would eliminate the income tax, social security and medicare tax, corporate taxes, business taxes, estate taxes, investment taxes, capital gains taxes and more. You would never have to fill out tax forms again and the IRS would be eliminated. To help everyone, there would be a rebate/prebate paid monthly to every family to make up for taxes paid on necessities for living that you would purchase. If your salary is $40,000.00 per year, that is what you would get in your pay check. You would only pay tax when you bought an item. This tax approach would expand our economy and make money available for investment and accompanyinmg job creation. Sine January 1, 2010, over 500 of America's richest people have renounced their American citizenship and moved abroad, taking their money with them. Why? Overburdensome taxes. Under the Fair Tax, those people would not have had to fear losing thousands of dollars in tax money from their investments. They could have stayed right here and invested their funds. Yes, they would have profited, but their funds would have created jobs and made money available for loans for individuals and business. The Fair Tax needs to be fully reviewed via congressional hearings, but if it is as it appears, it would be the answer to expanding our economy and bringing us out of our national financial woes. Presently 47% of Americans pay no tax. The rest bear an inappropriate burden. We need a tax that is fair and equitable for all. I will work to bring in the Fair Tax. |
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