Hey! Look!! Another #FairTaxFriday Post!!!

January 11, 2013 16:36 pm

by Nathan · 4 comments

Ok, don’t get too excited, but there was a press released earlier this week from Congressman Doug Collins (R-GA-9):

In addition to signing onto two balanced budget amendments to the Constitution, Rep. Doug Collins (R-GA) has become an original co-sponsor for H.R. 25, the Fair Tax Act. Sponsored Congressman Rob Woodall (R-GA), this legislation calls for a national consumption based tax and the elimination of the 16th Amendment.

“I campaigned on the need for serious reform to our tax code,” Collins said. “The Fair Tax is the best way to ensure hardworking Americans are able to keep more of their paychecks, and protect those same taxpayers from unjust financial intrusions by the federal government. This bill represents smart, fiscal policy that will provide the means to revolutionize our tax system and help ease the financial burden the Democrats in the Senate and the Obama Administration have placed on American businesses and families.”

Also, Neal Boortz has a petition on WhiteHouse.gov:

Invite Neal Boortz, the author of The FairTax Book, to spend one hour talking with the President about tax reform.

A petition to request that the President spend one hour discussing The FairTax, the most thoroughly researched tax reform legislation in history, with Neal Boortz and former GOP Congressman John Linder, co-authors of The FairTax Book and FairTax, The Truth.

He’s up close to 12,000 signatures as of 4:30p today.  He’s disappointed that he hasn’t reached 25K signatures….the minimum number required to generated an official response from the White House.  You can find the link to the petition on Boortz’s website, or you can click here.  Your choice.

IndyInjun January 11, 2013 at 8:15 pm

And pigs will fly……..

mpierce January 11, 2013 at 10:31 pm
Dave Bearse January 11, 2013 at 11:00 pm

Ah, yes. Revenue neutral tax reform that eliminates taxes paid by corporations, while everyone else pays less.

IndyInjun January 12, 2013 at 10:32 am

Corps aren’t after the elimination of cash tax payments, those are less than 3% of sales. What they are after is the $trillion of deferred income taxes in their GAAP financial statements as liabilities. Reversing out those liabilities – accumulated over many years – makes all of the “earnings” metrics explode, creating new fortunes in stock options and “performance” bonuses.

All for a paltry $100 million to the FT pumpers.

Comments on this entry are closed.