Terrell: Eliminate Fed Reserve With Sales Tax

There is one thing that would, for certain, jump-start the U S economy and create MANY JOBS.  Expect career politicians and congressional lobbyists to resist it mightily.  The reason; its adoption would adversely affect all their pocket books and seriously diminish congress’s power over and control of American citizens.  It’s called The FairTax.

The FairTax is a “consumption” tax; a national sales tax.  The IRS would be annihilated; nobody pays income tax anymore and no payroll taxes paid by businesses or employees.  Every earner keeps ALL THEY HAVE EARNED!  The price of all American made goods would drop by an estimated 22%.   That is the figure researchers estimate the income tax and the payroll taxes add to the cost of everything produced in America.

The national sales tax rate would be 23%.  So there’s no increase in cost-of-living for Americans.  But economists estimate that in the first year after the FairTax becomes law, the economy will grow over 10%, exports will grow by 26% and capital spending will increase over 70%.  There are many additional advantages of the FairTax!  Read The FairTax Book to learn much more.

Then ask your congressional candidates about The FairTax and insist they support it!

Glen Terrell, Arlington, Texas