Peter Stern — In Response….

… to Terrell’s letter to get rid of the Fed Reserve with Sales Taxes:

While I agree that the Federal Reserve needs some cleaning up and/or overhaul, I don’t know if it is in our best interests to get rid of it completely.  In addition, sales taxes are just another regressive form of taxation, meaning, they hurt middle class and lower income people the most.  The wealthy benefit from increasing sales taxes more than others.

So, the “Fair Tax” really is not fair for all Americans.  That said, we need to restructure and improve on the Federal Reserve and the powers provided to the members.  Currently, the Fed is not working in our best interests.  However, to “kill” the FRB would turn such functions over to the 2 reigning political parties, which could be worse for all of us.

Peter Stern, Driftwood, TX