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Politics & Current Events / A Fair Tax
|Subject: A Fair Tax overview||Date: 1/31/2006 12:42 PM|
|Author: VIICaptain||Number: 2 of 13|
To Fools in the US:
There is a bill currently in D.C. to change our Federal tax system. HR 25 in the House and S 25 in the Senate. The full information can be found at www.fairtax.org and also in "The Fair Tax Book".
This bill would abolish the 16th Amendment, do away with Income and Payroll taxes and end corporate taxes. The Federal tax would be a single consumption tax with rebates to each head of household for the estimated taxes paid on basic living necessities
This sets the stage for many great things to happen. As this is an investing website I will focus on this aspect. After the passage of the bill the economy is projected to grow over 10% in the first year, personal savings would increase, personal investing would increase, corporate investments would increase, capital investments would increase, the US would be the preferred place to operate a business and our US businesses would be rid of the unfair tax burden when trying to sell their products overseas. The current drag create by the income tax would end and the boom the investor would find themselves a part of would be incredible.
Please visit www.fairtax.org, if you find yourself in favor of HR 25 and S 25 please sign the petition and email your representatives; all of which can be done at the website - and of course tells your relatives and friends to do the same.
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