Your Opinion: FairTax solution
Wednesday, October 3, 2012
By now we’ve all heard this week’s candidate comments around redistribution of wealth and 47 percent of Americans not paying income taxes.
These comments yet again highlight that our income tax system is broken and our nation is suffering, most especially young Americans ages 18-29.
In fact, 1.7 million of these young people have been jobless for the past year. This is the highest unemployment rate for that age group since World War II. This is a generation in danger of becoming the “lost generation.”
The FairTax® is the solution. The FairTax is a comprehensive plan to replace federal income and payroll taxes with a consumption tax on new goods and services.
While permitting no exemptions or exceptions, the FairTax provides a monthly, universal “prebate” or rebate, that ensures each household may consume tax-free up to the poverty level, thereby making the FairTax progressive.
With the FairTax, consumers will pay the actual price of a product or service with no hidden taxes, and workers will keep 100 percent of the wages they earn minus any state or local taxes. What all this means to America is powerful economic growth and desperately needed job creation.
The FairTax provides hope for bringing hundreds of thousands of lost jobs back to all America, for young and old. Please take a few moments to learn more at www.FairTax.org.