There is still nothing scheduled for the Freedom Caucuses’ alleged FairTax Act posted at the House Ways and Means Committee’s UPDATES.
The 25 Republican Co-Sponsors who promoted that destructing, oppressive, and power grabbing tax plan need to admit they were wrong in promoting it, or they should get primaried for their incompetency and failure to represent the best interests of their immediate constituents.
It would be so refreshing to hear those who supported the FairTax Act to admit they made a big mistake and then confirm they have learned a very important lesson about not studying proposed legislation before putting their name on it.
JWK
When Federal Reserve Notes were made a legal tender in violation of our Constitution, and a direct un-apportioned tax was imposed upon the people without their consent, America’s free enterprise, free market system was severely subjugated, and the tools of oppression and thievery were made available to some very immoral and nefariously evil people.
"In a forthcoming study to be published in Tax Notes Federal, we analyze the FairTax and find the proposed tax rate is far too low to achieve its sponsors’ stated goal of deficit neutrality.
The bill’s cited rate of 23 percent is “tax-inclusive,” meaning the tax is 23 percent of the total after-tax price. This corresponds to a 30 percent “tax-exclusive” rate, or the markup at the cash register. These rates, however, would be insufficient to replace current law income, payroll, and estate and gift tax revenue."
In addition to the 23 percent fair tax being insufficient to “replace current law income, payroll, and estate and gift tax revenue”, the authors of the article seem to forget the FairTax Act would create the largest federal entitlement in our nation’s history called the “Family Consumption Allowance”. And that in itself would add a staggering total to our annual federal deficit.
JWK
Today’s national debt, including unfunded debt liabilities, is well over $200 TRILLION!SOURCE
I have found no activity as of 3/17/2023 [today], on the FairTax Act of 2023 in the House Ways and Means Committee UPDATES.
Hopefully this deceptive power grab is finally dead.
The only question I have is, why have 25 Republicans, which includes “Freedom Caucus Members”, co-sponsored this proposed expansion of our federal government’s taxing abilities?
JWK
When Federal Reserve Notes were made a legal tender in violation of our Constitution, and a direct un-apportioned tax was imposed upon the people without their consent, America’s free enterprise, free market system was subjugated, and the tools of oppression and thievery were made available to some very immoral and nefariously evil people.
