Monday, July 02, 2007

Robert Novak writes a political round up. He says Newt Gingrich will consider running for president only if Thompson’s campaign tanks…Doesn’t look like that will happen.

Although, it appears Fred Thompson was taken by surprise in South Carolina when more people showed up wearing FairTax stickers rather than Fred Thompson buttons. It seams Thompson didn’t know what the FairTax was, well that is not good…maybe he is a quick learner…

2 comments:

RepublicanWomenAgainstFred said...

There seems to be a lot of things coming to the surface that Freddie doenst know. This is just the beginning.

Ian said...

I'd be surprised if FairTax.org had not reached out to Thompson's camp. They're "ahead of the curve," and are out to educate the American public about the dire straights that America faces if they don't dump the tax on income.

What does this say about Fred Thompson? It says: Better vote for Mike Huckabee! (THAT man tells it STRAIGHT. What could be MORE important??!)

Here is why the FairTax will make a good U.S. tax system REPLACEMENT. The FairTax is:

• SIMPLE, easy to understand
• EFFICIENT, inexpensive to comply with and doesn't cause less-than-optimal business decisions for tax minimization purposes
• FAIR, loophole free and everyone pays their share
• LOW TAX RATE, achieved by broad base with no exclusions
• PREDICTABLE, doesn't change, so financial planning is possible
• UNINTRUSIVE, doesn't intrude into our personal affairs or limit our liberty
• VISIBLE, not hidden from the public in tax-inflated prices or otherwise
• PRODUCTIVE, rewards, rather than penalizes, work and productivity

Its benefits are as follows:

FOR INDIVIDUALS:
• No more tax on income - make as much as you wish
• You receive your full paycheck - no more deductions
• You pay the tax when you buy "at retail" - not "used"
• No more double taxation (e.g. like on current Capital Gains)
• Reduction of "pre-FairTaxed" retail prices by 20%-30%
• Adding back 29.9% FairTax maintains current price levels
• FairTax would constitute 23% portion of new prices
• Every household receives a monthly check, or "pre-bate"
• "Prebate" is "advance payback" for monthly consumption to poverty level
• FairTax's "prebate" ensures progressivity, poverty protection
• Finally, citizens are knowledgeable of what their tax IS
• Elimination of "parasitic" Income Tax industry
• NO MORE IRS. NO MORE FILING OF TAX RETURNS by individuals
• Those possessing illicit forms of income will ALSO pay the FairTax
• Households have more disposable income to purchase goods
• Savings is bolstered with reduction of interest rates

FOR BUSINESSES:
• Corporate income and payroll taxes revoked under FairTax
• Business compensated for collecting tax at "cash register"
• No more tax-related lawyers, lobbyists on company payrolls
• No more embedded (hidden) income/payroll taxes in prices
• Reduced costs. Competition - not tax policy - drives prices
• Off-shore "tax haven" headquarters can now return to U.S
• No more "favors" from politicians at expense of taxpayers
• Resources go to R&D and study of competition - not taxes
• Marketplace distortions eliminated for fair competition
• US exports increase their share of foreign markets

FOR THE COUNTRY:
• 7% - 13% economic growth projected in the first year of the FairTax
• Jobs return to the U.S.
• Foreign corporations "set up shop" in the U.S.
• Tax system trends are corrected to "enlarge the pie"
• Larger economic "pie," means thinner tax rate "slices"
• Initial 23% portion of price is pressured downward as "pie"
increases
• No more "closed door" tax deals by politicians and business
• FairTax sets new global standard. Other countries will follow

While many vested interests are motivated to demagog this well-research plan, those who want to become part of the solution ( http://snipr.com/ftnow ) can learn more.