Letter: The Fair Tax Act will encourage more companies to not go overseas

Published: Thursday, Nov. 22 2012 12:00 a.m. MST

The income tax creates a stagnant economy for the United States. Companies have moved overseas to give their investors a tax advantage. They will not return to the U.S. until our system gives them an advantage in the world market.

Jacquelyn Martin, Associated Press

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The income tax creates a stagnant economy for the United States. Companies have moved overseas to give their investors a tax advantage. They will not return to the U.S. until our system gives them an advantage in the world market.

The answer to this is the Fair Tax Act (H.R. 25). It will eliminate income tax and the Internal Revenue Service, jump start the economy, bring jobs back to the U.S. and capture untaxed dollars lost to criminal and offshore businesses. It will allow people to keep 100 percent of their paycheck, let them save all the money they want and pay taxes only when they spend it, eliminate taxes they don't even know they are paying, lower interest rates and make April 15 just another beautiful spring day.

If everyone tells their congressman to support H.R. 25, we can turn this economy around as soon as it is enacted.

Roy Newsom

Granbury, Texas

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