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

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  • Truthseeker SLO, CA
    Nov. 23, 2012 10:49 a.m.

    Bruce Bartlett, served as Deputy Director on the Joint Economic Committee under Ronald Reagan and Treasury official under HW Bush, wrote an article, "Why the FairTax Won't Work." Anybody interested in this issue and desiring a more thorough understanding should read this interesting evaluation.

  • one old man Ogden, UT
    Nov. 22, 2012 7:16 p.m.

    I actually Googled up this tax proposal and read part of it. It's almost as long as the Affordable Care Act.

    I'm not an attorney, but I think I could see many, many loopholes in it. It MIGHT be a good idea. But only if it is crafted very tightly and very carefully.

  • Hemlock Salt Lake City, UT
    Nov. 22, 2012 4:41 p.m.

    Most people smart enough to succeed in making money are also smart enough to minimize their taxes. Our legislators who have been shielded from reality will pass laws with unintended consequences and smart accountants and attorneys will circumvent paying high taxes. This has been a historical fact and it will not change. Finding the lowest tax bracket is not more unethical than finding ways to receive government subsidies for those who do not want to work.

  • killpack Sandy, UT
    Nov. 22, 2012 4:15 p.m.

    Thank you, Roy Newsom of Texas! Finally someone with sense! Raising taxes on the wealthiest Americans by most estimates will create less than $100 billion per year in added revenue. That's the upside. The downside far outweighs this benefit. What is that downside? Well it's something that the incompetent men and women in Washington simply must not have considered. That is, that the wealthy are simply not going to pay that $100 billion. Impossible, you say. They have to pay it, you say. It would be wrong for them not to, you say. Well I'm saying no, they are not going to pay it. They'll hire an army of accountants and tax lawyers to get them out of paying. Or, if that doesn't work, they'll just move to Hong Kong or Singapore. It's simple economics. Either radical changes need to be made to the tax code, like a Fair Tax, or watch all of the moneymakers in this countries run for their lives, taking everything of value with them. They simply are not going to keep producing while freeloaders keep consuming.

  • Ultra Bob Cottonwood Heights, UT
    Nov. 22, 2012 11:37 a.m.

    The income tax creates a stagnant economy for the United States, is a lie.

    Threats like “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”, are referred to as BLACKMAIL.

    The Fair Tax Act (H.R. 25) is not fair. The most fair tax to support our government would be a flat income tax on every income, from every source, without exemption and without deduction.

    It will allow people to keep 100 percent of their paycheck, is a lie. We work to obtain money to be spent on the things we want and need. Things we cannot live without. If the price we pay is raised, we will only be able to buy less of the things we need.

    “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”, sounds awfully like the grandiose promises of the scam artists.

  • Shaun Sandy, UT
    Nov. 22, 2012 8:05 a.m.

    Dennis kucinich 2010 bill was a thousand times better than the fair tax bill and it went no where. We wouldn't even have federal taxes if we would let our own government create our money supply instead of privately owned banks.