Augusta Free Press
…If we stop taxing BK and instead tax the customer, we arrive at the same result. But why should we change? Because taxing BK taxes productivity, and taxing the customer taxes consumption – but the customer will have the same purchasing power. We stop taxing the customer’s income too. If we change, Tim Hortons will re-domicile in the US rather than BK re-domicile to Canada.
Will the plan work? Peer-reviewed academic and market research says yes. Is there a proposal in Congress today to change our tax code to keep BK in the US? Indeed there is. The Fair Tax Act of 2013, with 87 sponsors, replaces Subtitles A, B and C of the Internal Revenue Code with a national tax on all services and all new tangible goods sold at retail to a consumer in the United States.
The FairTax®, as the bill is known, also phases out the IRS over a three-year period and requires the destruction of its records of “ABC” taxes, except those records needed to calculate Social Security Benefits and to support ongoing litigation. A Family Consumption Allowance assures that lawful residents of the United States, regardless of income, pay no tax on essential consumption up to the poverty level. To learn more, go to www.fairtax.org.
– Jim Bennett
This article is published in full, here.