CALIFORNIA FAIRTAX ACTIVIST FINDS TREASURE; THE REAL “PHASE II”
Thanks to our California FAIRtax-er, Nancy Keesee for calling our attention to a published letter to Harvard Magazine by fellow-California FAIRtax-er, Richard Rettig (Harvard ’51). Harvard Magazine has a circulation of 240,000 among Harvard alumni, faculty, and staff in the United States (source: Wikipedia). You may have heard that President Trump is promising us a “Phase II” to tax reform. Here is Richard’s vision of Phase II.
“What would “Tax Reform—Round Two” look like? Round Two exists!—It’s been long buried in Congress, the bipartisan 2017 Fair Tax Act (HR25, S18). The act was first introduced in 1999, thoroughly researched and developed by some 80 leading economists, including a Nobel laureate.
“It’s the best tax plan ever, but Congress won’t mention it. Why? Because it abolishes the IRS, and members of both parties would lose their power and money-selling tax favors.
“The proposed legislation rids businesses and individuals of the income tax, replacing it with a retail sales tax. Instead of raising government revenue by taxing the relatively few who have income, the Fair Tax Act taxes everyone in the U.S., not only citizens but all who buy services or new goods. For the first time, undocumented aliens and criminals pay taxes, plus the hordes of tourists visiting the U.S. No one avoids paying taxes!
“To make the tax truly fair, all citizens receive a monthly sum based on family size— their yearly total depending on the government’s definition of poverty.
“With the Fair Tax the government’s revenue may exceed what the income tax now brings in. Prices may drop significantly as the huge, unacknowledged costs of the income-tax system evaporate: businesses and individuals will no longer waste time confirming earnings and justifying deductions; tax-avoidance experts won’t need to be paid; non-productive tax record-keeping will be eliminated; and businesses that collect tax revenue will file a vastly simplified, one-page monthly form.
“All will love the Fair Tax—except congressional leaders losing their power!
“Richard G. Rettig ’51 Oceanside, Calif.”
(Reprinted from Harvard Magazine, July August 2018 Vol. 120, No. 6, at pp. 4-5.)
You too can spread the FAIRtax word as Richard did by submitting a few sentences in favor of the FAIRtax to your local print, on-line, or social media. Good luck!
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