The Reagan FairTax

Here are excerpts from a letter sent by Ronald Reagan's son.

Bruce

It is time and past time for our next tax revolution.

As my father said: "We need true tax reform that will at least make a start toward restoring for our children the American Dream that wealth is denied to no one, that each individual has the right to fly as high as his strength and ability will take him. . . . But we cannot have such reform while our tax policy is engineered by people who view the tax as a means of achieving changes in our social structure."

The FairTax Bill now being considered in Congress, with more than 60 Senators and Members of the House of Representatives sponsoring the FairTax Bill. Why does the FairTax bill have so much support?

Because the FairTax will:

•Eliminate forever all federal income taxes, Social Security taxes, pension taxes, capital gains taxes, taxes on businesses small and large, death taxes and all federal payroll deductions, and replace them with a single sales tax on new items purchased at retail.

•Shut down the IRS, and assign the 67,500-page, hopelessly complex US Tax Code to the trash pile.

•Free our clergy and other religious leaders to preach what they choose from their pulpits, ending forever the power of the IRS to censor freedom of religion in America and close congregations with which they disagree.

•Attract trillions of dollars into the U.S. economy currently in offshore accounts hiding from income and other federal taxes.

•Expand the national tax base dramatically to include taxation of those who illegally avoid taxation, such as drug dealers, illegal aliens and other criminals, or who benefit from special tax breaks given to the politically powerful.

•Lift the weight of federal taxes and payroll deductions entirely from millions of working poor and retired people.

•Reduce Taxes on Honest Americans by expanding the tax base to tax illegal immigrants, drug dealers and others who earn money illegally, and those who rich enough and powerful enough to make tax loopholes for themselves in the 67,500 pages of fine print in the impossibly complex U. S. Tax Code.

The FairTax is the shortest path to full economic recovery and millions of new jobs, ending Congressional corruption of the tax code and providing significant tax relief to the middle class. The FairTax is our one real hope of creating the economic boom we need to deal with the massive and growing budget deficit.

It is time the political class heard from the rest of us about public policy that actually benefits the public instead of Washington insiders.