Viewpoints: Letters / Opinions
Culprit of wealth division
By Paul Livingston
February 20, 2015
The culprit of wealth division is our federal tax code. The tax code has over 74,000 pages with $1.2 trillion in deductions, tax breaks, loop holes, etc. that go up in value with wealth and income. This is the buy and sell tax code game played by special interests, lobbyists and politicians. Do you think winners and losers are being picker? Do you think our present tax code leads to wealth division? Plus it divides us into classes. It has regressive taxes on jobs. The tax code is based on production (income, savings and investment). Production is what creates jobs, a higher standard of living and wealth for the country. Why punish good behavior?
There is a better way. Move the tax base from production to consumption with a progressive sales/consumption tax system with only one tax break that helps most the poor and low income. Thus we have a pay as you buy tax code with an effective tax rate that increases with the standard of living that one can afford to buy. The solution is the FairTax® bill HR 25. Minimum wage take home pay would increase by 27%.
Please learn more about the FairTax Prebate, join the “grass roots” organization and contribute at fairtx.org.
Received February 13, 2015
- Published February 20, 2015
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