September 26, 2013
Thursday PM

The Fair Tax is a Fraud we need a 10% Tithe!

This is from a retired CPA, with no financial interest in ANY tax system. I can support every comment I make with much detail.

The so-called Fair Tax ( FT ) is a fraud it is Karl Marx on steroids AND a Bernie Madoff financial scam.

In their own words, FT proudly advertises that it INCREASES WELFARE via its Prebate.

The FT hits us with a 40-70% in-your-face retail sales tax that would spark a taxpayer rebellion that would destroy our 70% retail-sales-sensitive economy. 40% = 30% FT + e.g., 10% State sale sales tax and 70% is the rate needed at a sample 30% FT evasion rate (the FT incredibly assumes ZERO evasion and ZERO intentional reduction in spending).

IN ADDITION to that 40-70% tax, the FT contains several HIDDEN TAXES.

The NEW IRS will be far worse, far more invasive than today s IRS we may well have to file an Annual FT Summary .

We may well wind up with BOTH a NEW Income Tax AND the FT.

What we need is a Flat Income Tax with No Deductions, No Exemptions, No Credits and a 10% rate. Sadly your U.S. Rep. has Co-Sponsored the disastrous FT.

Call your representatives in Congress and let them know that this is what you want.

For supporting details, call Stephen C. Eldridge tel. 423-532-7337

Stephen C Eldridge
Cosby, Tennessee

About: "Retired tax lawyer/CPA, co-author of a 3 volume Income Tax treatise, international lecturer"

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