Fair Tax Forum Coming to Pasco on Oct. 25
The Fair Tax Foundation is presenting a look at alternative tax systems.
First introduced to Congress in 1999, the Fair Tax Act would replace our current income tax structure with a national sales tax on goods and services. Started by Americans for Fair Taxation, the plan has surfaced a number of times and has received some support, but has never gained enough traction to seriously threaten the current IRS-based system.
In 2005, then-President Bush appointed a committee to study the plan, and several of its ideas were recommended for implementation.
During the 2008 Presidential campaign, several candidates supported the idea. In 2009, a Rasmussen poll showed 43 percent of Americans would favor eliminating income, social security, payroll and the other myriad of taxes we now pay.
The bill would also, after three years, completely eliminate the IRS. Citizens would control the amount of taxes they pay with their expenditures. The money would go directly to the U.S. Treasury.
President Obama strongly opposes the idea, as do most Democrats and Liberals.
The Fair Tax Foundation will present a public forum Friday, Oct. 25, at Bank Reale in West Pasco at 5205 North Road 68.
The event will be from 7-9 p.m. and is open to the public.
From the Fair Tax news release:
How eliminating the Income Tax Code & the IRS will create financial wealth for all Americans, provide more revenue to the Federal Treasury, allow American Businesses to prosper and grow jobs and spur economic growth in America never before seen in its history nor in the history of the world."
More information on the forum may be obtained by calling 509-366-6349.