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Reader comment on:
Facing Up to an Aging America

Submitted by John Steinberger, Aug 4, 2007 06:24

With the wave of Baby Boomers poised to retire in the coming decades, we will not be able to sustain Social Security and Medicare with the current payroll tax. The payroll tax rates would have to be so high that small businesses would shut down and our economy would grind the a halt.

The solution is to broaden the tax base. The Fair Tax Plan eliminates the payroll tax (and all other taxes on income, investment and business) and replaces it with a national sales tax. Instead of 135 million workers and their employers paying to support the entitlement programs, 300 million consumers will support them.

Fair Tax will grow the economy at a faster rate than our current tax system, encourage small business creation and sustain the entitlement programs. Learn more at www.fairtax.org and encourage your members of Congress to co-sponsor the Fair Tax Act (HR-25/S-1025).

John Steinberger

Charleston, SC

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Other reader comments on this article

Comment By Date

With the wave of Baby Boomers poised to retire in the coming decades, we will not be able to sustain...

John Steinberger

Aug 4, 2007 06:24

We have the beginning of a solution to our social and economic problems that is already a bill waiting for... [MORE]

Dee Richards

Aug 16, 2007 13:37

It is political suicide to adress the looming shortfall, and it is exacesserbated by taxing income because this falls hardest... [MORE]

Dan Gutting

Aug 3, 2007 22:24

The FairTax bill HR25/S1025 has many aspects to help propel America forward economically as a progressive tax system that will... [MORE]

Doug Sleeth

Aug 4, 2007 10:26

It seems that our only options are: 1) Increase income taxation, 2) cut entitlements, or 3) broaden the tax base.... [MORE]

tea2dump

Aug 3, 2007 17:16

The suggestions in this article are a starting place to have more talk. The real answer is for leaders in... [MORE]

Norman Earley

Aug 3, 2007 09:51

Samuelson is correct in his observation that our elected leaders are ignoring the problem, primarily because the solutions are hard... [MORE]

Philip Hinson

Aug 3, 2007 07:33

We really must get serious about addressing this issue now. As any good Financial Planner knows for any good plan... [MORE]

Mark Haller

Aug 2, 2007 13:36

This is an absolutely brilliant suggestion. Who will have the nerve to accept the challenge? [MORE]

Mindy Dallas

Aug 1, 2007 14:52

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