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Bid Farewell to Capgains Tax

Submitted by Rudy Treml, Jan 6, 2007 20:26

The current IRS and income tax on individuals and corporations is presently destroying the USA economy. A major portion of indiviluals have figured out how to take money from our treasury without input -- consequently they are completely dependent on Government. We are now in a situation were over 50% of the people are taking and not giving to the operation of our government. This situation will only get worst as more people figure out that they can vote themselve money/support.

Hence, the social problem we now have. Congress is buying votes with social programs and handouts. But, every year fewer people are paying into the government and more are on the take --- this situation places the USA in bankruptcy.

The only solution is a fair consumption tax on all goods and services with a prebate for the poor and seniors. This concept is already in the 110 Congress under the Fairtax Act/Bill HR-25 introduced on 1/4/07. The FairTax bill when passed will solve our SS and Medicare funding problems, allow us to pay down the debt, avoid yearly deficits, increase the GDP, and bring businesses back to the USA.

This is not a new concept but what our founding fathers set up for us in the Constitution of 1789. Please remember that until the citizens of this great land were tricked into voting for the 16 amendment to the Constitution in 1913, a income tax was unconstitutional as determined by the Supreme Court in the late 1980's. Our founding fathers knew that taxing income would lead to social engineering and the down fall of the Government, which is the situation we now hear about daily in the news.

And, please keep in mind that Corporations don't pay taxes, they only collect taxes for the government and when the Corporate income tax law was passed in 1909, many people called this income tax a evil tax since only people pay taxes. This is truly taxing without representation.

We need a change and that change is the Fairtax Bill in Congress HR-25, as written, eliminating the IRS and all forms of income tax on individuals and corporations. Jump start America and create another industrial revolution which will greater then man kind has after seen. Please read about the Fairtax concept at www.Fairtax.org and tell your Congress people to support HR-25, as written. Your vote counts in America, and if your Congress person will not support the Fairtax as written, vote them out of office. This is a non-paritsan issue for "we the people". A modern day grassroots movement -- the Boston tea party all over again --- our Congress has lost its way and we the people need to take control of our Government.

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Other reader comments on this article

Comment	By	Date
What a no brainer. I own two apartments and an insurance business. They will never sell as long as the... [MORE]	Ernie Harper	Jan 11, 2007 16:29
Okay I've heard your arguments in favor of this tax. But to think that internet sites ran by small business... [MORE]	Jared	Aug 6, 2007 07:32
Two words - FAIR TAX! It is what a rapidly growing number of Americans want because it is fair and... [MORE]	Jason Gill	Jan 9, 2007 22:15
Approximately 40-50% of Americans pay income taxes to cover the rest of us, including illegal immigrants. By switching to a... [MORE]	Paul Morris	Jan 9, 2007 14:16
Mr Epstein certainly understands the importance of the power of a tax system to influence decision making. I agreed with... [MORE]	Dan Gutting	Jan 7, 2007 19:05
If one has studied the Fair Tax in detail it explains how lower income workers benefit more under the Fair... [MORE]	Ed Luck	Jan 7, 2007 14:11
The FairTax (Consumption tax) will replace the illegal income tax which is good. But the income tax which did not... [MORE]	Doug S.	Jan 7, 2007 13:52
Mr. Epstein, This is quite a complicated discussion of a very complex issue. Imagine what individuals and businesses who have to... [MORE]	Keith Ritzler	Jan 7, 2007 13:33
The Capital Gains tax is not the only bad apple in the barrel. All the income-based taxes provide grist for... [MORE]	Chad Sargent	Jan 7, 2007 12:50
All talk about taxes should come down to one simply thing no matter what segment of taxes is talked about.... [MORE]	Tom Kropewnicki	Jan 7, 2007 11:46
In my opinion right now there are a lot of people who don't pay taxes, and if they did it... [MORE]	CJ	Jan 7, 2007 07:36
What a simply brilliant article. Concise and understandable to even the common reader. Modern tax policy is overwhelmingly complex and... [MORE]	Christian Hine	Jan 7, 2007 03:32
Last years HR25/S25 proposed doing away with all income based taxes on indivivuals and corporations and replacing them with a... [MORE]	William M Roberts	Jan 7, 2007 01:28
Thank you for that great article. Our nation needs to wake up to what is happening globally and put American... [MORE]	Kim Kilgallen	Jan 8, 2007 07:59
The current IRS and income tax on individuals and corporations is presently destroying the USA economy. A major portion of...	Rudy Treml	Jan 6, 2007 20:26
Mr. Epstein is correct in his breakdown of consumption tax versus income tax. When people have more ot their own... [MORE]	Larry D	Jan 6, 2007 20:12
I'll make this as brief as possible. If Mr. Epstein will spend as much time at Fairtax.org, as he apparently spent... [MORE]	William M. Tidwell	Jan 6, 2007 19:05
Professor Epstein makes very valid points about social and revenue gains to be achieved by reducing taxes on earnings and... [MORE]	Wayne Jett	Jan 6, 2007 13:18
If the citizens of the United States would Quit watching American Idle, and take the time to read the book... [MORE]	Joe Rafacz	Jan 7, 2007 12:30
If nothing else gets us sooner, inflation, for which there is no excuse, will!! Something to call one's own and is... [MORE]	Arthur H. Goldkamp	Jan 5, 2007 21:00
4While I do not disagree with Mr. Epstein's fundamental position, I believe his example is so unrealistic as to seriously... [MORE]	(Fr.) Wm. D. Loring	Jan 5, 2007 13:42

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