Convert Paulson’s Last $350 Billion Into A Tax Holiday

I had always entertained the thought that a President who wanted to drum up support for the FairTax could have easily done so by granting a period of Tax Amnesty (Article II, Section 2 of the United States Constitution) during which no one would have to pay any Federal taxes. It would be a small taste of what effect the FairTax would have on the national economy and when people see how relieving so much economic pressure would allow such a huge economic boom to occur, they would be writing letters to Congress urging the passage of HR 25 and S 1025.

Louie Gohmert has a similar idea except that he is going to try and push it through Congress. Not an easy task since the Democrats control both houses and the idea of not collecting taxes is a concept they seem completely incapable of grasping. But a two-month Tax Holiday would be exactly like having the FairTax for that same time period and it would more than jump-start our economy.

From a November 28, 2008 Press Release:

By instating a temporary tax holiday, we could electrify the American economy and provide overwhelming relief to taxpayers, all for less than the cost of the current failed Paulson-Pelosi bailout system.”

“We need to give this money to the people who earned it. I am sick of Washington millionaires trying to decide which of their cronies should get the next wad of taxpayer money,” Rep. Louie Gohmert continued. “Think about how much you would have if you didn’t have any social security or income tax withheld from your pay check, or if you didn’t have to pay those taxes for January and February! Americans could take and invest their own money where they believe it should go – to paying down mortgages, buying a new car, making credit card payments. The economy would get relief where it is needed the most. Why try to decide how to prevent foreclosures? Just give taxpayers their own money to catch up on their payments. Those in lower income brackets who are hit the hardest by the FICA tax would see huge money back, and then THEY could choose who should benefit from their hard earned money. Even the self-employed and small business owners would receive a fantastic amount of their own much-needed money, and they will be able to invest that back into their businesses and even create the ability to hire more people.”

Gohmert is currently preparing a bill to declare the tax holiday for January and February of 2009 and is also gathering support at the same time. He said, “We can save more home mortgages, increase employment, and boost economic growth for a lower price tag with this plan than with any centralized bureaucratic program, all by giving the power back to the taxpayers. I am demanding that not another penny goes to executive bailouts, but these billions of taxpayer dollars should go to the taxpayers who earned them.”

You can support the Tax Holiday by going to the following link and signing the petition:

Sign The Tax Holiday Petition!

You can access the original Press Release on-line here:

Convert Paulson’s Last $350 Billion Into Tax Holiday, Says U.S. Congressman
Rep. Louie Gohmert (R-TX)
November 28, 2008

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