The Definition Of Fair And A Letter Of Support For The FairTax

The Editorial Staff at the Augusta Chronicle put out a pretty good essay about the FairTax last month. They basically said that just because the Democrats won both houses of Congress and the White House doesn’t mean that the FairTax is dead. Nope, in fact, far from it.

The idea is as viable as ever and the cause is growing. Here is some of what they said:

A proposed 23-cent national sales tax, the Fair Tax would replace the current federal system of taxation — meaning no income tax and no Social Security tax.

That means power to the people, because, first of all, they get their entire paycheck. Secondly, they determine the amount of tax they pay by the decisions they make on their purchases.

The Fair Tax also contains a feature called a “prebate” — money that would wipe out federal taxes completely for those at or below the poverty line.

Ironically, even as Democrats who have not quite warmed up to the idea are set to take control of both Congress and the White House, a new benefit of the Fair Tax has arrived: If taxpayers received more of their paycheck in take-home pay, they would be more equipped to make their mortgage payments. So perhaps fewer Americans would be losing their homes to foreclosure.

Barack Obama has already admitted that he is not the Messiah and that the economy is going to get worse before it gets better. I am absolutely certain it will get worse because history has shown us that socialist tax increases coupled with government deficit spending merely prolongs our economic plight. Thus, as the economy worsens over the next four years due to Democrat meddling, I believe people will want real reform in D.C. The FairTax can deliver that.

More:

And just imagine how much more luminous and fragrant the spring would be if you didn’t have wrestle the IRS every April! And guess what that wrestling match costs Americans every year: $265 billion in tax preparation costs.

That alone is cause for dumping tea in Boston Harbor.

It’s too bad that some have demagogued the Fair Tax, especially at election time. It’s not a tax increase; it’s tax reform of the best kind, because it shifts power from Washington to the people.

The Fair Tax is so-called because it brings the underground economy into the light, and closes the many loopholes the powerful exploit to avoid taxation. Moreover, experts predict it will prompt offshore assets to flow back to the United States. Why? Because they would no longer need to hide from the long nose of the IRS.

Philosophically it’s a winner, too, because it shifts taxation from industriousness and production to consumption. Such a reward of hard work and investment would be just the thing a struggling economy such as ours could really use.

Absolutely.

You can access the complete editorial on-line here:

The Definition Of Fair
Editorial Staff
Augusta Chronicle
November 16, 2008

An Open Letter To The President, Congress And The American People

And who supports the FairTax? Hundered of Economists and Professors from our nation’s most prestigious institutions. Check out who signed the above letter:

Donald L. Alexander
Professor of Economics
Western Michigan University

John Greenhut, Ph.D.
Associate Professor
Finance & Business Economics
School of Global Management and Leadership
Arizona State University

Ben Pierce
Central Missouri State University

Wayne Angell
Angell Economics

Darrin V. Gulla
Dept. of Economics
University of Georgia

Michael K. Pippenger, Ph.D.
Associate Professor of Economics
University of Alaska

Jim Araji
Professor of Agricultural Economics
University of Idaho

Jon Halvorson
Assistant Professor of Economics
Indiana University of Pennsylvania

Robert Piron
Professor of Economics
Oberlin College

Ray Ball
Graduate School of Business
University of Chicago

Reza G. Hamzaee, Ph.D.
Professor of Economics &
Applied Decision Sciences
Department of Economics
Missouri Western State College

Mattias Polborn
Department of Economics
University of Illinois

Roger J. Beck
Professor Emeritus
Southern Illinois University, Carbondale

James M. Hvidding
Professor of Economics
Kutztown University

Joseph S. Pomykala, Ph.D.
Department of Economics
Towson University

John J. Bethune
Kennedy Chair of Free Enterprise
Barton College

F. Jerry Ingram, Ph.D.
Professor of Economics and Finance
The University of Louisiana-Monroe

Barry Popkin
University of North Carolina
at Chapel Hill

David M. Brasington
Louisiana State University

Drew Johnson
Fellow
Davenport Institute for Public Policy
Pepperdine University

Steven W. Rick
Lecturer, University of Wisconsin
Senior Economist, Credit Union National Association

Jack A. Chambless
Professor of Economics
Valencia College

Steven J. Jordan
Visiting Assistant Professor
Virginia Tech
Department of Economics

Paul H. Rubin
Samuel Candler Dobbs
Professor of Economics & Law
Department of Economics
Emory University

Christopher K. Coombs
Louisiana State University

Richard E. Just
University of Maryland

John Ruggiero
University of Dayton

William J. Corcoran, Ph.D.
University of Nebraska at Omaha

Dr. Michael S. Kaylen
Associate Professor
University of Missouri

Michael K. Salemi
Bowman and Gordon Gray
Professor of Economics
University of North Carolina
at Chapel Hill

Eleanor D. Craig
Economics Department
University of Delaware

David L. Kendall
Professor of Economics and Finance
University of Virginia’s College at Wise

Dr. Carole E. Scott
Richards College of Business
State University of West Georgia

Susan Dadres, Ph.D.
Department of Economics
Southern Methodist University

Peter M. Kerr
Professor of Economics
Southeast Missouri State University

Carlos Seiglie
Dept. of Economics
Rutgers University

Henry Demmert
Santa Clara University

Miles Spencer Kimball
Professor of Economics
University of Michigan

John Semmens
Economist
Phoenix College
Arizona

Arthur De Vany
Professor Emeritus
Economics and Mathematical Behavioral Sciences
University of California, Irvine

James V. Koch
Department of Economics
Old Dominion University

Alan C. Shapiro
Ivadelle and Theodore Johnson
Professor of Banking and Finance
Marshall School of Business
University of Southern California

Pradeep Dubey
Leading Professor
Center for Game Theory
Dept. of Economics
SUNY at Stony Brook

Laurence J. Kotlikoff
Professor of Economics
Boston University

Dr. Stephen Shmanske
Professor of Economics
California State University,
Hayward

Demissew Diro Ejara
William Paterson University of New Jersey

Edward J. López
Assistant Professor
University of North Texas

James F. Smith
University of North Carolina
at Chapel Hill

Patricia J. Euzent
Department of Economics
University of Central Florida

Franklin Lopez
Tulane University

Vernon L. Smith
Economist

John A. Flanders
Professor of Business and Economics
Central Methodist University

Salvador Lopez
University of West Georgia

W. James Smith
Dean of Liberal Arts and Sciences and Professor of Economics
University of Colorado at Denver

Richard H. Fosberg, Ph.D.
William Paterson University

Yuri N. Maltsev, Ph.D.
Professor of Economics
Carthage College

John C. Soper
Boler School of Business
John Carroll University

Gary L. French, Ph.D.
Senior Vice President
Nathan Associates Inc.

Glenn MacDonald
John M. Olin Distinguished Professor of Economics and Strategy
Washington University in St. Louis

Roger Spencer
Professor of Economics
Trinity University

Professor James Frew
Economics Department
Willamette University

Dr. John Merrifield
Professor of Economics
University of Texas-San Antonio

Daniel A. Sumner, Director,
University of California
Agricultural Issues Center
and the Frank H. Buck, Jr.,
Chair Professor,
Department of Agricultural and Resource Economics,
University of California, Davis

K. K. Fung
University of Memphis

Dr. Matt Metzgar
Mount Union College

Curtis R. Taylor
Professor of Economics and Business
Duke University

Satya J. Gabriel, Ph.D.
Professor of Economics and Finance
Mount Holyoke College

Carlisle Moody
Department of Economics
College of William and Mary Robert Vigil
Analysis Group, Inc.

Dave Garthoff
Summit College
The University of Akron

Andrew P. Morriss
Galen J. Roush Professor of Business Law & Regulation
Case Western Reserve University School of Law

John H. Wicks, Ph.D.
Professor Emeritus
Department of Economics
University of Montana

Ronald D. Gilbert
Associate Professor of Economics
Texas Tech University

Timothy Perri
Department of Economics
Appalachian State University

F. Scott Wilson, Ph.D.
Canisius College

Philip E. Graves
Department of Economics
University of Colorado

Mark J. Perry
School of Management and Department of Economics
University of Michigan-Flint

Mokhlis Y. Zaki
Professor of Economics Emeritus
Northern Michigan University

Bettina Bien Greaves, Retired
Foundation for Economic Education

Timothy Peterson
Assistant Professor
Economics and Management Department
Gustavus Adolphus College

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One Response

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