Friday, July 15, 2011

Economic vision, Part 3: A fairer tax ~ By Herman Cain

Replacing the current tax code with the Fair Tax is Phase 2 of my Economic Vision for America, discussed in Parts 1 and 2 in the two previous commentaries. We must take some time to introduce and explain the concept of shifting taxation from income to consumption, and how it is fairer, flatter, simpler and less burdensome and costly than what we are doing today.

As president, I will end the insanity of the current tax code.

It's common sense.

One of the major reasons why I support Herman Cain is because he favors the Fair Tax method for collecting revenues, rather than the graduated (progressive) income tax, payroll taxes, corporate taxes, and death taxes.

Our current system of income tax has become a complex monstrosity. Unless you are filing a 1040-EZ, the complexities may require you to have somebody else with tax preparation expertise to prepare your taxes for you. Another major problem with the income tax system as it is now is that it has allowed our U.S. Representatives and Senators to be lobbied into giving tax breaks to special interests. But, of course, the major problem will always be that the income tax, being graduated - meaning that the higher the income, the higher the rate an individual has to pay - is nothing but redistribution of income. That's right, folks, the graduated income tax is one of the 10 planks of the Communist Manifesto.

There seems to be several major issues that Conservative and/or Republicans voters may have with the Fair Tax. However, it is painfully obvious that there is a lot of misunderstanding about the Fair Tax plan. I can help solve that problem. Let's start with the videos below, allowing you to hear Herman Cain's explanation of several of it's elements:

Video provided by IAmCitizenCain on May 1, 2011

Video provided by FoxNewsInsider on May 5, 2011

And here is a video presented by, which will verify what Herman Cain has said about the Fair Tax in the videos above:

Video provided by FairTaxOfficial on Apr 21, 2010

Of course, the biggest opponents to the Fair Tax will be the liberals who claim that it is regressive (which is refuted by the video above). But what the real hatred the liberals possess for the Fair Tax would be that it would eliminate all their weapons of class warfare through income tax, inheritance tax, and payroll tax. Because the liberals do not want to see the Fair Tax go into affect, they will be doing everything they can to stop it from happening, including the use of deceptive misinformation. This is why it is important for us to inform ourselves of how the plan is going to work, and then be able to use that information to inform others - with the TRUTH!

It is true, though, that it would still take quite the fight to get this plan through Congress. You know that tax professionals in the law and accounting fields would fight against this plan, tooth and nail. The Fair Tax would be putting many of them out of business. H & R Block would no longer have a purpose.

The only way to get the Fair Tax enacted will be to elect candidates that can't be bought off by the lobbyists that would be against the Fair Tax. That is definitely no small task. Tea Party candidates would be our best bet. And most certainly, we would need a President in the White House that would sign the bill. Herman Cain is the only Republican candidate that we can count on to sign Fair Tax legislation. The Fair Tax is part of Herman Cain's strategy to get our economy going again. It's time to "raise some Cain." I'm just sayin'...


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Economic vision, Part 3: A fairer tax

By Herman Cain

July 11, 2011 ~ 1:00 am Eastern

© 2011

Paying taxes is a fact of life, because there are certain things that our federal government must provide as enumerated in the Constitution. But paying taxes does not have to be unfair, burdensome and costly. Our current system of taxation is all three, and it got that way little by little over time since 1913.

The Fair Tax, or H.R. 25, is a fairer tax because it is just the opposite. It is fair because consumers determine their taxes based on their purchase behaviors instead of being determined by the government based on their capacity to produce. Our production is measured in terms of personal income and business profits.

The Fair Tax is a one-time, one-point national sales tax on new goods and services. It is not collected on wholesale purchases, but rather, it is collected on retail purchases when the consumer consumes, and not when the consumer or business produces. This is totally consistent with Economic Guiding Principle No. 1 as described in "My economic vision: A job for every home."

The Fair Tax is also fair because everybody pays the same consumption rate of 23 percent. Liberals hate that concept because it does not give them a tool to redistribute the income of others as with the current tax code. The rate is revenue-neutral and replaces all federal income and payroll taxes.

That's right! There will be no more income tax fillings and no more Internal Revenue Service! That would be another day of independence worth celebrating.


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1 comment:

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