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Friday, March 2, 2007
posted by Justin Hart | 10:30 AM | permalink
Newt discusses his time as speaker and fields a questions from yours truly about the Toffler's new book Revolutionary Wealth. The question he was asked was about his record. I think it was fairly pointed so he was getting a bit defensive.

I still love the guy... but I don't think he can make it.

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Pass HR 25, the Fair Tax Act,into law.

What Newt failed to mention in the video clip was that we currently have a tiered flat tax now. A tax system can't get much more complicated than the current income tax model, that is, unless we keep the same code and try to patch it some more (I personally think that 60,000 pages of patches is quite insane). I have not seen a more fair method of taxation than the FAIR TAX as written (H.R. 25 and S.B. 25). One would simply have to be looking out for their own, selfish, political interest to support any other solution than the FAIR TAX.
A retail consumption tax is the easiest to pay, the easiest to collect, and the most efficient form of revenue collection that can be legislated.
A good dose of government spending restraint would not hurt, either. Together, the FAIR TAX and spending restraint would give the budget a surplus, instead of a deficit, each year. With such a surplus, taxation rates could be lowered proportionally.
And, we could all use some relief in the area of taxation.

By Anonymous Winford Nettles, at March 7, 2007 at 9:03 PM  

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