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The facts about the 'fair tax'
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Oct. 30, 2010 12:16 am
The campaign ad says 2nd District candidate Mariannette Miller-Meeks want to add a 23 percent national sales tax. Half true? It's like saying someone stuck a knife into a person, without explaining that the “someone” is a surgeon.
The Fair Tax Act bill in Congress would repeal the federal income tax, employment tax and estate and gift taxes, replacing them with a 23 percent “national sales tax on the use or consumption in the United States of taxable property or services.” It includes “prebate” of the taxes that would be paid on basic essentials.
It would also remove embedded taxes of about 22 percent in the current prices, so the price you see at the store would barely change, even with the “added 23 percent” tax. Removal of corporate taxes would bring money and jobs home from overseas.
Ads paid for by the Democratic Congressional Campaign Committee, supporting Dave Loebsack, are telling this lie.
Check the facts at www.fairtax.org.
Suzette Norby
Marion
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