November 29, 2009

Why FairTax will save Michigan Fiscally~Editorial to LSJ

Under the National FairTax plan, a product now costing $1.00 today will, under National FairTax, cost $.96 if manufactured in the USA and will cost $1.23 if imported.

A domestic product of $1.00 cost before FairTax will cost  $.78 under FairTax.  FairTax calls for a 23% tax to replace the unconstitutional spending at the Federal level.  Thus, $.78 *$.23=$.18 will be the federal sales tax.  Therefore, a $1.00 item before FairTax will be $.96 under Fairtax with tax included, a four percent reduction in product and tax total. 

The foreign imports now under our current tax at a $1.00 cost, will cost $1.23 under fairtax. This is not a form of excise on foreign  gods, but is making Free Trade, Fair Trade.

In just computing the FairTax implemented at the Federal level, that is a 27% decrease in USA manufacturing cost in comparison to foreign import costs.  How many manufacturing jobs will that bring back to USA?  How many jobs will Michigan and other States be able to gain, if they too implement the Michigan FairTax Plan?

 If Michigan adopts MIFairTax, the cost of Michigan products will be reduced more by elimination of the 22% MBT, personal property tax and income tax. How much of an advantage would this give Michigan in job creation, if Michigan will but adopt the plan which Former State Representative Fulton Sheen sponsored?  Call on conservative Democrats and Republicans, "put Michigan first, not your Party and it's bosses, Lobbyists." 

Speaking of Lobbyists, how many Lobbyists will lose their job by not having to bribe Congressman for loopholes to protect their rich clients?

Incidently, all congressman, Federal and State, would change their allegance if we would change campaign finance law to wit:  'Only registered voters can contribute to any candidate's campaign.'

R. George Dunn

No comments:

Post a Comment

Please be patient on comment approval. Too many places to be. Thanks for your thoughts.