"What we have with the current tax system is taxation without comprehension." - Laura O'Halloran

Pay NO federal taxes! (lobbyist fees apply)

For anyone still wondering if America needs the FairTax – consider the recent headline by the International Business Times (IBT), “30 Major U.S. Corporations Paid More to Lobby Congress than Income Taxes in 2008-2010.”

According to IBT, “By employing a plethora of tax-dodging techniques, 30 multi-million dollar American corporations expended more money lobbying Congress than they paid in federal income taxes between 2008 and 2010, ultimately spending $400,000 every day – including weekends – during that three-year period to lobby lawmakers and influence politicians, according to a new report from the non-partisan Public Campaign.” 

IBT provides a table of major corporations, including blue chips GE, DuPont and Boeing, illuminating their three-year U.S. profits, taxes paid and lobbying expenses.  The totals of the 30 companies is nothing short of staggering including $163,691 million in U.S. Profits, -$10,602 million in taxes and $475.67 million in lobbying expenses. 

Now think about how much the goods and services you buy on a regular basis have gone up in the past three years. Do you think those corporations absorbed their $475.67 million lobbying expense?

Think again. Those costs were passed on in the price of your loaf of bread, gallon of milk and prescription medication.

If the FairTax were enacted, these 30 corporations would no longer need to hire high-paid lobbyist and influence peddlers because the FairTax legislation eliminates all corporate taxes.  Just think how many jobs could be created with $475.67 million! Nice thought isn’t it?

What would be even better is the FairTax treatment of small businesses that are the backbone of American employment. According to the Tax Foundation, small businesses spend $724 to comply with the income tax for every $100 they pay in tax!

The FairTax strips out this tax code complexity, ends the ‘pay for  favors’ game and puts small businesses on a level playing field with large corporations – without one dime in a lobbyist’s pocket.

The FairTax Picture of the Week

The Public Campaign, a non-partisan research and advocacy organization, reports 30 major U.S. corporations spent more money lobbying Congress than they did on federal income taxes between 2008 and 2010. Published by IBD.

The FairTax Poll of the Week

What excites you the most about the FairTax?

- More job, jobs, jobs!

- The underground economy pays taxes

- Keeping my whole paycheck from federal withholding

- No more IRS! (States collect the FairTax)

- Controlling my tax rate

- The Made In America label comeback

Vote on Facebook here, and ask your friends too!

The FairTax in the News 

FairTax would give edge back to American manufacturers - TCPalm

Americans should be concerned about the competitive edge that our tax system gives foreign manufacturers. We should no longer allow the income tax to make foreign-produced goods more competitive than our own.

Replacing the income tax with the FairTax, a highly progressive federal consumption tax, will end this practice and make American products 20 percent to 30 percent more competitive, both at home and abroad. What a break for U.S. producers and consumers as well.

Getting rid of the income tax would dramatically lower production costs in this country. And competition would ensure that these cost savings flow not only to the pockets of American manufacturers who would be able to create more and better-paying jobs, but also to the pockets of American consumers who would be able to buy more, save more, and invest more.

- Joe Rifkin

The December FairTax Webinar

With Special Topic: The FairTax Effect on Education

When: Thursday, December 22, 2011

Time: 8 pm Eastern, 7 pm Central, 6 pm Mountain,  5 pm Pacific

Where: At your personal computer anywhere!

Why: To provide an interactive forum for people who cannot get to local meetings to learn about the FairTax and to present special topics that are frequently misunderstood or not generally discussed.

Who: Join Marc Manieri, Americans for Fair Taxation Community Coordinator in the Greater Orlando, Florida area. In their third year now, Marc’s webinars draw national participation from seasoned FairTax supporters as well as those just getting introduced to the FairTax.