Share Our 'Top Secret' Press Release
Today, AFFT sent out the following media release in response to the Senate Finance Committee's misguided decision to promise 50 years of secrecy to Members in exchange for their suggestions on tax reform deductions and credits:
The FairTax Picture Of The Week
FairTax supporter Bob Fowinkle makes his point loud and clear to anyone passing by in Bradenton, Florida.
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The FairTax Act In The News
Tax writers promise
50 years of secrecy for senators' suggestions – The
The Senate’s top tax writers have promised their colleagues 50 years worth of
secrecy in exchange for suggestions on what deductions and credits to preserve
in tax reform.
Senate Finance Committee Chairman Max Baucus (D-Mont.) and
the panel’s top Republican, Sen. Orrin Hatch (Utah), assured lawmakers that any
submission they receive will be kept under lock and key by the committee and
the National Archives until the end of 2064…
Baucus told The Hill he fully expects more senators to
participate in writing because of the secrecy guarantee.
“Several senators have said to me how important that is to
them,” Baucus said. “It’s quite significant.”..
The Global Race to
the Bottom in Corporate Taxes – US
News and Global Report
The U.S. has the highest combined corporate tax rate of all
OECD nations, at 39.1 percent, but it wasn't always this way. That rate, which
consists of the federal rate of 35 percent combined with average state rates,
is in fact low by historical standards. Throughout much of the 1950s and 1960s,
the top federal tax rate for U.S. corporations was
over 50 percent, placing America in the middle of the pack among OECD
countries. It was only in the 1980s that the rate came down to the mid-30s
range that corporations enjoy today.
"You can no longer tax corporations the way you used to
because corporations will in fact move," says Kyle Pomerleau, economist at
the Tax Foundation, a conservative think tank. "In the '50s, America was
the best place to do business in the world. We could charge corporations high
rates because they wouldn't move or couldn't move."..
"Many jurisdictions out there do not have the
politicized tax code that we do. ... Our tax code has been used over many, many
years to drive political agendas and hand out tax deductions to industry
sectors," says Stephen Chipman, CEO of Grant Thornton, a tax advisory firm
with hundreds of corporate clients. Because of the byzantine rules, he says,
some of his firm's foreign clients are "horrified by complexity and cost
of filing their taxes in the U.S."..
"Understanding The FairTax" Webinar
With July’s Special
Topic: History of the income tax
When: Thursday, July
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.
presenter, Paul Livingston, District Director from Jacksonville, FL will be
participate, register here and watch for the confirmation email.
For more information contact Larry Walters at email@example.com