"There are many sham diamonds in this life which pass for real, and vice versa." - William Makepeace Thackeray
FairTax Versus Bling
Diamonds are the hardest known mineral and the most
beautiful of all gemstones. A diamond with a high cut, clarity and color rating
is an investment. For those just wanting bling, an imitation diamond is a great
To the untrained eye imitation diamonds might pass for the
real thing. For the educated eye, it is what it is, an imitation.
Reminds me of the tax reform video
released this week by the Committee on Ways and Means. The beginning was great
- sounded a lot like the FairTax®. Why it even has a snappy “FairTax” sounding
title, “Making Today’s Tax Code Simpler and Fairer.”
The video starts by showing compelling problems in the
current tax code including complexity, increasing compliance costs, too much
influence by special interests and unfettered expansion.
For this, the Committee is to be commended.
But then they introduce their “fix”. To those with little
knowledge about tax plans and tax reform, it sounds reasonable (doesn’t
everything written by Washington’s beltway bandits?).
But for FairTax supporters, who know what is and is not real
tax reform, it is clear the fox is guarding the hen house.
This is just more
imitation tax reform.
The Committee is simply saying tweak the current tax code, retain
the politically corrupt
IRS and enable the special interests to resell their loopholes and exemptions to
future members of Congress. This plan is for the convenience of Congress - not
for the hardworking taxpayers of America.
Even Congressman Kevin Brady (TX-8), a member of the
Committee, commented on the Committee’s video webpage stating, “Americans
deserve a tax code that works for them”.
This was followed by Paul Livingston writing, “Let’s get rid
of the tax code that works for politicians and lobbyists. The tax code
that works for the people is called the FairTax. It gives you the freedom to
determine how much tax you pay and puts the love, care and freedom of you and
your family before paying the government.”
immediately responded, “I agree, Paul. That's why I'm a co-sponsor of the Fair
Tax in Congress.”
They do have a real,
tax replacement plan before them, HR 25, The FairTax Act of 25.
Like a diamond’s journey from coal to gem, HR 25 also
transformed from concept to focus group, from scholarly research to legislation
and from fledgling idea to the largest grassroots tax reform movement in America!
It has more co-sponsors than any other tax reform plan in
Congress, in fact more co-sponsors currently than at any other time in history.
And beyond those that have signed on, there are a significant number of
Representatives who have said if HR 25 comes to a vote, they will vote
The Committee’s pending vote on HR 25 will be a crucial test. They can continue supporting imitation tax
reform or they can invest in the real thing – the FairTax Plan.
Finally, don’t miss retired Congressman and original FairTax
sponsor John Linder’s column
on the FairTax.
Until next week,