Transcript Sons of Liberty 2012 Battle Plan

Sons of Liberty 2012 Battle Plan
WHY DO SONS OF LIBERTY SUPPORT THE FAIRTAX?
ONE PRIMARY REASON!
THE FAIRTAX WILL ELIMINATE OVER 8,000 LOBBYISTS WHO
INFLUENCE CONGRESS TO MANIPULATE THE TAX CODE FOR
TAX FAVORS (LOOPHOLES) FOR LARGE CORPORATIONS, SPECIAL
INTEREST GROUPS, OR WEALTHY INDIVIDUALS.
WHY DO SONS OF LIBERTY SUPPORT THE FAIRTAX?
ELIMINATES 8000+ LOBBYISTS!
• CURRENT SYSTEM BENEFITS CONGRESS BY RECEIVING DONATIONS
AND ENDORSEMENTS FOR THEIR CAMPAIGNS WHEN SEEKING REELECTION
• IN THE CURRENT SYSTEM, CONGRESS DOES NOT REPRESENT THE
PEOPLE, THEY REPRESENT THEIR DONORS!
• IF THIS "MACHINE" WAS DISABLED BY NO TAX CODE LOBBYISTS,
CONGRESS WOULD HAVE TO LISTEN TO THE PEOPLE (SONS OF
LIBERTY OBJECTIVES) IN ORDER TO SECURE VOTES AND FUND
THEIR CAMPAIGNS
• THIS IS A TRUE TRANSFER OF POWER TO THE PEOPLE SO OUR SOL
OBJECTIVES WILL HAVE MORE VOICE AND REPRESENTATION
FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
•
•
•
•
WHAT IS TAXED?
All new consumer goods and services are
taxed once
No taxes are collected on used items
Educational expenses are not classified as
consumption and are not taxed
Investments are not classified as
consumption and are not taxed
FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
•
•
•
•
FOR INDIVIDUALS
HR25/S13 ESTABLISHES A 23% CONSUMPTION TAX ON ALL
NEW GOODS AND SERVICES
BROADENS THE BASE OF TAXPAYERS FROM WAGE EARNERS
TO ALL CONSUMERS
REPEALS THE INCOME TAX, PAYROLL TAXES (fica/medicare),
ESTATE TAX, CAPITAL GAINS, GIFT TAX, ALTERNATIVE
MINIMUM TAX, SELF EMPLOYMENT TAX (22% EMBEDDED
TAX IN THE AVERAGE PRODUCT MANUFACTURED IN USA)
ELIMINATES ALL INCOME TAX RETURNS
FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
FOR INDIVIDUALS
• THE POVERTY LEVEL (FAMILY OF 4 EXAMPLE)
• Poverty Level: $27,380
• Prebate of $525/month
• All purchases up to $27,380 untaxed
• 23% tax on consumption of new retail goods and services
above $27,380
• No FICA tax of 7.65%
FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
FOR INDIVIDUALS
• MORTGAGE & CHARITABLE DEDUCTIONS
• Deductions are not needed, because you don’t pay any
income tax
• Taxpayers must itemize to take advantage of mortgage
interest deduction and charitable deductions –only 30%
do
• Everyone will pay mortgage payments with pre-income
tax AND pre-payroll tax dollars.
FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
FOR INDIVIDUALS
• SENIOR CITIZENS
• Typically, contributions to pension plans are made with
un-taxed dollars and compound tax-free
• Pension plans and Social Security benefits are free of
federal income taxes
• Estates can be passed on to your heirs without federal tax
implications
• Real estate holdings can be sold without federal tax
implications
FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
•
•
•
•
FOR BUSINESSES
Eliminates payroll and corporate income taxes which are
embedded at each level of the U.S. supply chain (22%
EMBEDDED TAX IN THE AVERAGE PRODUCT
MANUFACTURED IN USA)
No tax on Business to Business production costs.
Taxes Business and Government consumption of new goods
& services
No reason to be offshore for tax loopholes. Manufacturing
comes home to the U.S. and U.S. assets parked offshore are
repatriated
FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
•
•
•
•
FOR BUSINESSES
Foreign corporations contribute to U.S. economy by locating
offices and facilities here
Lowers manufacturing costs for export. Price shifts will
substantially increase demand for U.S. goods and services in
all markets
Competition will force embedded taxes to be reduced
Good jobs return to our economy
FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
BENEFITS TO OUR NATION
• A more efficient and fair way to collect taxes
• Provide same revenue to Federal Government
• Funds Social Security and Medicare, eliminating the looming
problem of insolvency
• Substantially improves trade deficit, budget deficit and U.S.
status as a debtor nation