Press Release: Presidential Response to Tax Reform delayed until 2007
How should the President respond to a Bloomberg news article which indicates the President will delay major tax reform until 2007 or 2008 and let Congress tinker with small changes in 2006.
If he and Secretary Snow want to set the groundwork for Major Tax reform than they need to define and narrow the choices before the American people. Start them thinking more about it now in a focused way.
They could float 3 ideas which they say they are studying further and getting input from Congress on. This is the Presidential Press release I would like to see;
WHITE HOUSE, PRESIDENT GEORGE W. BUSH;
TOPIC; MAJOR TAX REFORM.
SUMMARY; PRESIDENT RESPONDS TO NEWS REPORTS ON TAX PANEL; TAX REFORM; NATIONAL SALES TAX; FAIR TAX; REGRESSIVE PAYROLL TAX ; STRENGTHENING THE AMERICAN ECONOMY AND PROVIDING GOOD PAYING AMERICAN JOBS.
The President is reviewing 3 key possibilities for Strengthening the American Economy and increasing good paying American Jobs here at home through a better Tax system for the 21st Century. He is reviewing and discussing 3 broad areas:
1. The President's Tax Panel plan is one possibility but the President's worry is that it does not go far enough in making the tax code simpler. It does not answer the call for Economic growth, job creation or encouraging an "Ownership" society.( i.e encouraging Home Ownership,)
2. A Consumption tax as mentioned by Alan Greenspan and supported by 75 Economists in the Spring of 2005 is another overhaul plan, but it would have to be a system that is simple, only charged once, visible and transparent for all Americans, contain protections for the poor and be difficult for lobbyists and Congress to tinker with in the future.
A consumption tax could solve a lot of problems including the regressive nature of the payroll tax which weighs most heavily on the working poor; The best solution so far for a consumption tax seems to be the Fair Tax sponsored by Congressman John Linder and Senator Saxby Chambliss. Other Consumption tax plans lack the safeguards of the Fair Tax.
3. A possible third option might be a Flat Income tax like the Steve Forbes plan. However, that doesn't address the regressive payroll tax or provide the same level of economic growth and Job creation as the Fair Tax.
The Press Release might conclude with,
The President's economic team is studying the choices for a major overhaul to relieve the pressure of our archaic tax code from American families, American business and our American Economy. However, we need American support for honest change and not just tinkering with the old archaic IRS Tax code.
If we can meet the challenge of a new system that can protect the American Economy in the global marketplace; keep good paying American Jobs; and help American Families meet their needs here at home than that is what the Federal Government should be considering. The President is working to find the best choice seeking input from both sides of the aisle and more importantly from the American People.
The President realizes we need a Tax system that can grow our economy, with more growth there is more revenue to support the programs that Americans want. We need a tax system to support and fund the entire federal budget, pay off the national debt, support Social Security and Medicare; a tax system that promotes good paying jobs and leaves enough money left over for American Families to buy a home, pay for health insurance, send their children to college and save for retirement. That is the goal and if we can get away from the Political Games often played in Washington than both political parties, the Congress and the President can give the American people what is needed.
Send this to the White House and Secretary Snow and tell them this is what you are wanting to hear from your President. email@example.com
Read Neal Boortz "Fair Tax book" or visit www.fairtax.org