Mr. Armstrong points out that the nearest comparable period in modern history was in 1940. Seeking to avoid the ravages of World War II, capital flooded into the United States and government bond rates were at 1 percent.
A conservative estimate is that the adoption of the national retail sales tax will lower interest rates between 200 and 300 basis points. In short, the United States will experience the greatest economic boom in history.
7. Requires illegal immigrants and importers to pay taxes in the U.S. Not only do we fail to enforce the laws with respect to our borders, we also allow illegal immigrants to work in our country and, because they work for cash, to pay no taxes to our federal government. If we adopt a national retail sales tax, then each time illegal aliens make purchases they will pay a federal tax. This will not cure our illegal immigration problem but it will ensure that everyone living in our country contributes to paying our governments expenses.
8. Empowers all Americans by giving them the choice as to how much tax they pay. Our present income tax system takes our money through withholding before we receive it. Most of us now consider that our wages are really the take home pay that we get after all the deductions. Under the present system, it doesnt matter if one of us is more frugal than the other because we all pay the same amount of tax. In fact, if we are more frugal than our neighbor we are actually going to pay more and more tax because our earnings on our savings will be taxed each year.
With the national retail sales tax we receive all of the money we earn. Our checks are increased by the amount previously deducted for federal income tax. With this money in hand, we have the power to determine the amount of federal tax we pay based on how much we choose to spend. Citizens, not some bureaucrat or lawmaker in Congress, will have the power.
Our founding fathers insisted on the use of indirect taxes on individuals and specifically forbade direct taxes like the income tax. They did this because they were students of history and they knew that every despotic country had one thing in common direct taxation which helped enslave the people. We have an opportunity to eliminate the income tax, the IRS, tax returns, audits and the penalties on our exports, work, savings and investments and replace them with an indirect national retail sales tax. For ourselves, our children and grandchildren we must free America from the income tax.
Congressman Tauzin (R-La.) represents Louisianas 3rd District and is the co-author of H.R. 2001, the National Retail Sales Act. For more information on this bill or on the National Retail Sales Tax, contact Citizens for an Alternative Tax System, (800) 767-7577 or visit http://www.cats.org.
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