Posted on 05/12/2005 12:25:08 AM PDT by FairOpinion
Wasn't Burton an original author of the FairTax?
Yep he sure was.
Why was he presenting an alternative plan before the panel?
He is afterall partner of Argus, a consulting firm, and from the article, presenting an alternative on behalf of "Free Enterprise Fund" another organization with which he is affiliated just as he has ties to CATO and does analysis for them as well.
Both he and Mastromarco, the other partner in Argus, provide analysis for many groups even American's for Fair Taxation on occasion, as one of many.
Presidential Panel Hears About Tax System
"An alternate plan, offered by David Burton of the Free Enterprise Fund, would reduce the rate to 8.4 percent for individuals by also levying the tax on businesses."
LOL! Do you really think that matters? Go ahead, waste your time sending in comments.
Always good to know an opponent would never lower themselves or waste their time doing such things. :O)
"Did you hear Burton's testimony as it relates to currency shifts and their potential to offset border adjustments of tax?"
"You mean the testimony where Burton was presenting his alternative to the FairTax? His BEST tax would be a NRST/business transfer tax hybrid.
Wasn't Burton an original author of the FairTax? Why was he presenting an alternative plan before the panel?"
You didn't answer my question, but I will answer yours. AFFT wanted to have 3 panelists testifying, one of which would have been Burton. The commission limited us to one. Burton then was selected by the DeMint people to represent their proposal. However, as Burton himself indicated, the two plans are "economically identical". The differences lie in perception and administration. Having Burton on the panel was very good for us. He is very good at explaining the economic benefits.
Certainly you need all the help you can get ... would you like a few links???
As for so many commenting to favor the FairTax, it certainly does matter - and don't think our "elected reps" don't begin to notice.
I would draw your attention to Section 905 (b)......
which says: "Exception- No tax shall be required to be deducted from interest on portfolio debt investments."
I read that to mean that corporate BONDS will be exempt from taxation. Yields will fluctuate to entice foreign investment....but the asset appreciation will accrue to stocks......disproportionately held by AMERICANS!
Thanks for the link to that thread. There's a lot of truth there.
And thanks for all the enlightenment re Sec. 905. It's hard to understand how we have been led into doing this to ourselves (the offshore tax mess, foreign third party intervention in our taxation, etc.) but I would think that Sec. 905 is a step in the right direction.
You are quite welcome. I'll be happy to share what I know...or think I know. ;-)!
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