Thread: Cong. Tancredo Chides Panel for Middle Class Tax Increase

http://tancredo.house.gov/press/presser ... crease.htm

FOR IMMEDIATE RELEASE CONTACT: Will Adams

October 12, 2005
202.226.6997








Tancredo Chides Panel For Middle Class Tax Increase

Slashing Mortgage, Health Care Deductions Penalizes Middle Class, Hurts U.S. Economy


WASHINGTON, D.C. – Congressman Tom Tancredo (R-CO) blasted President Bush’s tax reform panel for suggesting slashing home mortgage and employer health care deductions. It was widely reported this morning that the President’s tax advisory panel will make proposals next month to “clearly redistribute[e]� the tax burden from the upper and middle class to lower-income earners.



The advisory panel will make recommendations to the President which he may endorse or reject. “President Bush will once and for all lose the mantle of conservatism if he embraces tax hikes as ‘reform’. The Republican base urges President Bush to stick to fiscal conservatism and reject this panel’s recommendation,� said Tancredo. “Conservatives voted for the President to move the Supreme Court, to reduce the size of government, and to lower taxes. He has disappointed the base on the first two counts. This would be strike three, and his presidency is out.�



The tax advisory panel was charged with, “reform[ing] the tax code to make it simpler, fairer, and more pro-growth to benefit all Americans.� Instead of a fundamental reform that would reduce the tax burden or cut compliance costs, the panel has rejected visionary proposals to introduce a national sales tax or flat tax. “Even if the panel’s recommendations are revenue-neutral, reducing the tax code compliance costs would create jobs and make America more competitive. Eliminating the legions of tax lawyers and accountants is a sure-fire way to reduce job outsourcing,� said Tancredo. “It looks like the panel is putting out a list of ‘offsets’ rather than any kind of comprehensive or philosophical reform to the tax system. As usual, Washington's idea of ‘reform’ is anything but.�



Home ownership has boomed, enabling many Americans to enter the middle class while saving for the future. At the same time, perhaps the most pressing issue facing U.S. employers is spiraling health care costs. For instance, the head of Starbucks recently projected that the company will spend more on employee health care than it will on coffee beans.



“How will raising taxes on home mortgages and health care grow the economy? How will hiking taxes on mortgages further the President’s vision of an ‘ownership society’? How will increasing the cost of health care create incentives for more Americans to be covered?� asked Tancredo. “The average home price in Colorado is around $350,000. If the President’s panel gets its way, a majority of home owners in Colorado would see their taxes go up. This tax increase would be aimed straight at the middle class.�

I am not surprised by this development at all. How better to trap Americans with over-extended credit? Remove the home mortgage deduction after sucking them into new homes with new APR loans? Rising interest rates, greater portion of income, now NOT TAX DEDUCTABLE which increased the cost of this interest 25 to 30 percent for the average home-owner. Now they will owe more tax and more interest yet their wages and salaries are flat or decling...thus the "income gap" of not being able to make the payments. THAT's why they first passed the change to the Bankruptcy Law. Now, it's your home mortage payment or your credit card payment....either way.....when you can't make both, they get your house, whether it is a secured loan like a home mortage or an unsecured debt like credit card debt. Now you'll be Broke and Homeless.

Broke and Homeless = ThirdWorld Status. a Population of Drones dependent upon the Mercy of the Crones Ruling the World...and we already know these Crones are without Mercy or they wouldn't have done this to the American People to begin with.

Start demanding passage of the FairTax. You can learn more about it at www.fairtax.org.

It's Freedom from this NONSENSE.

It's Freedom every way you look at it.

Freedom is what we're losing. To my amazement, this legislation already in the US Congress does more to restore our Freedom than any bill in Congress today.

Start hounding passage.

It also eliminates corporate income tax on corporate earnings and on shareholder dividends. This will encourage investment in a Production Based Economy in the United States. This will get our Corporations OUT OF "breakfasts" and "lunches" with the CLUELESS IN DC and back to their research labs and production lines where they ought to be.

This will put an end to uselss 501 C 3 organizations living off tax deductible contributions like National Council of La Raza and El Pueblo, the Southern Poverty Law Center promoting illegal immigration, the ACLU promoting "rights" of foreign nationals; LULAC, Maldef, and MEcha promoting anarchy and violations of American Law for illegal profits and job-robbing.

It encourages savings and investment over consumption.

It protects all Americans by rebating the sales tax for the first $25,000 of income which protects your expenditures for basic essentials from taxation.

It eliminates the Income Tax Return and the IRS. It eliminates the cost associated with this process of filing returns which is a $225 Billion a year industry in the United States that does nothing for our economy or American Life and just feeds white collar tax preparors, tax accountants, tax collectors, and tax attorneys.

It eliminates the crimes associated with taxation. NO one will ever go to jail for failing to file a tax return or failing to pay their taxes. We'll need less courts and less Camp Cupcakes.

It enhances your privacy as an individual. It enhances your choices. The government does not need to know the amount of information it gleans about you from a tax return and should not reward home owners while penalizing people who choose to rent or SUVs owners at the expense of Cavalier owners.

With FairTax, you're free. Taxes no longer guide you one way or another. Under FairTax, renting an apartment for the convenience and comfort is just as cool as owning a home and having to worry about the furnace, the yard, the roof...well....I need not go on. Millions of acres of land have been lost and trillions of dollars of debt have been added to the American Experience simply because of the discriminatory deduction for home mortgage interest. People who would have been happier in nice apartments bought homes because it seemed the right financial decision to make simply because of the deductibility of home mortgage interest. It led to flight from the core business districts, created pockets of vacancy, blight, boarded up buildings, congestion on highways, long commutes, air pollution, increased energy consumption....all for what? To take on the burden and responsibility of "home ownership" in trade for an "interest deduction". When you think about it, this was one of the dumbest things ever to pass the United States Congress.

Fairtax also eliminates inheritance taxes. Estates that have already paid tax on tax on tax through the years are now presently taxed again as one generation passes it to another. How sick is that? With Fairtax that Evil DIES.

Fairtax collections through retail sales support all the functions of government INCLUDING social security. No more social security payments. No more individual tax payments of any kind. Just a sales tax when you consume.

FairTax is Freedom Enhancement. This is Right, America, as Right As It Can Be. I just learned about it last week having heard of it but hadn't taken the time to read it and had confused it with the FlatTax proposal...which I had previously supported. Wrote a college paper on the FlatTax years ago...got a A+ and the Professor read it to the Class. In those days, drawing such attention to oneself, while inadvertent, was not cool and I hunkered in my chair totally embarrassed!!

Comparing the two proposals, the FairTax is the far better alternative and long over-due.

Be Free...support the FairTax.

In sum, Get the Government To Our Borders and Ports and Out of Our Daily Lives!!

Ole!!