Wednesday, October 12, 2005

Tax Reform Group Blasts Presidential Tax Panel

HOUSTON, Oct. 12 /U.S. Newswire/ -- Americans For Fair Taxation today blasted the reform panel tasked with suggesting fundamental changes to the tax system as, "Fraudulent political theater designed to protect the corrupt tax code and those who profit from its manipulation," said Leo Linbeck, chairman of the national grassroots organization. "When a Presidential panel engages in such activities it does a disservice to the American people."


Linbeck was reacting to early reports of the findings of the President's Advisory Panel on Federal Tax Reform.

"They are moving around the deck chairs on a sinking ship but are trying to convince the American public that they are moving mountains," said Linbeck. The panel's report is due out on Nov. 1.

"The fact that the main proposals to emerge are limits on health insurance and mortgage interest deductions reveal the usual Washington mindset of how to more efficiently shear the taxpaying sheep," said Linbeck.

"We must have hit a nerve with our growing grassroots demand for a national retail sales tax because the panel ignored our multimillion dollar, decade-long research effort defining the proposed plan and instead invented their own phony and flawed national sales tax program and then found it wanting. The panel went to great lengths to conceal the substance of the FairTax proposal," said Linbeck. "The FairTax deserves a fair hearing. Instead, the panel was driven by the very Washington insiders and tax lobbyists who now profit so handsomely through manipulation of the code."


"While every American knows perfectly well that well-heeled lobbyists are manipulating the federal tax code for profit, this panel somehow ignored that reality and substituted cowardly politics for strong action. In the process they employed limited findings and let the American people, as well as President Bush, down," said Linbeck.


"Although the commission was charged with recommending fundamental change to an admittedly dysfunctional federal tax system, they have made it clear they will only propose tinkering around the edges of the current system to eliminate past Washington-driven "reforms" like the Alternative Minimum Tax. It is painfully obvious that Washington, D.C. insiders so closely linked with the status quo cannot be trusted to overturn the corrupt system of federal taxation. This effort will have to be driven by the American people," said Linbeck.

For more information contact:

Leo Linbeck, chairman, Americans For Fair Taxation, 713-966- 5846

Dan Mastromarco, economist, Americans For Fair Taxation, 202- 285-9097

David Burton, economist, Americans For Fair Taxation, 703-521- 3900 or 703-550-2058

Tom Wright, executive director, Americans For Fair Taxation, 727-793-9080

What is the FairTax plan?

The FairTax plan is a comprehensive proposal that replaces all federal income and payroll taxes with an integrated approach including a progressive national retail sales tax, a rebate to ensure no American pays federal taxes up to the poverty level, dollar-for-dollar revenue neutrality, and the repeal of the 16th Amendment. This non-partisan legislation (HR 25/S 25) abolishes all federal personal, gift, estate, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes and replaces them all with one simple, visible, federal retail sales tax - collected by existing state sales tax authorities.

The FairTax taxes us only on what we choose to spend, not on what we earn. It does not raise any more or less revenue; it is designed to be revenue neutral. So it is also cost neutral - the final cost for goods and services changes little under the FairTax. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.

What is Americans For Fair Taxation (FairTax.org)?

FairTax.org is a non-profit, non-partisan, grassroots organization dedicated to replacing the current tax system.

The organization has hundreds of thousands of members and volunteers nationwide. Its plan supports sound economic research, education of citizens and community leaders, and grassroots mobilization efforts.

For more information visit the web page: http://www.fairtax.org or call 1-800-FAIRTAX.

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