Wednesday, April 13, 2005

STEALTH TAX REFORM BILL INTRODUCED

A federal bill that would do away with federal income tax and replace it with a national sales tax has been introduced again in the House of Representative after the same bill failed to get committee consideration in the last Congress.

The bill, H.R. 25, is sponsored by Rep. John Linder, R-Ga. Dubbed the "FairTax" proposal, the bill "will repeal all corporate and individual income taxes, payroll taxes, self-employment taxes, capital gains taxes, estate taxes and gift taxes – and replace it with a revenue-neutral personal consumption tax," according to the congressman's website.

I am all for tax reform. Can Bush push this through? It remains to be seen, but in the currently political climate... it doesn't look likely...