The following is yesterday’s newsletter from the Vertical Politics Institute:
I support the Fair Tax and believe enacting the Fair Tax would transform our sluggish economy.
First, if you will read the chapter in my book “Do the Right Thing” about the Fair Tax, you’ll not only have a clear understanding of what it is but how I ended up becoming an unflinching supporter and how the Fair Tax was developed.
It was not created by Congressman Linder or Neal Boortz, though they did co-author two wonderful books explaining it which I can recommend (after MY book, of course!)
It was the result of some prominent business leaders from several states meeting to discuss how to change what they saw as a very punitive tax system that was stifling our economy and making it increasingly more difficult to succeed in a global market.
These guys put up their own personal money (no government grants involved) and sought after and then contracted with a team of America’s top economists, which included a “Who’s Who” of leading economic thinkers from Harvard, Boston University, Stanford, MIT, and other top schools and business economists. That team was challenged to do a thorough study and determine the optimum way for the government to receive the funding it needed to operate in a way that would most empower the citizens at all levels to prosper and not punish them. The financiers of the project all thought that the team of economists would come back to them with a flat tax on income, much like the Steve Forbes proposal of a few years ago. What they received back was in fact a flat tax, but not on income, but on consumption. Their proposal, which by design was to be revenue neutral, is the genesis of the Fair Tax. There is over $20 million of academic and practical research behind it.
The biggest obstacle to its passage is mobilizing the political will to enact the Fair Tax and it is one of the reasons why I founded the Vertical Politics Institute (VPI).
Many armchair political quarterbacks like to speculate about whether I should personally back off support of the Fair Tax, don’t bother. I won’t. I’m convinced we could begin to work out of our economic nightmare if our political leaders had the guts to do something about the Fair Tax rather than create monster debts for our children with unconstitutional bailouts for private businesses.
This email is just the beginning of a long term discussion about a very important issue.
Look for my email around this time tomorrow discussing what the Fair Tax is and how you can help.
With deep gratitude,
PS In February of 2008, during the heat of the campaign, I was asked about the Fair Tax at the Commonwealth Club of San Francisco. This links to an eight minute video of my answering questions on the issue. More food for thought.
To learn more about the issues the Vertical Politics Institute is supporting, please visit our website atwww.verticalpoliticsinstitute.com.