THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Friday, December 23, 1994 TAG: 9412230014
SECTION: FRONT PAGE: A12 EDITION: FINAL
TYPE: Letter
LENGTH: Short : 38 lines
This is the time to overhaul the entire tax system with a National Sales Tax (NST), not a flat income tax.
The flat income tax would be better than our present system, but why settle for second best? Let's not just change the IRS, let's get rid of it. The flat income tax does not decrease the size and power of government.
Many of the advantages of a NST are not realized with a flat income tax. The underground economy continues untaxed, and U.S. companies still export the cost of our government and are forced to compete at a price disadvantage overseas.
Citizens for an Alternative Tax System has been discussing the economic impact that a national sales tax would have on the world economy. Many notable economists agree that much of the world's capital would be attracted to the United States for investment since it would be the only major industrial nation not taxing venture capital and investments, corporations, etc.
Our present income-tax system is broken beyond repair. With the leadership of Bill Archer, R-Texas, and Newt Gingrich, R-Ga., a consumption tax, not a new income tax, is on its way. The national sales tax is fair, simple to administrate, simple to understand and allows producers to be rewarded for their production. Furthermore, it increases the work incentive, which is fundamental to a robust economy.
DAVID BEEMER, director
Tidewater Chapter
Citizens for an Alternative Tax System
Virginia Beach, Dec. 19, 1994 by CNB