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Tax Reform S747

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  • Sam Wright
    Senator Johnny Isakson introduced on 2 March 2007: S747 Title: A bill to terminate the Internal Revenue Code of 1986, and for other purposes. At this writing
    Message 1 of 2 , Mar 3, 2007
      Senator Johnny Isakson introduced on 2 March 2007: S747 Title: A bill to terminate the Internal Revenue Code of 1986, and for other purposes.
      At this writing the actual text of the bill had not been posted on the Thomas web site, however in his news letter this is what he had to say,
       
      Repeal the Tax Code
      Today, I introduced legislation to repeal the U.S. tax code by 2010 and to force Congress to vote to reauthorize it or replace it with a new system.  My bill also creates a commission that would be required to examine and to recommend to Congress plausible replacements for the tax code. A flat tax and a national sales tax must be among the options it examines. The Tax Code Termination Act would terminate the current tax code on December 31, 2010. To ensure a smooth transition to a new system, Congress must approve a new tax code by July 4, 2010. If a new system is not approved by July 4, 2010, Congress would be forced to vote to reauthorize the current tax code. History has taught us that if we don’t impose a deadline and terminate the tax code by a date certain, overhauling our inefficient system is nearly impossible.  All options should be on the table and the only way to fairly consider all of them is to start from scratch.  Original co-sponsors of the legislation include Sens. Saxby Chambliss (R-Ga.), Wayne Allard (R-Colo.), Mike Crapo (R-Idaho), Lindsey Graham (R-S.C.) and David Vitter (R-La.). 
       
      In Georgia , we have a saying when people are always treating the symptom and not treating the cause. We say they’re avoiding the 800-pound gorilla in the living room. Well, we have a six-pound gorilla that's in the United States Capitol. It’s called the U.S. tax code. Printed in the eight-point type, the U.S. tax code weighs six pounds, but the burden is more than an 800-pound gorilla on the back of American business and on the back of American families.
       


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    • Terry Hackbart
      I cannot thank them enough. Terry Hackbart ... From: Sam Wright To: Sam Wright Sent: Saturday, March 03,
      Message 2 of 2 , Mar 6, 2007
        I cannot thank them enough.
         
        Terry Hackbart
        ----- Original Message -----
        Sent: Saturday, March 03, 2007 3:53 AM
        Subject: [cofairtax] Tax Reform S747

        Senator Johnny Isakson introduced on 2 March 2007: S747 Title: A bill to terminate the Internal Revenue Code of 1986, and for other purposes.
        At this writing the actual text of the bill had not been posted on the Thomas web site, however in his news letter this is what he had to say,
         
        Repeal the Tax Code
        Today, I introduced legislation to repeal the U.S. tax code by 2010 and to force Congress to vote to reauthorize it or replace it with a new system.  My bill also creates a commission that would be required to examine and to recommend to Congress plausible replacements for the tax code. A flat tax and a national sales tax must be among the options it examines. The Tax Code Termination Act would terminate the current tax code on December 31, 2010. To ensure a smooth transition to a new system, Congress must approve a new tax code by July 4, 2010. If a new system is not approved by July 4, 2010, Congress would be forced to vote to reauthorize the current tax code. History has taught us that if we don't impose a deadline and terminate the tax code by a date certain, overhauling our inefficient system is nearly impossible.  All options should be on the table and the only way to fairly consider all of them is to start from scratch.  Original co-sponsors of the legislation include Sens. Saxby Chambliss (R-Ga.), Wayne Allard (R-Colo.), Mike Crapo (R-Idaho), Lindsey Graham (R-S.C.) and David Vitter (R-La.). 
         
        In Georgia , we have a saying when people are always treating the symptom and not treating the cause. We say they're avoiding the 800-pound gorilla in the living room. Well, we have a six-pound gorilla that's in the United States Capitol. It's called the U.S. tax code. Printed in the eight-point type, the U.S. tax code weighs six pounds, but the burden is more than an 800-pound gorilla on the back of American business and on the back of American families.
         


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