My Speak Out!
- From: "Harvey Abernethy"
<h.abernethy@...> View Contact Details
To: FAIRTAX_DD@yahoogroups.com, "'State Directors'"
CC: "'Sam Wright'" <wrightsl@...>
Subject: FW: My Speak Out!
Date: Thu, 3 Feb 2005 09:18:20 -0500
The following was sent to Fox News Speak Out. They
are asking for topics to debate. Send your email to:
speakout@... Put in Subject line �My Speak
From: Harvey Abernethy
Sent: Thursday, February 03, 2005 9:13 AM
Subject: My Speak Out!
Dear Speak Out:
Please bring to the forefront income tax �REPLACEMENT,
not tinkering like we have done for 90 years.
I have been a builder and developer of commercial and
residential properties for some 30+ years now. I
first heard about the FairTax HR25/S25 about two years
ago and was concerned about the impact on my industry.
I studied so much and become so familiar with it that
FairTax.org asked me to be their spokesperson for real
estate question which I am delighted to do. I feel
the Fair Tax will be the greatest boom to
homeownership that has ever happened.
Certain myths overtime have a way of becoming gospel.
So it is with our current income and payroll tax
system and the benefits it delivers in the form of
favored homeownership tax treatment. True, our
current tax system favors homeownership with the
�mortgage interest deduction� as the god send of
homeownership, but the benefit only accrues to those
who itemize their federal deductions, a whopping 30%
of Americans. For the remaining 70%, our tax system
offers no benefits to the pride of homeownership.
As a REALTOR and builder making my living producing
shelter for those in all income groups, I have studied
the Fair Tax Act HR25/S1493 and it benefits to
homeownership. The Fair Tax is the only true complete
income tax replacement legislation that is and will be
seriously debated in 2005 and 2006 as this country
moves toward either tinkering with the current system
as it have done endlessly for 90 years or completely
By eliminating the current tax system, we
automatically decrease the cost of all new goods and
services by 22% on average. Yes, with the Fair Tax we
will pay a national sales tax on top of that reduced
cost that will bring the price of a new home back to
about what it cost us now and since existing homes are
not subject to the tax, all values will remain about
Imagine home prices the same and each American having
100% of their income, plus a rebate of the sales tax
for those items consumed for the necessities of life
as their resources to live. Coupling that with
interest rates that will be 25% - 30% lower, since all
home mortgages will be equivalent to tax exempt
lending rates today, and the dream for homeownership
for all Americans rises dramatically due to a dramatic
reduction of their Spendable income that must be
devoted for shelter from the budgets. This will be
especially true for the poor and elderly who will
benefit the most from the passage of the Fair Tax.
The �mortgage interest deduction� is a PAUPER compared
to the overall benefits for homeownership the Fair Tax
provides. Please visit www.FairTax.org to learn more.
1023 Southgate Road
Do you Yahoo!?
Yahoo! Mail - You care about security. So do we.