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My Speak Out!

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  • Sam Wright
    From: Harvey Abernethy View Contact Details To: FAIRTAX_DD@yahoogroups.com, State Directors ,
    Message 1 of 1 , Feb 3 6:41 AM
    • 0 Attachment
      From: "Harvey Abernethy"
      <h.abernethy@...> View Contact Details
      To: FAIRTAX_DD@yahoogroups.com, "'State Directors'"
      <FAIRTAX_SD@yahoogroups.com>, "'FairTax'"
      <info@...>
      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
      Out!"

      Thanks

      Harvey Abernethy
      TN-DD-02

      From: Harvey Abernethy
      [mailto:h.abernethy@...]
      Sent: Thursday, February 03, 2005 9:13 AM
      To: 'speakout@...'
      Subject: My Speak Out!
      Importance: High



      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
      replacing it.



      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
      the same.



      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.

      My best,

      Harvey Abernethy

      1023 Southgate Road

      Knoxville, Tennessee

      865-637-4245






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