Loading ...
Sorry, an error occurred while loading the content.

Fody Publishes FairTax Letter in the Philadelphia Inquirer

Expand Messages
  • Jim Bennett
    The following letter appeared in Today s Philadelphia Inquirer (eleventh largest average weekly circulation in the country) in reply to an article by Mark
    Message 1 of 1 , Feb 5, 2012
    • 0 Attachment
      The following letter appeared in Today's Philadelphia Inquirer (eleventh largest average weekly circulation in the country) in reply to an article by Mark Zandi "It's time to address the Wealth Gap." Congratulations to our volunteer State Director, Ken Fody. I am sending this to our New Jersey friends because folds in South Jersey read the Inquirer.

      ----------------------------
      Ken wrote:

      Tax policy discourages savings

      Mark Zandi's article "It's time to address the wealth gap" (Sunday) overlooked a key factor: federal tax policy, which has, for years, punished people for earning and saving and rewarded spending.

      Buy a new car and under the "Cash for Clunkers" program you could get a deduction. Buy energy-efficient improvements for your home, get a deduction. Buy a bigger house, get a bigger mortgage-interest deduction. Take out a home-equity loan to buy a 60-inch TV and get a deduction.

      On the other hand, if you earn more money you pay higher income taxes. If you save what is left, then the earnings are taxed.

      Essentially, the federal government has punished the accumulation of wealth and rewarded dissipation of wealth - policies that affect lower- and middle-income groups more than they do the wealthy.

      We need to replace the current, antiquated tax code with a tax policy that encourages and rewards savings and the accumulation of wealth for all income levels. The Fair Tax, a comprehensive tax-reform proposal, would do that and make the United States more competitive with other countries when it comes to attracting jobs and investments.

      Kenneth W. Fody, director, Pennsylvania Fair Tax Organization, Red Hill, kenfody@...

      ~Jim Bennett
      38 Fairview Ave
      Summit NJ 07901-1728
      USA
      (609) 984-2901 Daytime
      (908) 273-4578 Evenings
      (908) 598-2888 Home Fax
      (908) 578-4975 Mobile Phone

      Price of success? 17ยข a day - 5 bucks a month
      Go to: www.FiveForFairTax.org
      Pay by phone: 832-204-8108
      Pay by mail: Check to "AFFT," 3900 Essex Ln Ste 328, Houston TX 77027-5490
    Your message has been successfully submitted and would be delivered to recipients shortly.