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F.A.S.T. plan is a fair plan

July 13, 2018
Cape Coral Daily Breeze

To the editor:

Recently, I read an article from the Washington Post about how the Democrats have no real plan to address the economy and jobs. I beg to differ. The F.A.S.T. plan which I support, outlined on my website and espoused at debates, town halls and from door-to-door canvassing creates a framework to balance the off-kilter system in place. F.A.S.T. stands for Fair, Automatic, Simple, Tax. It eliminates the 75,000 pages of tax code loop holes currently established in our federal laws.

It is Fair in that everyone pays their fair share on income. Even world-class corporations that currently pay 0 percent and hedge fund managers who use passthroughs to dodge, buck and weave, would be adding to the collection plate. Just capturing the fair amount of revenue from these parties would lower the rate of taxation for 90 percent of Americans.

The plan is automatic in that the taxes would be collected on your paycheck, as they are now, and would be calculated on an annual basis for interest income from investments. Paying to process your taxes should be and would be unnecessary for the average American. The IRS would already have complete records of your payments and income.

By wiping out decades of legislation that created our current tax code, we would simplify a system that currently serves to allow tax cheats to dine and dash without paying their tab. I understand our current establishment would bristle at the notion of simplification, but we need to drag this injustice into the light.

I will forever remember the quote "only the little people pay taxes." It really angered me to hear such grandiose entitlement espoused by a so-called socialite, like Mrs. Leona Helmsley. I was glad she was dragged to court to explain herself and her questionable tax dodges. The only thing is, there are so many more people, partnerships, and corporations with the same mind-set.

Taxes for us are revenue for the government. Without our taxes, the government cannot function. Garbage collection, roads, schools, police, fire, military, judges, courts, and healthcare all depend on everyone paying their fair share to keep things running. As it is, we have given away nearly $2 trillion in revenue for our government to tax breaks for corporations and billionaires.

Our system of government not only keeps things running, it also creates jobs. Concentrating the wealth of our country into the hands of a few multinational corporations and the 0.1 percent of our citizens, only serves to create the oligarchy we now serve. By spreading out the burden and lightening the load now carried by the 90 percent, our economy would flourish, and good-paying jobs would be created. More money in everyone's pocket stimulates the economy nationwide.

The current trade war waged by our executive branch threatens not only jobs but also our economy. Harley Davidson is already closing production in the U.S. and moving to foreign shores. American farmers are looking at millions of tons of soy beans which no longer have buyers. The cost of automobiles is said to increase $5,000 in the near term. How many fewer solar panels will be installed when the cost doubles? How many fewer oranges will be sold when they are taxed to high heaven?

Right now, unemployment rates are low, only because folks are working two, sometimes three low paying jobs just to get by. Nowhere in the country can you rent a two-bedroom apartment with a sole breadwinner working one full-time minimum wage job. In much of the country even two persons working full-time at minimum wage jobs can't afford a single bedroom apartment. With over 40 percent of American citizens unable to cover a $400 financial emergency, we need to address the minimum wage and raise it immediately to $15/hour. While we're at it we could scrap the cap on Social Security taxable income which currently stops at $128,000. Thereby, we would make the program solvent for decades to come as well as allow for realistic cost-of-living increases.

Worker productivity has been rising for decades while corporate executive salaries have skyrocketed. Union strength has been sapped steadily since the 1980s, thereby creating opportunities for exploitation, denigration and neglect of our workforce. Something needs to be done before this powder keg of pent-up resentment, anger and injustice explodes.

Todd James Truax

Candidate FL District 19

US House of Representatives

 
 
 

 

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