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Response to Tax Foundation's Critique of The Debt Free America Act

As America continues to look for viable and concrete solutions to the nation's debt and deficit crisis more and more attention is given to innovative ideas that will eliminate the debt, pay down the deficit and reform the cumbersome tax code. I have introduced legislation that will do just that, The Debt Free America Act,Several producers connect their laptop to the projector, others use mini dv video camera from digital decks, etc. Filmmaker Gray Warriner, however, points out that the National Park Service uses Roku BrightSign machines to show their film. H.R. 1125. The measure has gotten the attention of the President and the Democratic Leadership in the House. And now,A TAXI spy hidden camera scheme has netted its first criminal after a man was caught on CCTV running off without paying his cab fare. they are hidden in the back of taxis will make people think twice before abusing, attacking or stealing from drivers. apparently, it has the attention of the Tax Foundation, a self described nonpartisan tax research group in Washington.

The Foundation's Philip Dittmer wrote a blog critiquing the legislation after my appearance on C-SPAN last week.Kids are invited to bring Mom and Dad for a party atmosphere that includes a ¡°silly siblings¡± digital baby video monitor. Kids will receive instruction with a doll on how to hold a baby and be a hands-on helper. His analysis was flawed. I offer the following accurate information on how the transaction fee would work:

Blog: Tuesday on C-SPAN's Washington Journal, Representative Chaka Fattah (D-Pa) outlined his bold deficit fix, the "Debt Free America Act." According to Fattah, this proposal would "eliminate the national debt within 10 years" and "generate job growth and economic expansion," while simultaneously abolishing all federal individual and corporate income taxes. This can all be accomplished, purportedly, with a new 1% fee on all transactions that involve a payment instrument. Be it cash, credit card, debit card, check, or a transfer of stocks or bonds, all such payments would invoke the 1% fee. Transfers between personal accounts and deposits would be exempted, as would stock market purchases for the foreseeable future.

CF: Mr. Dittmer misunderstands the function of the proposed tax and its application. The primary purpose of the Debt Free America Act is to eliminate the federal debt. The revenues collected from the proposed tax can only be used on the outstanding federal debt. Given the anticipated revenues from the proposed tax, the bill provides a framework for fundamental reform of the federal system of taxation by eliminating the federal personal income tax and the Alternative Minimum Tax (AMT) after 10 years. The bill, however, does not eliminate the tax code altogether. The elimination of corporate taxes and other tax liabilities will require additional Congressional action that is beyond the scope of the proposal.