State version of fair tax plan introduced - Atlanta Business Chronicle:
Mitch Seabaugh, a Republican from Sharpsburg, has introduced a constitutional amendment that would ax state ad valorem taxes, corporate taxes and personal income taxes in favor of a higher state sales tax on goods and services. Called the Georgia One Tax, it could be on the ballots for voters in 2008 and be effective Jan. 1, 2010.
This is exciting stuff, and would put Georgia in the group of states who have the fastest growing economies in the nation -- all of which just happen to have no income tax.
Georgia's current sales tax is 4%. Seabaugh's One Tax would cap the new sales tax at 6.5%, making the measure "revenue neutral."
Althought this would not accomplish the FairTax goal of abolishing the IRS, it would be a good step in the right direction and would accomplish the following:
~ Ensure current funding levels for all government programs
~ Bring transparency to taxes and government funding
~ Enable workers to keep their entire paycheck (at least the state tax portion) and decide when to be taxed.
It would also tax segments of the population who do not currently pay tax like: illegal immigrants, black market, drug dealers, prostitutes, tax evaders, etc.
What better way for Georgia to support John Linder's FairTax plan that to put our money where our mouth is and pass the state version. I'll be keeping a close watch on this one and hope you will support it too.