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Article: Op-Ed: Protect Social Security Now With a Federal Retail Sales Tax (Correction)
- Article from:
- U.S. Newswire
- Article date:
- March 10, 2004
CopyrightCopyright 2004 U.S. Newswire. Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON, March 10 /U.S. Newswire/ -- The following op-ed was
released today by Steve King (R-IA), a co-sponsor of HR 25, the
FairTax:
Federal Reserve Chairman Alan Greenspan recently suggested cutting
Social Security and Medicare benefits in order to keep these
government programs solvent.
There is a better way to keep Social Security and Medicare
solvent, yet still provide the funding for very necessary reform.
First, abolish all federal income taxes and the regressive payroll
tax, then replace these taxes with the FairTax (HR 25/S 1493), a
federal retail sales tax on all new goods and services purchased for
personal consumption.
When we shift Social Security funding from a narrow, ...