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• Aaron Schutte     From: Philip Hinson
[mailto:PLH001@comcast.net] Subject: RE: [scfairtax] The Fiscal
TIde John & John: The FairTax would address this situation in a
number of     Message 1 of 1 , Nov 2, 2006     View Source
From: Philip Hinson [mailto:PLH001@...]     Subject: RE:
[scfairtax] The Fiscal TIde       John & John:      The FairTax
would address this situation in a number of ways.  As John
Steinberger points out, there is approximately 10 to 11 trillion
$$ trapped offshore by our current tax system.        In
addition, the FairTax directly addresses perhaps the biggest
problem discussed in the article, which is the demographic
situation with respect to Social Security and Medicare.  If we
convert to the FairTax, we convert the revenue base for those
programs from payroll to a broader based tax on the entire
economy.  This gets right at the essential problem with these
social safety net programs, which is that the number of peo