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Myrick Opposes Value-Added Tax

(Washington, DC) –US Representative Sue Myrick (NC-09) joined with 15 of her colleagues in sending a letter to President Obama last week expressing their opposition to the value-added tax (VAT). White House Senior Economic Adviser Paul Volcker recently suggested that the United States consider adopting a VAT as a way to bring deficits under control.

“We are all concerned about ways to reduce the size of the federal deficit and strongly support returning out nation to a path of fiscal responsibility. However, raising taxes will only result in additional hardship for American’s families and workers,” the Members wrote in their letter to the President.

Instead of adopting a VAT, Rep. Myrick supports adopting a Fair Tax. The Fair Tax Act, introduced by Rep. John Linder, repeals the income tax, employment tax, and the gift and estate tax. It also abolishes the Internal Revenue Service, and enacts a national sales tax to be administered primarily at the state level.

“What we need is a simpler, fairer tax code that allows more Americans to keep their hard-earned income,” said Rep. Myrick. “Fiscal responsibility is about controlling spending levels, not taxing our way into oblivion”.

Click here to read the entire letter.