"Debt Free America Act"

Who could be against a debt-free America?
The bill (HR 4646) proposes a transaction tax - in addition
to most of the current taxes. The purpose of the tax is to
raise revenue to pay for the illegal spending of the Federal
Government (unconstitutional = illegal).
The "Findings" in the bill make an excellent case for the
Fair Tax:
The Congress finds the following:

(1) The current tax structure creates economic distortions
that limit growth and job creation. [Amen]

(2) The estimated cost of compliance to taxpayers is five
billion hours and approximately $200 billion. [Amen]

(3) Restructuring the tax code will promote economic
prosperity. [Amen]

(4) Replacing existing Federal taxes with a fee on
transactions eliminates systemic inefficiency that plagues
the current tax code. [Fair Tax]

(5) The United States, from its beginning in 1790 to the
present, has been free of a national debt for only two
years, 1834 and 1835.

(6) The national debt has grown from $75.5 million in 1790
to $5.8 trillion in 2008. [Almost $14 trillion now]

(7) Expressed as a percentage of gross domestic product (GDP),
the national debt reached a high of 108.6 percent of GDP in
1946.

(8) After 1946, the national debt as a percentage of GDP
declined, reaching a low of 32.5 percent in 1981.

(9) The large budget deficits of the 1980s and 1990s reversed
this trend and pushed the percentage to another high of 49.5
percent in 1993. [Democrat Congress until January 1995]

(10) The Federal budget surpluses from fiscal year 1998 to
fiscal year 2001 were used to retire a portion of the publicly
held national debt. [Republican Congress 1995-2001]

(11) Between fiscal year 1997 and fiscal year 2001, the
publicly held portion of the national debt declined by more
than $400 billion. [Republican Congress 1995-2001; Clinton
had a deficit of about $310B for his 8 years]

(12) Since fiscal year 2002, a return to budget deficits has
caused the debt to grow again. [9/11, war, Medicare
Prescription Drug, triple Education budget, etc.]