Foreign Tourists Finally Contribute

//Foreign Tourists Finally Contribute

Foreign Tourists Finally Contribute

Tourists have been contributing to state coffers when seeking lodging, transportation, dining and buying
souvenirs. In fact, tourism has become an industry which drives the economy of several states. Statistics
show that in 2016 the hotel industry reported $199.3 Billion in lodging revenues. That same year records
show 75.9 M inbound visitors to the U.S.

Why does the U.S. Government not benefit from these visitors when they spend their money? Oh you
say the businesses they buy from will benefit with higher profits and will pay more in federal income tax.
Remember because of tax loopholes and costly accountants the business can manipulate how much
they actually will pay in federal income tax.

Why not use the fair tax system which uses a national sales tax? The tax revenues with no dilutions will
be remitted by the retailer anywhere from one week to one month to the State Tax Authority and sent
promptly to the US Treasury. In this way, the national tax base will be broadened. The broader the tax
base, the lower the amount of sales tax will be necessary for legal residents. Only legal residents will be
eligible for the prebate.

Since the Fair Tax will be collected at the register with each purchase, there is no learning curve. What
could be simpler? Because businesses will no longer pay payroll or profit tax, there is plenty of room for
prices to drop. If you are traveling in the US, you may enjoy cheaper prices as well. Foreign Tourists will
finally contribute directly to the National Coffers without harming state revenues.

By |2018-12-05T20:27:57+00:00December 5th, 2018|Government|0 Comments

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