Fair Tax

[Deleted]

What is the FairTax plan?

The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including a progressive national retail sales tax, a prebate to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue neutrality, and, through companion legislation, the repeal of the 16th Amendment.

The FairTax Act (HR 25, S 296) is nonpartisan legislation. It abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing state sales tax authorities.

The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.

Check it out...
www.fairtax.org/site/PageServer?pagename=about_main

[Cyberman]

I think it sounds like a good idea.
Federal sales tax and no income tax?
Yep....I like it.

Let's get rid of the IRS.

[ratman]

I'm all for this idea!

I could actually survive on my income if we had this implemented

[mksred]

I don't think it will ever happen simply due to the fact that the government couldn't allow it since they would have no excuse to keep the IRS in business. Hmmm, a thought, if Obamacare isn't repealed, maybe they could reform the IRS from Internal Revenue Service to something like Insurance Review Service. That would allow them to keep the IRS in business and allow the Fair Tax to be implemented.

Although it would seem that we would be trading one evil for another!

[lensmanicu]

The problem with it is those that have don't want want it since there would be no loop holes to put there money in so they would actually be paying some of the tax burden. Instead of the middle class paying it all.

[jayar]

under what they call fair tax

are more benefits for the rich

i say we keep the taxes as they are

until we make income better for all people

[Cyberman]

Nov 4, 2010 11:26:55 GMT -5 jayar said:

under what they call fair tax

are more benefits for the rich

i say we keep the taxes as they are

until we make income better for all people

Y would you say that Jay?
Please elaborate on those thoughts.
Come on now, I know you can type more than four lines per post.
I see fewer loop holes with the fair tax than I do with the current complex tax code.
Have you actually read the proposal on the fair tax?

One way to get better income for all people would be for all people to take their education more seriously.

[lensmanicu]

If the Fair Tax is a national sales tax then their are no loop holes if you buy it you are taxed. Whether you are rich, poor, or middle class. Under the current system the poor don't pay taxes because they don't earn enough. And the Rich don't pay taxes because they have loop holes. Which leaves the middle class to pay all the taxes since they make too much to be exempt and not enough to have loop holes. I for one would prefer the fair tax to income tax.

[Deleted]

Fair Tax FAQ

www.fairtax.org/site/PageServer?pagename=about_faq_answers#1

[Deleted]

*bump*