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Taxes Stink, Make April 15th just another beautiful Spring Day
- Apr 15, 2009 at 7:46 AM
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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.
The FairTax:
Enables workers to keep their entire paychecks
Enables retirees to keep their entire pensions
Refunds in advance the tax on purchases of basic necessities
Allows American products to compete fairly
Brings transparency and accountability to tax policy
Ensures Social Security and Medicare funding
Closes all loopholes and brings fairness to taxation
Abolishes the IRS
FairTax FAQs
http://www.fairtax.org/site/PageServer?pagename=about_faq
BEYOND THE BASICS
Although a national consumption tax is simple, fair, and transparent, it is recognizably a dramatic shift from our current taxation system. The economic impact has been researched and debated at length with the resulting studies being presented primarily within two sections: Beyond the Basics and Research & Bill. In Beyond the Basics, we present an in-depth view of the FairTax, the background of the current tax code, and the economic arguments that support the FairTax initiative.
Historical View of Taxation
Alexander Hamilton, our nation's first Secretary of the Treasury shares his thoughts on taxation (excerpt from the Federalist Papers, Federalist No. 21).
http://www.fairtax.org/site/PageServer?pagename=about_beyond_history
Plain English Summary of the FairTax Act (PDF)
This document is a summary of the Fair Tax Act of 2007 (HR 25/S 1025), written in plain language.
http://www.fairtax.org/PDF/PlainEnglishSummary_TheFairTaxAct2007.pdf
Testimony submitted by FairTax.org to the President's Advisory Panel on Federal Tax Reform (PDF)
Our Chairman, Leo Linbeck, explains to the Tax Panel how the FairTax meets the President’s principles of tax reform: simplicity, fairness and pro-growth.
http://www.fairtax.org/PDF/FairTaxTaxPanelStatement.pdf
Taxing Sales Under the FairTax: What Rate Works? (PDF)
The results are in. Beacon Hill Institute and Dr. Larry Kotlikoff team up to provide a detailed estimate of the FairTax Base and derivation of the proper rate calculation formula. Bottom line is that the 23% rate works it replaces the revenue generated by the repealed taxes, maintains the real value of federal spending, and imposes no additional fiscal burden on state and local governments.
http://www.fairtax.org/PDF/TaxingSalesUnderFairTax.pdf
A Macroeconomic Analysis of the FairTax Proposal (PDF)
This study employs a dynamic supply-side economic model to estimate the impact of the FairTax on major economic indicators: GDP, disposable income, consumption, investment under the FairTax are all exceed what they would be if the current system were to remain in place.
http://www.fairtax.org/PDF/MacroeconomicAnalysisofFairTax.pdf
These documents give a comprehensive look into the overall explanation of and arguments for the FairTax. For more research pertaining to specific sectors of our economy and more thorough discussions of the economic issues, please visit the Research & Bill section.
FairTax FAQs
http://www.fairtax.org/site/PageServer?pagename=about_faq
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.
The FairTax:
Enables workers to keep their entire paychecks
Enables retirees to keep their entire pensions
Refunds in advance the tax on purchases of basic necessities
Allows American products to compete fairly
Brings transparency and accountability to tax policy
Ensures Social Security and Medicare funding
Closes all loopholes and brings fairness to taxation
Abolishes the IRS
FairTax FAQs
http://www.fairtax.org/site/PageServer?pagename=about_faq
BEYOND THE BASICS
Although a national consumption tax is simple, fair, and transparent, it is recognizably a dramatic shift from our current taxation system. The economic impact has been researched and debated at length with the resulting studies being presented primarily within two sections: Beyond the Basics and Research & Bill. In Beyond the Basics, we present an in-depth view of the FairTax, the background of the current tax code, and the economic arguments that support the FairTax initiative.
Historical View of Taxation
Alexander Hamilton, our nation's first Secretary of the Treasury shares his thoughts on taxation (excerpt from the Federalist Papers, Federalist No. 21).
http://www.fairtax.org/site/PageServer?pagename=about_beyond_history
Plain English Summary of the FairTax Act (PDF)
This document is a summary of the Fair Tax Act of 2007 (HR 25/S 1025), written in plain language.
http://www.fairtax.org/PDF/PlainEnglishSummary_TheFairTaxAct2007.pdf
Testimony submitted by FairTax.org to the President's Advisory Panel on Federal Tax Reform (PDF)
Our Chairman, Leo Linbeck, explains to the Tax Panel how the FairTax meets the President’s principles of tax reform: simplicity, fairness and pro-growth.
http://www.fairtax.org/PDF/FairTaxTaxPanelStatement.pdf
Taxing Sales Under the FairTax: What Rate Works? (PDF)
The results are in. Beacon Hill Institute and Dr. Larry Kotlikoff team up to provide a detailed estimate of the FairTax Base and derivation of the proper rate calculation formula. Bottom line is that the 23% rate works it replaces the revenue generated by the repealed taxes, maintains the real value of federal spending, and imposes no additional fiscal burden on state and local governments.
http://www.fairtax.org/PDF/TaxingSalesUnderFairTax.pdf
A Macroeconomic Analysis of the FairTax Proposal (PDF)
This study employs a dynamic supply-side economic model to estimate the impact of the FairTax on major economic indicators: GDP, disposable income, consumption, investment under the FairTax are all exceed what they would be if the current system were to remain in place.
http://www.fairtax.org/PDF/MacroeconomicAnalysisofFairTax.pdf
These documents give a comprehensive look into the overall explanation of and arguments for the FairTax. For more research pertaining to specific sectors of our economy and more thorough discussions of the economic issues, please visit the Research & Bill section.
FairTax FAQs
http://www.fairtax.org/site/PageServer?pagename=about_faq
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