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Just the facts2005-01-04 22:43:20rickwj


Thank you for the very complete article on the Fairtax. It was refreshing to have an article that included the facts, not knee-jerk reactions. Thanks again.


 
Taxpayer support2005-01-04 22:39:22sci0707


I have favored the National sales tax for years. What can I do to help pass this tax?


 
Check out all links on fair tax website2005-01-04 14:38:23chugalug


Here's the real story on the Fair Tax. It is the final solution to reforming the U.S. Tax Code. Pres. Bush, with your encouragement, will make it happen. There is a plan all ready to go that, if enacted into law now, will produce the kind of super-rapid economic growth and new job-creation that is sorely needed, plus generate many additional good results for our nation. HR 25, the Fair Tax Act of 2003 has bi-partisan sponsorship, widespread support among the hard-working taxpayers/voters, and fast growing support within the House of Representatives (over 55 co-sponsors) and Senate. The Fair Tax will produce these highly desirable results: The Fair Tax draws on a much larger tax base (our GNP, gross national product each year, when it is sold) than does the income tax; virtually no one will be able to evade paying at the "check-out" register. This will lighten the load for all of us. Under the Fair Tax the "sticker price" of all that you buy will fall 20-30%. So, even with the 23% Fair Tax added ohe cost of living would be no more than it is now, more likely it would be less. The Fair Tax will: (1) Replace the current complex and unfair federal tax system with a simple sales tax. (2) Eliminate personal and corporate income taxes and Social Security, Medicare, gift and estate taxes. (3) Save taxpayers $250-$600 billion now being wasted in complying with the current tax code. (4) Lower "sticker" prices 20-30% by removing the cost of business compliance with the current tax code. (5) Make American products more competitive with foreign products. (6) Provide a more stable revenue source and raise the same amount of money for the federal government with the imposition of a 23% sales tax with no loopholes. (7) Dramatically lower tax rates for lower and middle-income Americans by pre-bate payments to households to offset the sales tax on necessities. (8) Protect and ensure the funding of Social Security and Medicare. (9) Repeal the 16th Amendment and eliminate the Internal Revenue Service as we know it; taxes on income will no longer be constitutional. (10) Bring capital investment flooding onto American shores. Business, no longer being taxed, will enjoy America as the most “business-friendly” nation on earth. The Fair Tax reform proposal, which may be fully understood at the website www.fairtax.org, is the best alternative to replace the IRS. It is a simple (retail only) national sales tax. It is not a VAT (value added tax---applied at every level of the production process). Business-to-business transactions, not being retail, are not taxed. Nothing is deducted from the employee’s paycheck. He has to spend it on new goods only, not used goods, for it tobe taxed. Thus, one is in charge of one’s own "tax destiny.” The individual person is allowed to spend the first $8,860 of his yearly income tax-free (he will get monthly reimbursement refund checks for taxes paid on that amount), $17,720 (for a couple), $20,800 (household of 3), $23,880 (h.h. of 4), $26,960 (h.h. of 5), $30,040 (h.h. of 6), $33,120 (h.h. of 7), $36, 200 (h.h. of 8). Under this system, "sticker" prices would fall 20-30%, thus, giving our exports a much better competitive edge when sold abroad. This would "kick" the economy into high gear. Businesses (no longer having to send the IRS any money at all) would simply pass the savings on to the consumer, their shareholders, and their employees as higher wages. Forty-five of the fifty states use a sales tax to generate revenuebecause they know that it is the fairest, simplest, easiest, most cost-effective, most problem-free method of taxation. The state taxing authority in each statwould assume the duty of collecting the national sales tax for the U. S. government. Only the retailers file a tax return stating the amount of their sales for the year. For everyone else April 15 is just another spring day. At the Fair Tax website www.fairtax.org, don't stop with the first frame. Click on each of the major headings for more complete information. It will take awhile to do all this, but it is well worth it. You will learn everything you've always wanted to know about the economy and taxation, but were afraid to ask!