The FairTax plan is a proposal that replaces all federal income & payroll based taxes with 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, & the repeal of the 16th Amendment.
The FairTax Act (HR 25, S 1025) abolishes all federal personal & corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, & self-employment taxes & 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, & intelligent solution to the frustration & inequity of our current tax system.
The FairTax:Abolishes the IRS, Closes all loopholes & brings fairness to taxation, Ensures Social Security funding
check it out: fairtax.org
2007-04-12
05:25:44
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