Replace the Current Federal Income Tax with the Proposed HR25 "Fair Tax"... and Wind Up With More Money in Your Pocket... AND More Income for the Federal Government.
Here's how a 'consumption-based Fair Tax' could wind up saving you money... and making more money for the government:
100% Enforceable
Encourage Thrift and Saving
Eliminate Loopholes for Wealthy
Eliminate Income Tax Cheaters
Eliminate Non-filers, Dodgers, Evaders
Eliminate Horrible Complicated Mess of Filing, Keeping Records, Keeping Up with Exemptions and other Tax Laws, etc.
Fairly Tax Illegal Aliens
Profit from Nonresident Tourists when they shop for expensive items to take back home.
Neal Boortz and Congressman John Linder present their Solutions Day workshop on the Fair Tax.
According to Wikipedia's Article on the Fair Tax ".... The FairTax is a proposed change to the federal tax laws of the United States that would replace all federal income taxes with a single national retail sales tax. The plan has been introduced into the United States Congress as the Fair Tax Act (H.R. 25/S. 296). The tax would be levied once at the point of purchase on all new goods and services for personal consumption. The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or 'prebate', of tax on purchases up to the poverty level. The sales tax rate, as defined in the legislation, is 23 percent of the total payment including the tax ($23 of every $100 spent in total—calculated similar to income taxes). This would be equivalent to a 30 percent traditional U.S. sales tax ($23 on top of every $77 spent—$100 total). With the rebate taken into consideration, the FairTax would be progressive on consumption, but would also be regressive on income at higher income levels (as consumption falls as a percentage of income)....." CLICK HERE for the rest of the Wikipedia Fair Tax Story
U. S. National Debt Clock "... The purpose of USDebtClock.org is to inform the public of the financial condition of the United States of America. We are dedicated to bringing the public the most accurate up to date debt information possible. The numers are laid out in such a way to give a complete real-time snapshot of the country's balance sheet...."
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
"... During this economic meltdown, a growing numbers of citizens and elected officials are looking at the FairTax as a real and permanent stimulus plan to fix the American economy. For those wanting to learn more about the FairTax, here's a straightforward analysis that clearly explains the economics and research that went into the FairTax bill...." CLICK HERE for the rest of the story.
I think most Americans will agree—our current tax system stinks. Not only is it complicated, expensive, and time-consuming, it destroys any chance we have for financial freedom. But, just like most Americans, I had accepted it as “just the way it is.” That is, until I found out that there is another way to raise the same amount of money as our current tax system, cover Social Security and Medicare, with everyone being taxed the same way. That’s when I knew that—as a web designer—I’d found my “calling” at last. It’s called the FairTax plan. I call it “America’s last chance to get it right!”
The FairTax plan is a simple and clear way to fund our federal government, with promises to transform America by growing our economy so quickly that—as the authors of The FairTax Book put it—“you’ll have to hide under your bed to avoid a good job!”..."
"If the FairTax is ever to be enacted, it will be U.S. Rep. John Linder's advocacy in the halls of power that gets the job done."
Atlanta Business Chronicle
“The most important aspect of the FairTax is that it is fair for every American. You will have ultimate control over how much you want to spend and, therefore, how much you want to be taxed.” John Linder
"We believe that today's tax system is destroying jobs and burdening low-income and middle-income families. We propose abolishing income taxes, payroll taxes, and other federal taxes and replacing them with a simple federal sales tax."
John Linder in the Boston Globe
