The Fair Tax is a comprehensive proposal that replaces all federal and payroll based taxes with an integrated approach including the following…
The Fair Tax – taxes us ONLY in what WE choose to spend on new goods and services, NOT what we earn (example-would you rather pay 35% tax on what you earn OR 23% tax on what you spend.)
The Fair Tax would abolish all federal, personal and corporate income taxes, gift, estate, capital gain, social security, medicare and self employment taxes and would be replaced with one simple visible federal retail sales tax that would be administered by the state sales tax authorities.
The Fair Tax would:
- ensure that ALL workers KEEP their ENTIRE paychecks
- ensure that ALL retirees KEEP their ENTIRE pensions
- bring transparency and accountability to the tax policies
- ensure social security and Medicare funding
- refund in advance the taxes on purchases of basic necessities
- abolish the IRS
For more information, please visit www.fairtax.org.
~Pam Yoho