betterdays's Blog

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 1025) 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 paycheckEnables retirees to keep their entire pensionRefunds in advance the tax on purchases of basic necessitiesAllows American products to compete fairly Brings transparency and accountability to tax policyEnsures Social Security and Medicare fundingCloses all loopholes and brings fairness to taxationAbolishes the IRS

We offer a library of information throughout this Web site about the features and benefits of the FairTax plan. Please explore!