Replace All Federal Taxes on Income with the Fair Tax Act , HR 25
You won’t have to calculate or report your federal tax
When the FairTax Act of 2013 (H.R.25/S.13) is enacted,[1]
the FairTax will be the only federal tax you pay.[2]
You won’t have to calculate or report the tax;[3]
the retailer you buy from will do that, just like state sales taxes.[4]
The IRS and 72,000 pages of tax code will go away.[5]
The government won’t have to know whether you’re rich or poor;
it will send every household enough to pay the tax at the poverty level.[6]
It will treat everyone the same; everyone will pay something.
The company you work for will not pay taxes. Its costs will go down.[7]
You’ll keep your full paycheck.[8]
Companies will bring jobs back to the U.S. and sell more overseas.[9]
The economy will grow and benefit everyone.[10]
….Learn more at… http://www.youtube.com/watch?v=e8Gbm7uij4E
[1] H.R. 25 is only 131 pages long and has 58 Co-sponsors in the House of Representatives.
[2] No more payroll, income, estate, gift, capital gains, alternative minimum, Social Security, Medicare, self-employment, or corporate taxes. The FairTax is designed to be revenue neutral to the federal government. Like the taxes it replaces, the FairTax will raise about 60% of current federal government expenditures.
[3] “Individuals and businesses spend about 6.1 billion hours each year doing their taxes and complying with tax laws – that’s the equivalent of more than 3 million full-time workers annually.” (IRS Annual Report to Congress, December 31, 2012) The average taxpayer spends 55 hours doing taxes.
[4] Every state except DE and NH has a sales tax. It will cost the government less than 1% to collect taxes.
[5] The tax code changes more than once a day.
[6] A prebate equal to 23% of the poverty rate for the size of the household will be sent monthly to every household.
[7] Embedded costs of taxes are estimated to be about 22% of the costs of the goods we buy.
[8] No payroll tax.
[9] In a survey of 500 European and Asian businesses, 400 said with the FairTax they would locate their next manufacturing plant in the U.S. and 100 said they would move their corporate headquarters here. Foreign-made products will be taxed.
[10] Tax lobbyists, accountants and lawyers will find more productive pursuits.
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Permalink Reply by Frank Gilbert on -
You are not alone! we fight the good fight together.
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