Fair Tax Nation

Replace All Federal Taxes on Income with the Fair Tax Act , HR 25

Dave Boone's Blog (10)

The Romney 2011 Tax Return - a FairTax teachable moment



Romney's Gross Income was 13.7M and his bottom line liability from line 61, form 1040 = 1.5M for a 10.9% effective rate under the current system.  This is a simplistic way of looking at effective taxes which combines earned and unearned income taxes, thereby taking us out of the “Warren Buffett” discussion.



The Romneys famously gave 30% of their income to charity last year which would have left 9.6M to spend. Assume they put another 30% into savings and investments, net…

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Added by Dave Boone on October 21, 2012 at 4:06pm — No Comments

Just Pass the Damned Bill Already

All over the country including in the halls of Congress, Americans are beginning to see the Income Tax as a failed system that cries out for fundamental reform.  The question is no longer, how can the Income Tax be improved, but rather how can we reduce collecting revenue to its simplest, fairest form?  In 2005, then President, Bush, convened a panel to answer that question.  His charge to them included the requirement that whatever they came up with must encourage economic growth.  As with…

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Added by Dave Boone on July 19, 2012 at 11:27am — 1 Comment

APPLES to APPLES

Critics of the FairTax love to beat us up about the exclusive rate being 30%. Has anyone ever figured out what the exclusive rate is for the income tax? It turns out in the affirmative. Beacon Hill Institute published in 2007, in a paper titled What Rate Really Works? that the inclusive rate would be 32.53% and the exclusive rate would be 48.22%.…
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Added by Dave Boone on April 2, 2012 at 8:17am — 1 Comment

Interesting development in N. Dakota

Does this mean Sand has taken Herman Cain's 999 pledge?

http://ndpolitics.areavoices.com/?p=93470

Added by Dave Boone on April 1, 2012 at 7:33am — No Comments

FairTax - No Brainer

We all have to make tough choices in life.  Choosing between the current income tax and the FairTax is not that tough.

How would you like to get your entire paycheck, for an immediate 10% raise, maybe more?

How would you like to never have to file another income tax form for the rest of your life?

How would you like to see a number for the cost of running the federal government on every cash register receipt?

How would you like to see trillions of dollars returned…

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Added by Dave Boone on March 25, 2012 at 7:51am — 1 Comment

An Open Letter to Congress

An open letter to Congress:

 

Recently we have seen a series of books documenting the role of the lobbyist and the use of privileged information for personal stock trading profit.  Against a background of a favorability rating in single digits, it all seems like “piling on”.  The sad fact, however, is that you deserve every bit of it, probably more.  You are presiding over a time of serious decline in this unique experiment in representational democracy, as well as in our…

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Added by Dave Boone on March 25, 2012 at 7:45am — 6 Comments

No Brainer

No%20Brainer.doc

Added by Dave Boone on January 30, 2012 at 6:30am — 1 Comment

The FairTax Solution

If you are concerned about jobs going overseas

 

The FairTax fixes it by removing corporate and individual income taxes, as well as capital gains, social security and payroll tax withholding.  Overnight the U.S. becomes the most business friendly nation in the world.

Potentially several trillions of dollar denominated overseas accounts would be “repatriated” for investment here.

 

If you are concerned about the balance of trade…

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Added by Dave Boone on June 28, 2011 at 10:18am — No Comments

Posted at Sodahead

 The key to putting Americans back to work is investment. Removing

capital gains, corporate income tax, individual income tax, and taxes on

savings and education would free up massive capital for investment. It

is estimated somewhere between 10 and 15 trillion dollars would come

back to the U.S. from the offshore accounts which were set up in the

first place to avoid taxes. Now that’s stimulus you can believe in,

and the beauty is that it would be private money.… Continue

Added by Dave Boone on August 17, 2010 at 6:36pm — 2 Comments

Message to House Ways and Means Committee


A million people have just exhausted their unemployment benefits, including my next door neighbor. How bad does it have to get before you will consider the FairTax bill, HR25?

http://waysandmeans.house.gov/singlepages.aspx?NewsID=10470

Hint, hint.

Added by Dave Boone on August 15, 2010 at 8:03pm — No Comments

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