Michael Webster:
Publisher/Editor. www.lagunajournal.com Contact Us:
mvwsr@aol.com (949) 494-7121
www.michaelwebster.net
Michael Webster:
Publisher/Editor. www.lagunajournal.com Contact Us:
mvwsr@aol.com (949) 494-7121
www.michaelwebster.net
THE WORLD'S OLDEST ON-LINE NEWS GATHERING SOURCE DEDICATED TO RAISING PUBLIC AWARENESS
by Michael Webster
According to the Fair Tax Plan web site says that 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: Lists the following benefits:
They offer a library of information throughout this Web site about the features and benefits of the FairTax plan. Please explore.
Based on the information the Journal was able to find out that the FairTax is a research-based organization. Over the course of more than a decade, the organization has invested millions of dollars in fundamental tax research. Some of this investment went into polling the American public on the nature of taxes they find the least offensive and intrusive. Much of the balance of this investment went into studies by some of the nation’s top economists to ensure such a system can work and to model how it does work. From the early work, the fair tax people drafted its legislation (HR 25); later research has used this legislation as a baseline.
The organization is fortunate that Rep. John Linder signed on to forward the legislation and that talk show host Neal Boortz became an outspoken advocate. All of the effort put into studying the issue, FairTax ended up in the same place as did our Founding Fathers. From their study of history, these men (without the benefit of computers or advanced degrees in economics) determined to build a tax system that had at its base these never-changing fundamentals of taxation:
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Only people pay taxes. Not companies or corps•
Consumption taxes are the oldest form of taxation for many good reasons.•
Consumption tax rates are self-limiting.•
Consumption taxes, throughout history, have enhanced civil liberties and more.•
Direct taxes (income taxes/poll taxes/head taxes), throughout history, have been the toolsof tyranny.
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Uniformity of taxation wards off special interest manipulation.These points address common questions regarding the FairTax plan:
The FairTax is revenue neutral at $0.23 out of every retail dollar spent.
The FairTax lowers the lifetime tax burden for most Americans.
The FairTax benefits retirees who depend mostly on Social Security.
The FairTax preserves the overall progressivity of the federal tax burden.
The FairTax dramatically improves the U.S. economy.
The FairTax improves the international competitiveness of American producers.
The FairTax promotes home ownership better than the current system.
The FairTax simplifies tax compliance, thereby reducing tax evasion.
Fair Tax facts
Money Magazine's senior editor explains "Fair Tax," a national retail sales tax based on consumption instead of income
Mike Huckabee at Americans for Prosperity Mike Huckabee at Americans for Prosperity. Former Arkansas governor Mike Huckabee discusses the tax code in an