Julie and I attended a meeting in Niceville, FL on Saturday, April 1st, to learn more about the FairTax bill and how to promote it. We first learned about the FairTax bill from one of my sales reps over dinner last summer. He told us about The FairTax Book by Neal Boortz and Congressman John Linder. I was interested in learning more so I bought the book the next time I visited Barnes and Noble.What is the FairTax plan?
The FairTax plan is a comprehensive proposal that replaces all federal income and payroll taxes with an integrated approach including a progressive national retail sales tax, a rebate to ensure no American pays federal taxes up to the poverty level, dollar-for-dollar revenue neutrality, and the repeal of the 16th Amendment. This non-partisan legislation (HR 25/S 25) abolishes all federal personal, gift, estate, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes and replaces them all with one simple, visible, federal retail sales tax – collected by existing state sales tax authorities. The FairTax taxes us only on what we choose to spend, not on what we earn. It does not raise any more or less revenue; it is designed to be revenue neutral. So it is also cost neutral – the final cost for goods and services changes little under the FairTax. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.
What is Americans For Fair Taxation (FairTax.org)?
FairTax.org is a non-profit, non-partisan, grassroots organization dedicated to replacing the current tax system. The organization has hundreds of thousands of members and volunteers nationwide. Its plan supports sound economic research, education of citizens and community leaders, and grassroots mobilization efforts. For more information visit the web page: www.fairtax.org or call 1-800-FAIRTAX.
In summary, the FairTax was created by first asking the American people what they wanted out of a tax system, and then having a team of respected economists design a tax system that met those demands. The FairTax replaces the income tax and all other federal taxes with a national consumption tax. The FairTax is levied only once, at the point of purchase on new goods and services. The simplicity of the FairTax frees Americans from our current overwhelming tax code and unshackles the U.S. economy.
The FairTax:
- Abolishes the IRS
- Closes all tax loopholes and brings fairness to taxation
- Maintains our current Social Security and Medicare benefits
- Brings transparency and accountability to tax policy
- Allows American products to compete fairly
- Reimburses the tax on purchases of basic necessities
- Enables retirees to keep their entire pension
- Enables workers to keep their entire paycheck
