Imagine your life without the I.R.S.!
FairTax Speaker™
Imagine your life without the I.R.S.!


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FairTax Speaker™

The FairTax

The FairTax is a non-partisan bill in Congress that replaces all Federal taxes with a national sales tax.

Briefly, the national sales tax applies to all (no exceptions) services and new goods. It does not apply to investments which include, not only traditional investments like interest bearing accounts, stocks, and bonds, but also education, because it is an investment in human capital.

The FairTax eliminates the Federal Individual Income Tax, the Federal Payroll Taxes (Social Security, Medicare, and Unemployment), Corporate Income Tax, and Gift and Estate Tax.

To remove the regressive nature of a sales tax, the FairTax provides a prebate to all individuals and households, based on the number of household members. The prebate amount is based on Federal poverty income guidelines, so that all spending up to the poverty income level does not incur the sales tax.

By taxing consumption rather than income, those who spend more are taxed more. And by not taxing investment and income, even those earning the lowest wages can improve their situation by judicious use of the income that they do have.


 


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