 1,000+ posts
Join Date: Nov 2002
Location: Lansing
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I'm still sorting this one out. I hate the income tax and think it should be outlawed.
I also think that pork barrel spending and deficit spending at the federal level should result in death by hanging for the Senators, Reps and Presidents that vote and sign said spending into law. 
But one thing at a time. 
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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.
- Repeal of the 16th Amendment through companion legislation.
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Quote:
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:
- Enables workers to keep their entire paychecks
- Enables retirees to keep their entire pensions
- Refunds in advance the tax on purchases of basic necessities
- Allows American products to compete fairly
- Brings transparency and accountability to tax policy
- Ensures Social Security and Medicare funding
- Closes all loopholes and brings fairness to taxation
- Abolishes the IRS
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Quote:
The FairTax Five
The gloves are off as critics try to pick apart the FairTax. Trouble is, it's just a replay of the same five FairTax myths:
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Americans For Fair Taxation: Americans for Fair Taxation
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"The most dangerous man, to any government, is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane and intolerable, and so, if he is romantic, he tries to change it. And even if he is not romantic personally he is very apt to spread discontent among those who are." - H.L. Mencken, 1949.
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