Your help is needed to make change happen.
Why support the FairTax®?
Tax reform has never been as necessary, or as possible, as it is at this very moment. Our country is awake and no longer blind to the burden brought upon us by the current tax system – an almost incomprehensible document with over 73,000 pages of loopholes and traps.
It is time for a change. The FairTax Act is the single best solution for economic recovery and financial stability, leveling the playing field for people in every tax bracket.
Here are 10 reasons you want the FairTax, now!
- IRS no longer a threat to you or your business.
- Keep more of your paycheck – no withholding or payroll taxes.
- Savings and investments not taxed; encourages savings for home, education, and retirement.
- No taxes on basic necessities of life.
- Tax on the poor totally eliminated.
- Social Security and Medicare funded.
- Fair to all; no loopholes.
- Increased global competitiveness – Creates Jobs!
- Makes U.S. a haven for business – Creates Jobs!
- Fair – Taxes underground criminal economies.
Keep your entire paycheck (No more Payroll Taxes)
The FairTax eliminates both Federal income taxes and payroll taxes. This allows American workers to keep every dime they earn. When you look at your payroll check, your net pay will no longer be 30 to 40 percent less than your gross pay.
Maintain Social Security and Medicare Funding
These benefits will not change. The FairTax will provide a stronger foundation for funding these programs when compared with the current system that has created trillions of dollars in unfunded liabilities that our children and grandchildren will inherit. Instead of funding Social Security and Medicare from the payroll taxes applied to workers’ wages (a diminishing pool of current employees), these programs will be funded by taxes derived from total consumption of all residents and from foreign visitors spending in the domestic economy.
Obtain tax relief by qualifying for an Advance Tax Refund to ensure access to the basic necessities of individuals living below the poverty level
The FairTax Prebate provides every legal resident household an “advance refund,” known as the prebate, at the beginning of each month to reduce the sales tax burden of individuals and families living below the poverty level.
Each citizen pays Fair Share
The current tax system creates loopholes for individuals and businesses to legally pass on their tax burden to other citizens that are less politically connected. Loss of revenue caused by tax evasion, illegal money operations, and the underground economy cost each honest taxpayer approximately $2,500 every year. Individuals who are involved in the hidden economy would no longer be able to hide from a sales tax driven system.
Only pay tax on the Products and Services you Purchase
Instead of paying your taxes on the front end (when the income is earned), you can control your financial strategy to meet the current needs of your life. You can take charge of your tax planning which will now be a function of consumption. We will all be taxed fairly and based on our life situation not on the back room political dealings of the elite. And, you will able to reduce your tax burden by spending less or by purchasing used goods.
The IRS bureaucracy will be retired
Prepare for the end of the federal bureaucracy that most intrusively affects our private and public lives. Removal of the complexity of the IRS tax forms, threats of expensive tax audits, and the questionable actions of this powerful agency will eliminate an unnecessary evil. The FairTax utilizes state sales tax collection agencies to collect the national sales tax from businesses that charge the tax when purchases are made. All of the tax revenue collected by the states will be remitted to the U.S. Treasury. Both individual state governments and business outlets will be paid a fee for their service.
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