Fair Tax - Not from John McCain
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.
- 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
I support the Fair Tax and I hope you take time to read about the plan. It is one of the many reasons I supported Duncan Hunter and now Mike Huckabee. What about the other candidates.
Mike Huckabee - "I absolutely support the FairTax, and part of the reason is the current system is one that penalizes productivity."
Ron Paul - "I'll vote for the FairTax if it comes up because I have made a promise that I will do anything to get rid of the income tax and the IRS, and repeal the 16th amendment and that FairTax certainly moves it in that direction."
John McCain - "I do not [support the FairTax], and I think we should look very carefully at it. And I think we should look very carefully at some of the provisions, which according to The Wall Street Journal would increase an individual's tax rate up into the 30s."
One Democrat, Mike Gravel - "I subscribe to a sales tax system, most of which is included in what is called the Fair Tax. The Fair Tax meets the fairness criteria: simplicity, transparency and no exceptions."