Is this Fair?
05-19-2006, 01:53 PM
#1
Registered
Thread Starter
Join Date: Jan 2006
Posts: 100
Likes: 0
Received 0 Likes
on
0 Posts
Is this Fair?
The FAIR TAX will offer a long-needed tax relief – in the form of lower prices, nearly nonexistent compliance costs, and the ability to choose how much to spend in taxes, to all Americans, while eliminating the income tax and allowing Americans to keep 100 percent of their paycheck.
WE NEED TO WRITE OUR CONGRESS AND SUPPORT THIS!
The FairTax Act:
Repeals all corporate and individual income taxes, payroll taxes, self-employment taxes, capital gains taxes, estate taxes and gift taxes.
Imposes a revenue-neutral personal consumption tax on all new goods and services at the point of final purchase. Business-to-business transactions and used products (which have already been taxed) are not subject to the sales tax.
Rebates the sales tax on all spending up to the poverty level.
Dramatically reduce the costs of goods and services by 20 to 30 percent.
Allows you to keep 100 percent of your paycheck, pension, and Social Security payments.
Gross Domestic Product will increase by almost 10.5 percent in the first year after enactment.
Compliance costs would decrease by 90 percent.
Real investment would initially increase by 76 percent relative to the investment that would be made under present law. While this increase would gradually decline, it remains 15 percent higher than under the existing tax structure.
Exports would increase by 26 percent initially and would remain more than 13 percent above the level under the current tax system.
Real wages will increase.
Increases incentives to work by as much as 20 percent in many households, leading to higher economic growth and efficiency.
Interest rates will fall drop
This seems to be the way to go!
READ THE WEBSITE
Read more
WE NEED TO WRITE OUR CONGRESS AND SUPPORT THIS!
The FairTax Act:
Repeals all corporate and individual income taxes, payroll taxes, self-employment taxes, capital gains taxes, estate taxes and gift taxes.
Imposes a revenue-neutral personal consumption tax on all new goods and services at the point of final purchase. Business-to-business transactions and used products (which have already been taxed) are not subject to the sales tax.
Rebates the sales tax on all spending up to the poverty level.
Dramatically reduce the costs of goods and services by 20 to 30 percent.
Allows you to keep 100 percent of your paycheck, pension, and Social Security payments.
Gross Domestic Product will increase by almost 10.5 percent in the first year after enactment.
Compliance costs would decrease by 90 percent.
Real investment would initially increase by 76 percent relative to the investment that would be made under present law. While this increase would gradually decline, it remains 15 percent higher than under the existing tax structure.
Exports would increase by 26 percent initially and would remain more than 13 percent above the level under the current tax system.
Real wages will increase.
Increases incentives to work by as much as 20 percent in many households, leading to higher economic growth and efficiency.
Interest rates will fall drop
This seems to be the way to go!
READ THE WEBSITE
Read more
