TAXATION
Eliminate the progressive income tax---replace it with a flat
income tax or national sales tax----for its purpose is to
redistribute wealth, not fund the constitutionally legitimate
functions of the federal government. We happen to like both Hermain Cains introduction to the FAIR TAX. He calls it 9 9 9
however in fact, it is an introduction to the FAIR TAX.
All residents of the country must be required to pay the tax so they have a stake in limiting its abuse.
Eliminate the automatic withholding of taxes, for it conceals the extent to which the federal government is confiscating income from its citizens.
Eliminate the corporate income tax, for it is nothing more than double taxation on shareholders and consumers, and penalizes wealth and job creation.
Eliminate the death tax, for it denies citizens the right to confer material value they have created during their lives to whomever they wish, including their family.
All federal income tax increases will require a supermajority vote of three-fifths of Congress.
Limit federal spending each year to less than 20 percent of the gross domestic product.
WHAT IS FAIRTAX?
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
replacement, and, through companion legislation, the repeal of the 16th Amendment.
This non-partisan legislation (HR 25/S 1025) abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing state sales tax authorities. The IRS is disbanded and defunded. 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 and inequity of our current tax system.
FairTax Facts
FairTax produces the following:
It allows every worker to keep their entire pay check - no payroll or income taxes.
It allows those at/below poverty level to have zero or negative taxes.
It allows retirees to keep their full pension or Social Security checks - untaxed.
It allows everyone to keep their capital gains and investment income - untaxed.
It stimulates economic growth and job formation.
It eliminates gift and inheritance taxes.
It ends all personal and corporate income tax filings.
It eliminates the IRS and frees $8 billion.
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President Reagan said, "Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children's children what is was once like in the United States where men were free"
We Conservatives need to get busy.