The Fair Tax
To ensure prosperity for future generations, we
must reform some of our institutions - retirement
plans,
the tax code, our health care system, and worker
training programs - that were created for the
world of yesterday.
We must transform these systems so all Americans
will be equipped to confront the great challenges
that
will determine the quality of life for our children
and grandchildren.
In Congress, I am working to cut through some
of the bureaucracy and get government out of
the way
of small
business. I believe this is a necessity if our
economy is going to continue to grow and thrive
as it has
for the last two years.
We need fundamental tax reform to craft a
tax collection scheme that is straight forward
and
is used only
to collect the minimum amount of money needed
to run
the Federal Government. The tax relief Congress
passed over the past 4 years has been vital
to our country’s
economic recovery and is a step in the right
direction. I am in favor of keeping taxes
low for working families
and one of my top priorities is to make
those Tax Cuts permanent.
The current tax system is burdensome and
impedes the international competitiveness
of U.S.
industry. It
contains many unnecessary administrative
and compliance costs on families and businesses
and Americans
deserve a simpler, fairer and more pro-growth
tax code. I support the Fair Tax
Act of 2005. The
Fair
Tax Act
would shift the federal government’s method
of revenue collection from income-based taxes to a
personal consumption tax. The act will repeal all
federal personal income taxes, corporate income taxes,
payroll taxes, self-employment taxes, capital gains
taxes, gift and estate taxes and replace these taxes
with a revenue-neutral personal consumption tax on
all retail sales of new goods and services somewhere
in the neighborhood of 23%.
Imagine a tax system that:
- allows you to keep 100% of your paycheck, pension, and Social Security payments.
- frees up the time wasted on filling out cumbersome I.R.S. forms.
- makes taxation of income unconstitutional by repealing the 16th Amendment.
- exempts all taxpayers from federal taxation, up to the povery level, through a monthy rebate.
- ensures that all Americans pay their fair share of taxes.
- lowers tax rates for low-income and middle-income Americans.
- reduces the cost of goods and services.
- allows families to save more for home ownership, education, and retirement.
- protects the funding of Social Security and Medicare.
- leaves unchanged the amount of money raised by the federal government.
- makes American products more competitive overseas.
How? This tax system has been well researched, and is likely the best tax reform plan - it's called the FairTax.
The Problem is the Current Income Tax Code
The Solution is the Fair Tax
For more information, please visit www.fairtax.org.
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