THE FAIR TAX.....IT'S TIME TO "TAKE ACTION"

THE FAIR TAX.....

It's time for U.S. taxpayers to take action – Source Newspapers

Called the "Fair Tax," this proposed replacement for the income tax would only tax consumption and spending, while encouraging earning and saving. It certainly bears closer examination as our national economy accumulates debt and continues to lose jobs to foreign competitors.

We simply cannot continue on the path we are on; we must make major reforms of our tax structure. We put our representatives in office to act on our behalf, for our well-being. But they've become beholden to the special interests, and now it is time for us to take corrective action. It is not just our right, it is our responsibility to act. It is a simple task, just send an email or letter, or pick up the phone and call your congressperson and U.S. senators, and tell them that you want them to support major tax-reform now. The FairTax bill, H.B.-25 in the House and S-122, will begin the process of repealing the 16th Amendment and abolishing the IRS.
- Brian Pannebecker

 and then let's look at the "prebate" sent to everyone

The FairTax has been called the most thoroughly researched tax reform plan in recent history. This section offers a quick introduction to the FairTax and tax reform.

Scholarly Research Tells Us That . . .

• The FairTax rate of 23 percent on a total taxable consumption base of $11.244 trillion will generate $2.586 trillion dollars $358 billion more than the taxes it replaces. [1]
• The FairTax has the broadest base and the lowest rate of any single-rate tax reform plan. [2]
• Real wages are 10.3 percent, 9.5 percent, and 9.2 percent higher in years 1, 10, and 25, respectively than would otherwise be the case. [3]
• Disposable personal income is higher than if the current tax system remains in place: 1.7 percent in year 1, 8.7 percent in year 5, and 11.8 percent in year 10. [4]
• The economy as measured by GDP is 2.4 percent higher in the first year and 11.3 percent higher by the 10th year than it would otherwise be. [4]
• Consumption increases by 2.4 percent more in the first year, which grows to 11.7 percent more by the tenth year than it would be if the current system were to remain in place. [4]
• The increase in consumption is fueled by the 1.7 percent increase in disposable (after-tax) personal income that accompanies the rise in incomes from capital and labor once the FairTax is enacted. [4]
• By the 10th year, consumption increases by 11.7 percent over what it would be if the current tax system remained in place, and disposable income is up by 11.8 percent. [4]
• Over time, the FairTax benefits all income groups. Of 42 household types (classified by income, marital status, age), all have lower average remaining lifetime tax rates under the FairTax than they would experience under the current tax system. [5]
• Implementing the FairTax at a 23 percent rate gives the poorest members of the generation born in 1990 a 13.5 percent improvement in economic well-being; their middle class and rich contemporaries experience a 5 percent and 2 percent improvement, respectively. [6]
• Based on standard measures of tax burden, the FairTax is more progressive than the individual income tax, payroll tax, and the corporate income tax. [7]
• Charitable giving increases by $2.1 billion (about 1 percent) in the first year over what it would be if the current system remained in place, by 2.4 percent in year 10, and by 5 percent in year 20. [8]
• On average, states could cut their sales tax rates by more than half, or 3.2 percentage points from 5.4 to 2.2 percent, if they conformed their state sales tax bases to the FairTax base. [9]
• The FairTax provides the equivalent of a supercharged mortgage interest deduction, reducing the true cost of buying a home by 19 percent. [10]YES! The FairTax doesn't require an out of control government agency used as a political weapon. The ‪#‎IRS‬ is defunded and disbanded while states enforce the ‪#‎FairTax‬ legislation. Sound good?
  
  "Power, money and influence. No one wants to kill the IRS Golden Goose."

"While the income tax exists, the powerful will use IRS to stay in power. (See "The Political Economy of the IRS," and Schweizer's Extortion to understand IRS power.) Neither the IRS nor the income tax can be 'fixed' since an oversight board appointed by the president would be foxes protecting chickens.
As long as Congress can tax income, it will do so with increasing vengeance knowing most Americans have neither the knowledge of their personal tax burden nor adequate information about FairTaxHR25. FairTaxHR25 allows you to see exactly how much taxes you pay. Call Camp 202-225-3561. Demand support for FairTaxHR25."....................Bev Martin

Remember to watch the great video posted on my Blog wall.....it's a good one and well worth your time!!!