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Fair Tax Act of 2007
To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.
Other Bill Titles (2 more) 1/4/2007--Introduced.
Fair Tax Act of 2007 - Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2007.
Imposes a national sales tax on the use or consumption in the United States of taxable ... moreSee Full Bill Text
Committees
Amendments
This bill has no amendments.
Bill Status
| Introduced |  | Voted on by House | | Voted on by Senate | | Considered By President | | Bill Becomes Law |
| January 04, 2007 |
Users tracking H.R.25 (18) are also tracking:
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In the News
September 06, 2007 Tax Policy 'Theater' Solves Little
The national issue campaign favors passage of HR 25 which abolishes the IRS, eliminates all federal income tax and payroll withholding taxes, and broadens ...
Source: PR Newswire (press release), NY
August 27, 2007 IRAQIS REACH AGREEMENT ON REFORMS
have introduced legislation (HR 25/S. 1025) to implement the FairTax. They assert that a rate of 23% would be sufficient to replace federal individual and ...
August 25, 2007 FairTax, Flawed Tax
have introduced legislation (HR 25/S. 1025) to implement the FairTax. They assert that a rate of 23% would be sufficient to replace federal individual and ...
Blog Coverage
July 18, 2008 Problems with the Fair Tax
I haven't had the time to do a thorough review of the report. However on page five it states "As is now widely recognized, the calculation of the 23 percent FairTax rate in the HR 25 proposal effectively assumes a significant dec...
July 17, 2008 Fair Tax
For those that don't know, the Fair Tax is a law in congress, HR 25 and S 1025, that aims to eliminate all personal income, estate, FICA, medicare and corporate taxes, abolish the IRS and replace them with an inclusive national sales ...
Source: Adam's Corner
July 16, 2008 FairTax
Its enacting legislation, the Fair Tax Act (HR 25/S 1025) was introduced in the 110th United States Congress in early 2007. The tax would be levied once at the point of purchase on all new goods and services. The proposal also calls for ...
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FairTax just makes sense.
Great idea, but only if the income tax is indeed repealed. I recall the promise of a national sales tax and elimination of income taxes in a country north of us. They ended up with both, AND STILL paying provincial income taxes.
Looks good on paper.
If the government is to tax its citizens it should be clear and visible, the current tax system is neither. This is a realistic way to meet both conditions.
Does this also repeal the state income tax? If so, will states increase their sales tax to try to make up the difference? Will this, in the long run, end up causing the consumer to pay a higher total tax at the end of the year, as opposed to what we are paying now? If the state sales tax does not increase, and we do not end up paying a higher total tax, then this is the best idea the government has ever had. Otherwise, the working class will be shafted again.
I went to the library and got a book called "The Fair-Tax Book" by Neal Bootz and it answered a lot of these questions. It looks like a good bill to me.
US Tax code looks BAD on paper, and is. Who can be expected to read and understand a text that at present is 3.4 million words! Thomas Jefferson said (and this could apply to a great many other bills as well,
"Laws are made for men of ordinary understanding and should, therefore, be construed by the ordinary rules of common sense. Their meaning is not to be sought for in metaphysical subtleties which may make anything mean everything or nothing at pleasure."
Or more simply for any nerds out there, don't you hate that guy that pulls out that D&D rule book to draw on some ancient rule nobody has ever heard of cause the books are too long for anyone to actually read and still have time let alone desire to play the game?
A law that can only be understood by an elite few is no law at all. Lets get this tax thing everybody has to do simple in a way everyone can understand and does not need to work so hard to get right. Lets give businesses, particularly global ones, in this country a reason to make profit here instead somewhere else where there are fewer taxes.
We are punishing businesses for making money. As if this ever made sense, it makes less sense in a recession. Let people work, let businesses make money, get rid of so much excess paperwork, and collect the money at the end (the consumption level) where taxes are difficult to evade.
Reduce corporate fraud while welcoming businesses, innovation, and labor. Vote YES, and get your representative to cosponsor this bill so it can make its way to the floor for a fair fight!
I support the FairTax 100%. Get yourself a copy of "FairTax: The Truth". It's just that easy to answer all your questions. My only question is this: Why have I not seen any Democrats sponor/co-sponsor this bill? Why is Massachusetts not even discussing it?
Excellent proposal. It just makes sense. WHY do we continue to subsidize illegal immigrants? Under this program, they too would pay their fair share at the register, up to the poverty level. It's NOT punitive, but FAIR! Visitors to the US would also pay at the register. It would offset every single American's tax liability. It's the perfect plan for the "tax the rich" crowd. 23% on a new Mercedes, new home, new clothing. But buy a one-year-old car, slightly used home and you pay $0 in sales tax. SWEEEEEEET!
It's time to hold our legislators' feet to the fire. Make them earn their money. They need to 'get with the program' or find a new civil service job.
Microscopic business owner here (that's a tiny, fledgling, new business).
I just spent over 50 hours compiling my tax information (that could have been used developing my tiny business), then delivered it to my CPA who promptly charged me $1036.00 to file my taxes. I got back $2600.00 Minus the $1036, minus the 50 hours spent to compile the information. So this year, I paid over $20,000.00 in taxes on an income of less than $50,000.00 ---- Then $2400.00 in property taxes + ad velorum taxes, + payroll taxes, + Social Security (that I'll probably never see), and 7% in sales tax for every single purchase I made at the grocery store all year.
Our Representatives had better WAKE UP! Their opportunity to be fired isn't too far away. No more empty promises. I want to see ACTION!!!!!
I heard it said best by Neal Boortz, Like him or Not... Imagine if you will we've been doing things for many years the FairTax way, and government came up with a new way called Witholding Taxes, plus Soc.Sec.Tax, Medicare, death taxes, and many more, which we Pay NOW. Yesterday, April 23rd was Tax Freedom day, meaning we had to work from Jan 1 to Apr.23 to pay our taxes essentially for the year. In otherwords for the confused ones, we pay right at 30% of our income to taxes. And people are against FairTax??!!!?! AMAZING!! Only the Stupid are against it, or the ones taking advantage or our current system and stand to lose because they will have to join the rest of us taxpayers.
Wake UP AMERICA!!
You ought to read "Why the So-Called Fair Tax Isn't Very Fair" by Greg Cruey, which can be found at:
http://americanaffairs.suite101.com/article.cfm/tax_reform_in_america
There are better tax alternatives out there. I read about one last year on slashdot.org but can't remember what it was called and their search engine is down today.
One of the problems with this bill is the inclusion of exemptions... Wherever you find an exemption, you will find people who are able to find ways to exploit the exemptions. The wealthiest of the country have done so with the current system to the point where it has gotten too difficult to manage, what in the world makes one believe that the same won't happen with this system?
I've read the article by Greg Cruey, and he is an idiot. His claim essentially is that people in the upper tax brackets in the country don't spend money each month. And rather than being middle class and buying a new suv. A rich person would by a used viper. That is stupid. Either family rich or poor can by used goods.
He does bring up a point inadvertently about consumption. The people in this country who consume the most are lower income, and often people who are on government assistance. But he doesn't ask why that is, the answer is that people who are on government assistance have more disposable income than people who are legitimately trying to make a living.
That is the primary reason why the fair tax IS fair. Because a large percentage of people who are not paying tax will be paying tax. And if their spending is limited to real needs ie: groceries. They are reimbursed.
Also Mr. Cruey makes the contention that this is a trick to limit government income. But all estimates believe it will increase government income. More precisely by my previous example.
This tax proposal could save our nation.
What a great idea! Everyone will pay their share of running the government. The website fairtax.org is very informative.
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