U.S. Congress - S.2547 Fair and Simple Tax Act of 2008
S.2547 - Fair and Simple Tax Act of 2008
A bill to amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. view all titles (2)
All Bill Titles
- Official: A bill to amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. as introduced.
- Short: Fair and Simple Tax Act of 2008 as introduced.
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This is an example of why the Senate of the United States accomplishes actually very little. There is another almost duplicate bill proposed by a democrat! The intentions of this bill are full met by S1025, the FairTax! Gets rid of the income tax on everyone thereby eliminating the corporate income tax, the capital gains taxes, the need for machinations of the retirement accounts taxes, and all other deviations and perversion of the Internal Revenue Code including the IRS! The FairTax. This bill, and others related, illustrates the dire need for implementation of S1025, the FairTax. It’s time!
This is an example of why the Senate of the United States accomplishes actually very little. There is another almost duplicate bill proposed by a democrat! The intentions of this bill are full met by S1025, the FairTax! Gets rid of the income tax on everyone thereby eliminating the corporate income tax, the capital gains taxes, the need for machinations of the retirement accounts taxes, and all other deviations and perversion of the Internal Revenue Code including the IRS! The FairTax. This bill, and others related, illustrates the dire need for implementation of S1025, the FairTax. It’s time! You may see FairTax.org for more information on the FairTax!