U.S. Congress - H.R.25 Fair Tax Act
H.R.25 - Fair Tax Act
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. view all titles (3)
All Bill Titles
- Official: 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. as introduced.
- Popular: Fair Tax Act as introduced.
- Short: Fair Tax Act of 2011 as introduced.
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Displaying 151-163 of 163 total comments.
I am personally for a flat tax rate on anything you decide to buy. I believe the idea of “paying for taxes only when you want to” is the best way to go. I personally despise the income tax because it is the equivalent of someone saying “Give me your money before you get it”. There is no sense of control, and it is a fact (Per IRS) that the IRS spends 53 cents of every tax dollar it collects to collect it! If it was collected by businesses, and just sent to the Treasury each year there would be 1) No tax evasion (or nearly none I’m sure someone will manage to do it anyway) and 2) A severe cut in the overall expenditures to collect. Also I think it would do the opposite, if the rich like to buy their “toys” and “lavish luxuries” a 23% will make sure they pay their share. In the end I’m sure numbers will show they will end up paying more.
You may want to check your facts. If the IRS spent $0.53 for every dollar collected they would constitute the largest expenditure of the Federal Gov., but they don’t. The number 1 expenditure of the FG is Social Security and Medicare/Medicaid.
You can now support the Fair Tax Act on WhiteHouse.gov at http://wh.gov/gn6
This could have been conceived only by a person who is completely out of touch with the middle class America. If you want to hurt the economy more than it already has been, H.R.25 is definitely the right tool. Let me put this into layman’s terms. If I have to pay in excess of 23% sales tax (in most states this would be added to an existing sales tax, for my state WI, that’s 23% + 5.5%), I will make or grow anything that I can, before I purchase. I will barter before I purchase anything. My spending and the spending of most middle class people will definitely go down dramatically. Considering that consumer spending is the #1 driving factor of our economy, what do you think is going to happen here????
It goes without saying that the sales tax is the most regressive form of taxation. It’s shifting the tax burden from the wealthy to the middle and lower class. This bill is anything but fair.
Maxim80, please read about the fair tax and learn about it, you are right now paying an embedded 27 per cent , and the 23 per cent will REPLACE that. The main reason 99 per cent of people that are against it is that they have no clue and won’t take the time necessary to learn anything about it. Read through these posts and you may start to have a clue and understand that it would benifit you, be fair and fix alot of problems that exists with the over complicated and unfair tax code that exists now.
I guess they want consumer demand to be even lower.
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I like the idea of a fair tax (sales tax) but think that 23% is a scam. 23% would only result in a nominal cut for people making over $80K/yr. The extra money in your pocket from witholding would be immediately offset by a 23% increase in prices. To be fair, a sales tax would have to be 10% or less, matching the lowest nominal rate. To implement that and fully fund the government, the government would have to reduce it’s spending by 2/3… AIN’T GONNA HAPPEN. Which would mean more borrowing and printing money, driving up inflation and prices… and we all know that wages aren’t keeping pace with prices. If passed, this bill would prolong the hurt because the government can’t cut spending and prices would go through the roof.
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