What is the FairTax | What is a Consumption Tax | Tax Reform Solutions - Americans For Fair Taxation - Liar Liar!
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What is the FairTax | What is a Consumption Tax | Tax Reform Solutions - Americans For Fair Taxation

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The current federal income tax system is clearly broken -- unfair, overly complex, and almost impossible for most Americans to understand. But there is a reasonable, nonpartisan alternative that is both fair and easy to understand. A system that allows you to keep your whole paycheck and only pay taxes on what you spend. The FairTax is a national sales tax that treats every person equally and allows American businesses to thrive, while generating the same tax revenue as the current four-million-word-plus word tax code. Under the FairTax, every person living in the United States pays a sales tax on purchases of new goods and services, excluding necessities due to the prebate. The FairTax rate after necessities is 23% and equal to the lowest current income tax bracket (15%) combined with employee payroll taxes (7.65%), both of which will be eliminated.... Read More

 
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