Discussions with focus groups of Americans showed that what citizens want is a tax system that provides Simplicity, Uniformity, Visibility and Fairness. The FairTax achieves these objectives through:
Simplicity - one rate for everyone; no tax filings
Uniformity - all benefits, all regulations, all exceptions, imposed on all citizens equally
Visibility - any change in the tax rate shows on every cash register receipt
Fairness - it is progressive, protecting the poor through a tax rebate on the necessities of life; no loopholes, therefore everyone pays the same rate on every purchase
And in addition, the FairTax produces the following:
* It lets every worker keep their entire pay check - no payroll or income taxes
* It allows those at/below the poverty level to have zero or negative taxes
* It lets retirees keep their full pension or Social Security checks - untaxed
* It lets everyone keep their capital gains and investment income - untaxed
* It encourages savings & investment - creating greater national growth & productivity
* It encourages repatriation of wealth from tax havens
* It stimulates exports - leading to greater U.S. employment
* It stimulates economic growth and job formation
* It eliminates gift and inheritance taxes
* It taxes spending of gifted and inherited wealth more fairly
* It has a lower cost of enforcement
* It makes the federal tax rate very visible, and therefore, politically risky to increase
* It ends all personal and corporate income tax filings
* It eliminates the IRS and frees $8 Billion
* It frees the $250 Billion tax accounting/law industry for more productive employment
* It eliminates tax loopholes - no filings, no exemptions, no loopholes
nice list, Bad. i will steal it!!
Also the underground economy pays equally as well. (I.E., drug dealers, hookers, etc.)