[ancient_geezer]

A Taxreform bump for you all.

If you would like to be added to this ping list let me know.

John Linder in the House(HR25) & Saxby Chambliss Senate(S25) offer a comprehensive bill to kill all income and SS/Medicare payroll taxes outright and replace them with with a national retail sales tax administered by the states.

H.R.25,S.25
A bill to promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national retail sales tax to be administered primarily by the States.

Refer for additional information:

• search: "national sales tax" OR "national retail sales tax" OR "fairtax"

[Principled]

If the death tax is repealed permanently, the fair tax rate remains constant as it already takes elimination of estate tax into account when determining rate... while the rate of flat income tax will have to go up.

The flat tax will take 17% of your taxable income plus 7.65% of wages up to 90k(?).That's 24.65% for most folks - without the necessary increase.

The Fair Tax nrst takes 23% of what you spend - taking the prebate on necessity spending into account, most folks will pay closer to 12% of spending.

Important to note that any amounts saved or invested have no tax paid on them.

Quick info on the Fair Tax

[groanup]

FAIR TAX BILL (HR.25): 135 PAGES

INCOME TAX CODE: 60,000 PAGES and growing.