Posted on 09/19/2006 2:35:09 AM PDT by Man50D
Why NTU Supports the FairTax:
The Fair Tax Act of 2005 would 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.
Legislative Status:
Rep. John Linder (GA) introduced H.R. 25 in the House of Representatives on January 4, 2005. Senator Saxby Chambliss (GA) introduced S. 25 in the Senate on January 24, 2005. NTU has endorsed the FairTax since 1998 and continues to work for its adoption
Benefits of the FairTax:
The FairTax plan brings fairness, transparency, and efficiency to our unfair, complex, and confusing Tax Code.
The FairTax rewards job creation, hard work, and individual responsibility. By doing away with payroll taxes, companies can afford to hire more employees and outsourcing looks less attractive. By taxing consumption instead of income, individuals are provided with a strong incentive to work hard because they keep more of what they earn. By taxing spending, the FairTax allows us to control how much tax we pay depending on our individual lifestyle choices.
The FairTax ensures that all Americans pay their fair share of taxes. The IRS currently admits to a 25 percent non-compliance rate with the Tax Code, often done unintentionally. By placing the tax at the point of sale, no individual or special interest group could evade taxes with the help of an expensive tax attorney or well-heeled lobbyist. Furthermore, we could stop making criminals out of ordinary Americans who prepare their tax returns incorrectly by mistake.
How the Plan Works:
The FairTax proposal is a comprehensive revenue plan that would eliminate most major federal income and payroll taxes, including personal, gift, estate, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes. On payday, every American would receive 100 percent of his or her paycheck, minus any state income taxes.
These federal taxes would be replaced by a national retail sales tax. Starting in 2007, the Fair Tax Act of 2005 would set the national sales tax rate at 23 percent, with adjustments made to the rate in subsequent years.
The FairTax is progressive. To make this system fair for low-income Americans, all taxpayers would receive a monthly "prebate," so no one would pay taxes for consumption up to the poverty line.
The national retail tax would only be collected on new purchases, making "used" purchases tax-free. Additionally, business purchases would be exempt from the tax, thereby eradicating corporate tax compliance costs currently hidden in retail prices.
What You Can Do:
Sign NTU's online petition. Download our FairTax flyer (PDF). Make a financial contribution to help spread the word about the FairTax. Visit FairTax Scorecard.com Watch this online video about the FairTax (23 min 35 sec) Ask your Representative and Senators to cosponsor H.R. 25 and S. 25 and then vote for the FairTax when it reaches the floor.
Fair Tax ping!
Whee! More FairTax koolaid where every day can be April 15th!
you guys just don't get it, do you?
Here we go again...
This is a wonderful idea, nearly as good as term limits for congress, but like term limits this is just never going to happen.
Yes it would be very fair, and bring millions of Americans back into the tax system, but it would un-employ hundreds of thousands of government workers at the IRS, enforcement divisions, CPA’s, tax attorneys etc.
In addition it would cause the Dems to loss one third of their voting base, and the loss of their never ending campaign on the “wealthy”.
Like so many things the Republicans have promised to accomplish once they had power over the three branches of government, and never fulfilled, this idea can be tossed into the bin of history as a great lost opportunity.
This isn't a news story, it is a webpage.
The title does not match. There is no date. There is no story. It is just a webpage. This is just spamming the forum.
The devil you know versus the devil you don't know. Bearing in mind the law of unintended consequences, I think we ought to forget about National sales tax.
“ There were many skeptics against the Women's right to vote but a strong grassroots effort resulted in the 19th Amendment”
I am sorry my friend but this is a waste of time, and is much different than having at least one person in every household that wanted a change.
We live in a socialist country, where half of the folks do not pay any income tax, and many millions even get refunds on taxes they never paid.
None of these people and their liberal representatives are ever going to approve this.
Look at what a battle it has been over the last eight years just to get minor tax cuts, or some relief on double taxation of the inheritance tax.
If you want to place a new amendment to the constitution then go out and fight for term limits first, and get rid of the socialists that control both houses of congress.
"When you rob Peter to pay Paul, you can always count on the support of Paul, and getting a sore Peter"
NTU has been an enthusiastic FairTax supporter right FRom the get-go ping!
Apparently you like taxing productivity not consumption!
I've still got my doubts about a Women's Suffrage, but I like the the Fair Tax.
How many members does NTU represent?
How many members does NTU represent?
As of this year, according to NTU's president:
Geezer beat me to it.
Check the NTU out at http://www.ntu.org/main/
Great outfit to be a part of.
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