So what is in this Fair Tax Bill designated HR 25? You do a search and it comes up in 2007, 2009, 110th congress etc.
Seems like folks approve of this bill without reading it.. sound familiar?
“So what is in this Fair Tax Bill designated HR 25?”
It’s a tax reform proposal which eliminates income taxes (both individual and state), payroll taxes (both employer and employee), estate and gift taxes - pretty much all current federal taxes with the exception of excises. In their place would be an NRST (National Retail Sales Tax) levied at the point of sale to an end using consumer. It would be levied at a rate of 23 cents per dollar spent. There would also be a rebate to ensure that no one would pay taxes (on a net basis) up to poverty level consumption.
It would provide dramatic economic stimulus and restore the Constitutional rights usurped over the years by the current tax system.
Find out more at www.fairtax.org
“You do a search and it comes up in 2007, 2009, 110th congress etc.”
It has been introduced into every session of congress since 1999 (in the house). There has been a companion senate bill since about 05, I think. This is why getting more 1st day co-sponsors than ever before is a big deal.
“Seems like folks approve of this bill without reading it.. sound familiar?”
We do have a problem with members signing on as co-sponsors but not understanding the bill well enough to defend it or educate their constituents as to its importance. However, in areas where congress members do understand it and its enormous benefits, it has proven to be politically a winner. Rob Woodall won his seat primarily because he convinced the voters that he would be the most effective advocate for the bill in the US house. Every Republican running for that seat (vacated by the retirement of the bill’s previous primary sponsor) ran on the FairTax and tried to convince voters that he would do more to advance the FairTax than the others. Woodall won that debate and therefore he is the one who raised his right hand yesterday.
I do think that the new group of freshmen house members “gets it” more than many of the incumbents. Of course, the current tax system favors incumbents because it facilitates the exchange of tax preferences and earmarks for campaign cash, aided and abetted by an army of well heeled lobbyists. The FairTax would be a critical component of any serious effort to reform that system and return accountability of our elected government back to the people. For that reason, lobbyists hate it and so do many career politicians - on BOTH sides of the aisle.