FairTax Overview
What is Americans for Fair Taxation® (FairTax.org)?
FairTax.org is a nonprofit, nonpartisan, grassroots organization solely dedicated to replacing the current tax
system. The organization has hundreds of thousands of members and volunteers nationwide. Its plan supports
sound economic research, education of citizens and community leaders, and grassroots mobilization efforts. For
more information visit the Web page: www.FairTax.org or call 1-800-FAIRTAX.
Authored by Karen Walby, Ph.D., Chief Economist, Americans For Fair Taxation, 2005. Updated April, 2013.
The FairTax Benefits Seniors
The FairTax benefits seniors. Let’s count the ways:
1) The FairTax repeals the taxation of Social Security benefits and adjusts Social Security cost of
living adjustment to preserve the purchasing power of social security benefits.
2) The FairTax ends gift and estate taxes, along with all of the unfairness to heirs and complex tax
planning for those who earned the money.
3) The FairTax ends all record keeping and income tax filings of any kind for seniors, totally
insulating them from the high costs and abusive tactics of tax preparers.
4) The FairTax ensures Social Security’s soundness by funding it with a progressive, broad-based
national retail sales tax, rather than the current regressive, narrow payroll tax.
5) The FairTax prebate lets seniors purchase what they deem as living essentials tax-free up to the
poverty-level. Used goods are tax-free as well.
6) The FairTax delivers a tax holiday on IRAs and other tax-deferred plans.
7) The FairTax allows seniors to sell their homes and pay no capital gains taxes.
8) The FairTax lowers average remaining lifetime tax rates.
9) The FairTax generates an economic boom, easing future budget p ɕ