FairTax Overview
11) The FairTax ensures your grandchildren have the same opportunity you did.
Seniors are able to take comfort in the fact that their children and grandchildren are no longer laboring
under the yoke of the income tax, and are once again able to see their own standard of living improve,
one generation to the next.
What is the FairTax Plan?
The FairTax Plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated
approach including a progressive national retail sales tax, a prebate to ensure no American pays federal taxes on spending up
to the poverty level, dollar-for-dollar federal revenue replacement, and, through companion legislation, the repeal of the 16th
Amendment. This nonpartisan legislation (HR 25 / S 122) abolishes all federal personal and corporate income taxes, gift,
estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one
simple, visible, federal retail sales tax – administered primarily by existing state sales tax authorities. The IRS is disbanded
and defunded. The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The
FairTax is a fair, efficient, transparent, and intelligent solut [ۈ