"I support the Fair Tax." - Mike Huckabee official website
Q. What is the Fair Tax?
A: 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 neutrality, and, through companion legislation, the repeal of the 16th Amendment.
The FairTax Act (HR 25, S 1025) is nonpartisan legislation. It 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 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 solution to the frustration and inequity of our current tax system.
* Abolishes the IRS
* Closes all loopholes and brings fairness to taxation
* Ensures Social Security and Medicare funding
* Brings transparency and accountability to tax policy
* Allows American products to compete fairly
* Reimburses the tax on purchases of basic necessities
* Enables retirees to keep their entire pension
* Enables workers to keep their entire paycheck
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THE CATHOLIC KNIGHT: The Fair Tax is NOT a "flat tax," and has nothing to do with income taxes at all. Rather, it completely eliminates income taxes entirely, and replaces them with a single retail sales tax which is collected at the cash register when you buy things. It is the ONLY tax reform proposal in existence that complies will ALL of the principles of CATHOLIC SOCIAL JUSTICE. The Fair Tax taxes you on what you spend, not on what you earn. So that being the case, people with larger incomes spend more, and therefore get taxed more. No more loopholes. No more tax shelters. People with less money spend less, and therefore get taxed less. Everybody gets reimbursed all taxes on necessities monthly, via a social security rebate check, insuring that those in poverty pay no taxes, and nobody pays taxes on essentials (things they need to survive). This truly is a tax reform proposal born right out of the pages of the Catechism of the Catholic Church.