LTE: Fair Tax
Taxpayers could get relief under proposed FairTax
Laura McCue | Asheville Citizen-Times | September 24, 2010
The expected political attack ads are underway. The FairTax does not raise taxes 23 percent nor does it unfairly tax the poor. It is not a VAT (value-added tax) in addition to income taxes.
The FairTax proposal is a comprehensive plan to replace federal income and payroll taxes, including personal, gift, estate, capital gains, alternative minimum, Social Security/Medicare, self-employment, and corporate taxes with a progressive national retail sales tax. The FairTax is dollar-for-dollar revenue replacement for the government and it includes a rebate to ensure that no American pays the FairTax up to the poverty level.
Included in the FairTax Plan is the repeal of the 16th Amendment to the Constitution. The FairTax allows Americans to keep 100 percent of their paychecks (minus any state income taxes), ends corporate taxes and compliance costs hidden in the retail cost of goods and services, and fully funds the federal government while fulfilling the promise of Social Security and Medicare. There are currently 64 legislators who co-sponsor The FairTax bill (H.R. 25). Visit fairtax.org to learn more.
McCue is the 11th District volunteer director for Americans for FairTax.
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