How to Understand the Fair Tax Movement
Learn how the FairTax would work under a Federal Sales Tax Administration for collecting the tax.There would be just one rate for everyone -- for example 23%., Consider the many troubles and costs The FairTax would eliminate: No more IRS -- Internal...
Step-by-Step Guide
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Step 1: Learn how the FairTax would work under a Federal Sales Tax Administration for collecting the tax.There would be just one rate for everyone -- for example 23%.
Two-thirds vote by the Senate would be required to change that rate.
This sales tax would be paid by foreign visitors too (about $60 billion per year). -
Step 2: Consider the many troubles and costs The FairTax would eliminate: No more IRS -- Internal Revenue Service
No more Federal payroll taxes, No income tax returns, Little paperwork compared to the demands by the IRS now, Your savings would not be taxed.
No keeping track of deductions.
No tax on education costs/expenses.
Death Taxes (inheritance taxes) would be eliminated. , Simple ways of collecting taxes would save taxpayers the frustrations of the tax return each year.
The “underground economy” would pay sales taxes (billions!) like everybody else. , Your groceries and basic necessities are thus not actually taxed using the “pre-bate” (advanced tax refund). , So, no more hidden tax. ,: costs of tax preparers
-- and especially save for expensive record keeping for a small, medium or big business. , Representatives and Senators, if you want to tell them to support or to stop the FairTax. ,,, The President could veto any such tax changes.
Then congress would need a bipartisan 2/3 or more of each house to override a presidential veto.
The 2015 version of this bill was assigned to a congressional committee as House HR25 and as Senate S155.
A committee will consider each before possibly sending it on to the House or Senate as a whole.
The majority of bills never make it past committee consideration. -
Step 3: No more Federal income taxes
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Step 4: The brackets of taxation are eliminated.
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Step 5: Spend as you have funds and so that would be taxed and determine how much you pay in this form of national sales tax.
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Step 6: Read about how the Pre-bate of the expected sales taxes on basic necessities is based upon family size and paid monthly to each family.
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Step 7: Realize that taxes on corporations mean hidden taxes to you as a customer because such taxes have to be paid for and so are embedded (included) in all prices
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Step 8: rents and such
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Step 9: but the unseen taxes on corporate "profits" would be eliminated.
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Step 10: Save money from your filing costs for itemized deductions
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Step 11: Understand how you can interact with some supporters on those against or for this concept: You may like to contact your U.S.
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Step 12: Identify yourself or your great input is ignored: give your name and at least your zip code or city and state -- or else they will not care to even look at it or add you/your-idea to their list or database.
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Step 13: Consider whether you might read more to understand -- and to decide to stand for or against this and to support the legislation or not -- whether to give support or donations or to sign a petition for yourself on the FairTax.
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Step 14: Realize that although the U.S. Congress as of 2015 consists of majority of Republicans in both Houses
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Step 15: they do not have a 2/3 majority needed to finally pass FairTax legislation: House of Representatives made up of 245 Republicans
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Step 16: 188 Democrats and 2 vacancies (2/3 is 290
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Step 17: requiring 19% of the Democrats); Senate made up of 54 Republicans
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Step 18: 44 Democrats and 2 Independents (2/3 is 67
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Step 19: requiring 13% of the others).
Detailed Guide
Two-thirds vote by the Senate would be required to change that rate.
This sales tax would be paid by foreign visitors too (about $60 billion per year).
No more Federal payroll taxes, No income tax returns, Little paperwork compared to the demands by the IRS now, Your savings would not be taxed.
No keeping track of deductions.
No tax on education costs/expenses.
Death Taxes (inheritance taxes) would be eliminated. , Simple ways of collecting taxes would save taxpayers the frustrations of the tax return each year.
The “underground economy” would pay sales taxes (billions!) like everybody else. , Your groceries and basic necessities are thus not actually taxed using the “pre-bate” (advanced tax refund). , So, no more hidden tax. ,: costs of tax preparers
-- and especially save for expensive record keeping for a small, medium or big business. , Representatives and Senators, if you want to tell them to support or to stop the FairTax. ,,, The President could veto any such tax changes.
Then congress would need a bipartisan 2/3 or more of each house to override a presidential veto.
The 2015 version of this bill was assigned to a congressional committee as House HR25 and as Senate S155.
A committee will consider each before possibly sending it on to the House or Senate as a whole.
The majority of bills never make it past committee consideration.
About the Author
Teresa King
Committed to making crafts accessible and understandable for everyone.
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