Happy Tax Free Day
Well I got too busy yesterday and really just forgot but I hope you had a Happy Tax Free Day. Yesterday was the first day of the year where you finished paying your federal income taxes and began earning your money. That's right! Up until yesterday April 23rd you were working to pay your taxes for the year.
If that makes you feel good I hate to think what makes you feel terrible.
With the Fair Tax you have the decision when and who to pay taxes to. If you don't like what the government is doing, stop spending. If you like what they are doing spend more. If you can't afford taxes you won't pay as long as you live within your means.
To find out how to change the tax system please review my blog or go to FairTax.org.
Hope is just a desire. Change can happen, but you have to make it happen.
The FairTax repeals income taxes and replaces all the embedded taxes with a 23% all-in-one pre-sales tax. The FairTax will be included in net prices, not added at the register. Average incomes will increase. Retirees will get to keep all of their income from SSI, savings and investment dividends. The prebate will refund 100% of the FairTax to people living at or below the poverty level and suppliment most incomes above it. The FairTax only applies to new commerical goods, not used items or stuff you've grown or made at home. The level of evasion would be low because it would be all risk, no reward for retailers. Since the amount of tax a person pays under the FairTax depends on how much they spend, and the amount of the prebate depends on how much they earn, there is no logical way to determine how much anyone is going to save or loose. Studies and reports that make such claims are based on totally arbitrary assumptions, not facts.
zod...Correct on most everything except the prebate. The prebate is not determinant on how much one makes. The prebate is a set amount that is dependent on the size of the household and the poverty level as determined by the Department of Health and Human Services. The prebate is equivalent to 23% of the poverty level and is issued each month.
The prebate goes to every citizen in America. The Fair Tax assumes that no individual no matter how much they make will have to pay for the basic necessities of life. The Fair Tax takes the stance that government should remain neutral to groups.
Studies can accurately indicate how much a person will save with the Fair Tax at certain levels of spending because the Fair Tax is constant and the same for every citizen. The Fair Tax calculator at fairtax.org will demonstrate how much you can save under the Fair Tax.
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