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Abolish the Federal Income Tax and replace it with the Fair Tax

Created by K.C. on February 09, 2014

The current federal income tax system is clearly broken, unfair, overly complex, and almost impossible for most Americans to understand. But there is a reasonable, nonpartisan alternative that is both fair and easy to understand. A system that allows you to keep your whole paycheck and only pay taxes on what you spend.
The FairTax is a national sales tax that treats every person equally and allows American businesses to thrive, while generating the same tax revenue as the current four-million-word-plus word tax code. Under the FairTax, every person living in the United States pays a sales tax on purchases of new goods and services, excluding necessities due to the prebate. The FairTax rate after necessities is 23% and equal to the lowest current income tax bracket which would be eliminated

Budget & Taxes
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