Benefits of the fairtax act

Capital and labor set to equal constant shares of 0. Lower corporate tax rates and favorable transfer pricing regulations can induce higher corporate investment in a given locality. Such investment translates into higher economic growth.

Benefits of the fairtax act

June's web address is webactivist aarp. Your letter to Jerry Lehrer made it across my desk as well. Let me assure you that Seniors are much better off under the FairTax than with our current system. Consider what is happening right now… As I write this, congress is on the verge of passing the largest spending bill in history.

Our debt is going through the roof which will affect future generations. Hyper-inflation will take root in our country probably by the end of this year which will dilute any special treatment of Seniors in the form of government programs such that quality of life will diminish for everyone in the decades to come.

Consider also that prospects for prosperity for working Americans will also diminish. The government creates bubble after bubble to try to keep Americans working but when everyone already has a house and can no longer afford another — or even the one they are in nowour prospects for working America diminish.

The prosperity of our children is the greatest security that seniors can have. Freedom and liberty enable us to pursue happiness and prosperity. More government programs make us less competitive and less able to pursue happiness and prosperity.

FairTax - Wikipedia

The FairTax addresses the major challenges that our nation faces head on. The FairTax untaxes productivity which enables U. Our nation will become the tax haven of the world rather than the tax hell.

More manufacturing means more jobs which means rising prosperity. To address your consideration that the FairTax is not progressive… The more affluent certainly do consume more than the less affluent which, by itself, makes the FairTax progressive. To make it even more progressive, the framers of the FairTax bill included a tax prebate.

Our current system collects income taxes and provides a tax refund once per year if the taxpayer qualifies.

The FairTax prebate is a monthly refund paid in advance for all taxes paid on consumption up to the poverty level. Also, the FairTax does not apply to used goods which means that those who really want to live frugally can do so with the prebate actually serving as a small income source.

It is also important to understand that Social Security and Medicare do not go away with passage of the FairTax. In fact, their prospects for viability increase dramatically as our nation heals itself and becomes more prosperous again.

May 11,  · INSERT DIAGRAM HERE. It is extremely important to understand the difference between supply and quantity supplied. Supply • refers to the entire relationship between prices and the quantity of this product supplied at each of these prices. Americans for Fair Taxation® is a (c)(4) non-profit, non-partisan grassroots organization solely dedicated to replacing the current income tax system with a fair, simple and transparent national consumption tax – the FAIRtax® Plan. To make it more progressive, the Fair Tax Act proposes that all Americans receive a monthly “prebate." The prebate would be equal to the 23 percent tax on the monthly cost of living at the poverty level.

In some cases, the prices can and will reduce. In fact, he can be less concerned with write-offs conferences in Europe, etc. The WWII generation sacrificed in some cases the ultimate sacrifice to enable future generations to have the freedom to pursue their dreams.

When we lost manufacturing jobs to Asia we had technology, housing, and financial services to fall back on… until it all caved in on itself in these past several years. For the future of their legacy?

The FairTax and the AARP. - Fair Tax Nation

Please support the FairTax.Americans for Fair Taxation® is a (c)(4) non-profit, non-partisan grassroots organization solely dedicated to replacing the current income tax system with a fair, simple and transparent national consumption tax – the FAIRtax® Plan. The FairTax Act should be enacted because it eliminates all federal income taxes for individuals and corporations, eliminates all federal payroll withholding taxes, abolishes estate and capital gains taxes and repeals the 16th Amendment; thus eliminating the need for offshore accounts.

Thank you for contacting AARP regarding Senate bill S, The Fair Tax Act of and the companion bill introduced in the House by Rep. John Linder (R-GA), H.R. I appreciate having the benefit of your views on this important legislation.

Benefits of the fairtax act

Opponents of the FairTax Act also like to point out that corporations are naturally greedy and will not pass on the savings that the laid off army of tax avoiding and .

Learn more about the pros & cons of the Fair Tax plan, a new proposed tax system that seeks to eliminate loopholes and spread the tax burden. Advertiser Disclosure: The credit card offers that appear on this site are from credit card companies from which receives compensation.

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Benefits of the fairtax act

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Unspinning the FairTax -