Introduced in House (01/03/2019) FairTax Act of 2019 This bill imposes a national sales tax on the use or consumption in the United States of taxable property or services in lieu of the current income taxes, payroll taxes, and estate and gift taxes. The rate of the sales tax will be 23% in 2021, with adjustments to the rate in subsequent years. There are exemptions from the tax for used and intangible property; for property or services purchased for business, export, or investment purposes; and for state government functions. Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines. The states have the responsibility for administering, collecting, and remitting the sales tax to the Treasury. Tax revenues are to be allocated among (1) the general revenue, (2) the old-age and survivors insurance trust fund, (3) the disability insurance trust fund, (4) the hospital insurance trust fund, and (5) the federal supplementary medical insurance trust fund. No funding is authorized for the operations of the Internal Revenue Service after FY2023. Finally, the bill terminates the national sales tax if the Sixteenth Amendment to the Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this bill.
guess I should go have a look but not real sure this is a solution... not sure it's a actual change though... just a different method perhaps?
So, no high value purchases so to keep tax liability lower.. Real estate will take a hit as will the auto and pleasure craft sales..
Introduced by a Georgia republican, if I read it right. Text - H.R.25 - 116th Congress (2019-2020): FairTax Act of 2019
If it lowers my taxes then I am for it - period. IMHO we get very, very little for the amount of taxes we pay...
That is the BS that they want you to believe... There NEVER was a Politico that wanted to “Lower Taxes”.... they need the money to fund their “ Give Away” plans that are for our own good...
When they come up with a simply worded flat 15% tax I'll be onboard. It takes money to maintain our infrastructure, I get that. If everyone, and by that I mean everyone, paid 15% (5% state, 10% Federal) we would be solvent in just a few years. I know people who get refunded more than they paid in. I have a problem with that, and with those that earn far more than I and pay less tax than I do. The ONLY cure is a flat tax.
A flat tax and then require that the Federal Government MUST have a balanced budget except in time of war DECLARED by Congress.
IT would tax them poor people who have more money and toys than me. rich people ( or poor) would not pay tax on certain things....boats over 40 feet, or 30 or 50 like, let them eat cake
I think you are wrong. We need a link to the actual wording of this proposed replacement for then income tax. If it is the consumption tax I think it is, if and when it passes, it should be THE THING to rein in Big Government and eliminate the IRS. It should reduce the cost of new goods and REALLY BENEFIT those frugal individuals who buy used goods (untaxed by law - already taxed when new). Workers to keep entire paycheck and also get Gov. poverty level Prebate monthly. ALL previous tax avoiders would be taxed when they buy new. Tax base would increase from 192 million households, to every illegal immigrant, foreign tourist, foreign diplomats, gamblers, prostitutes, drug dealers, any self employed workers not paying income taxes .... ANYONE IN USA BUYING NEW GOODS. Be frugal! Buy used. All savings grow tax free. etc etc
ALL PEOPLE would be taxed on NEW GOODS but not at all on used items. All new boats at any price would be taxed. Ditto Luxury new cars or planes, Used not taxed. Be Frugal, BUY USED !!!
DOA "Under the bill, family members who are lawful U.S. residents receive a monthly sales tax rebate (Family Consumption Allowance) based upon criteria related to family size and poverty guidelines." another wealth redistribution scheme so loved by the Leftists in this country.
Only those CITIZENS registered with a valid SSN within a household as a group or single occupant with SSN qualify for the rebate. This is to ensure the tax cannot be deemed regressive to the poor. Keep in mind this does away with the many deductions that severely drain what working tax payers and even retired military who often still pay taxes all the way until death. No slack for the welfare slug with no baby daddy in household who previously got so much credit for 6 children that she paid no taxes but got back 10s of thousands of dollars every spring from IRS. All the illegals / non citizens GET JACK SHIT! It is a better deal for normal tax payers of today! You really should look further into it than merely saying DOA
You see what you see. It's all good. I see the crap going on today - right now, in the fake ID business.... I also see an engine to strip the remaining (small) middle class of what litle wealth they have managed to hang onto **and** a way for the poverty pimps in CONgress buying votes from da 'hood.via these so-called 'poverty guidelines' See, I'm old enough to remember the "promises" made about Medicare and the "Great Society' crap pushed on us by the Dems to buy votes. BTW - the majority of illegals already have fake SSNs The IRS does nothing today (or ever for that matter) about duplicate SSN filings and I can guarantee these payments will be vetted and paid locally. Metairie man accused of selling more than 400 illegal driver's licenses in New Orleans DMV Information April 20, 2012 Sacramento - A Department of Motor Vehicles (DMV) employee, who worked at the Los Angeles field office located on 3615 S. Hope Street, along with two other individuals were taken into custody Thursday, and charged with allegedly being involved in a fraudulent driver license and ID scheme. Arrested were Coretta Lasha Gray Beason-Samuel, 38, along with two non-DMV co-conspirators Danavian Travon Hughes, 35 and Adolfo Maria Cruz, 45, who allegedly facilitated the issuance of a California Identification Card to an undercover officer. The DMV employee, Beason-Samuel, faces a total of 21 felony counts, including falsification of public records, unauthorized computer access and the alteration of DMV data, conspiracy and perjury and a possible sentence of 13 years in prison. She is being held on $150,000 bail. Hughes faces 11 felony counts with a possible five year sentence and Cruz faces three felony counts with a possible four year prison sentence. Both are being held on $75,000 bail. DMV Workers Made $1M Off Fake IDs: Feds 22 charged in New York identity fraud ring | ABC13 Houston Archive | abc13.com I could another couple of dozen just like this. And that is not counting the underground fake ID business.....