Keeping a flat tax flat is like eating chocolates – you can’t stop with just one. Income tax started as a flat tax but legislators can’t keep their hands off your goodies. The more chocolates you make, the more they take.
FairTaxHR25, a healthier jumpstart of economy, is a single-sales tax on purchases of new goods and services. No tax on business activities, income, inheritance, gifts, or used goods. No IRS. A prebate allows tax-free spending until you spend more than the poverty level of spending for your size family.
The Tax Foundation says we spend $350-$400Billion annually to fill out forms. Small businesses pay $724 to figure how to remit $100 of taxes. Income tax drives $15-20Trillion offshore. $350Billion tax gap is owed but not paid when tax returns are submitted. Only 72-75% of taxes owed are collected. Although, the IRS will collect $2.3Trillion in revenue this year, FairTaxHR25 would have collected 10% more!
Pass FairTaxHR25. During the first year, the GrossNationalProduct increases 10.6%, exports increase 26% and capital investment rises 70%.
Facts are from Senator Linder’s (the bill’s original sponsor) presentation at Hillsdale College: http://www.youtube.com/watch?v=6szslYYlRr8
Learn about FairTax25 at www.fairtax.org. Call your representative. Demand support for HR25.