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Update: The Supreme Court Ruling
Yesterday's Supreme Court Ruling on
the Affordable Health Care Act, aka "Obamacare," suprised many
Americans and one again places a sharp focus on taxes.
In his ruling, Chief Justice Roberts provided a clear and
compelling admonition for voters when he said,
"Members of this Court are vested with the authority to interpret
the law; we possess neither the expertise nor the prerogative to make policy
judgments. Those decisions are entrusted to our nation's elected leaders, who
can be thrown out of office if the people disagree with them. It is not our job
to protect people from the consequences of their political choices."
We agree. The path forward on Obamacare and tax reform resides
with the American people.
Americans for Fair Taxation’s sole focus is educating the public,
candidates and the Congress about the FairTax Plan - the ONLY tax plan that
completely replaces the current income tax system with a single, fair and
transparent consumption tax.
It is the only tax plan that gives control of paying taxes back to
the taxpayer.
It is the only tax plan that eliminates the IRS.
After yesterday's high court ruling and its implications for
taxpayers - voters, candidates and Members of Congress are giving the FairTax a
well-deserved second look.
Will you please consider
helping the FairTax by DONATING $10, $20, $50 or more?
You have a voice with the FairTax. Working together we can make
our voices heard! Don't wait.
On behalf of the hundreds of thousands of men and women across the
nation committed to passage of H.R. 25/S. 13 "The FairTax Act of
2011," thank you!
The FairTax in the News
Ditch the income tax, adopt FairTax – Seminole
Chronicle
In concept, the FairTax plan is simple. Abolish the income
tax completely, and get rid of the Internal Revenue Service. Repeal the 16th
Amendment so income cannot be taxed. Replace the income tax revenue with an
equal amount using a national sales tax. Same tax dollars, a different point of
collection.
It is what the above actions affect that can become a little
complex.
Because the FairTax removes the tax and the compliance costs
from business, it has certainty in its future, enabling it to grow as consumer
demand calls for more products or services. The reduced costs make our exports
competitive with the foreign competition increasing demand for the "Made
in America" label. This will cause more job growth here. Elimination of
the tax on business will mean we become the business haven of the world
bringing back a good portion of the $11-$13 trillion hidden from the income tax
as well as money from foreign investors…
The tax rate is 23 cents of each dollar, but the effective
tax rate for most people above the poverty threshold will be about 11 percent.
No tax is to be paid on basic essentials. To keep loopholes out, tax is paid at
the register but all qualified people can receive the prebate compensating them
in advance each month for the tax paid on essentials.
- Larry Walters
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