Why the FairTax benefits Seniors 
 
Senior Couple

  • The FairTax ensures Social Security’s soundness by funding it with a progressive, broad-based national retail
    sales tax, rather than the current regressive, narrow payroll tax.
  • The FairTax rebate zeros the retail taxation of necessities,
    up to poverty-level spending, for seniors. 
     
  • The FairTax repeals the taxation of Social Security benefits and adjusts Social Security indexing to protect seniors. 
     
  • The FairTax ends all record keeping and income tax filings of any kind for seniors, totally insulating them from the high costs and abusive tactics of tax preparers. 
     
  • The FairTax does not tax used goods, giving low-income seniors choices. 
     
  • The FairTax reduces manufacturers’, services’, and retailers’ costs, allowing them to lower costs to seniors. 
     
  • The FairTax delivers a tax holiday on IRAs and other tax-deferred plans. 
     
  • The FairTax ends gift and estate taxes, along with all of the unfairness to heirs and complex planning for those who earned the money. 
     
  • The FairTax allows seniors to sell their homes and pay no capital gains taxes. 
     
  • The FairTax generates an economic boom, which eases future budget pressure on seniors’ entitlements. 
     
  • The FairTax lowers average remaining lifetime tax rates. 
     
  • The FairTax ensures your grandchildren have the same opportunity you did.