Give the FairTax Act a Fair Hearing – Advertiser-Tribune
Imagine a United States without the Internal Revenue Service. Imagine not paying federal income tax. Imagine not paying a payroll tax for Social Security and Medicare.
In fact, imagine there being no corporate income taxes, gift taxes, estate taxes, capital gains taxes, alternative minimum tax or self-employment taxes. Oh, and money earned on savings and investments would be tax-free, too.
Does that sound great? Now, imagine instead paying a 23-percent national sales tax on all purchases.
Does that sound like an even trade? That, in essence, is the FairTax plan, which aims to simplify America’s tax structure while being “revenue neutral” – raising the same amount of revenue as all those aforementioned taxes…