Are you for it or against it?? And why??
For those who do not know much about it yet. It is a tax that is being proposed to ELIMINATE federal income tax deductions from your paychecks, AND from businesses haveing to pay the Fica taxxes and all other taxxes. They will only pay taxxes when they buy retail goods. Best of all it would eliminate the need for our complicated Tax code and the IRS.
OK it will eliminate the 16th amendment that gives government the right to deduct taxxes.
The government will not take any income tax out or your paycheck or Social security or medicare taxxes.
Business people will no longer pay any taxxes for their employees.
By doing this the government figures the price of goods will drop on average of 22% due to that being the tax passdown to the consumer by the corperations.
Then the government will impliment a 23% tax that will already be incorperated into the price of good by the corperations. If something costs $100 it already has the governments cut already there.
EVERY head of household will recieve a check figured to the size of your household to cover the taxxes on nessisary goods up untill the poverty line. Its called a prebate and I do not have the figures in front of me at the moment.
So everyone will recieve all the money you make with the exception of state taxxes,a nd the figure this will cause the state governments to follow the feds too.
The tax will ONLY be applied to NEW items and services. Since they figure a 22% drop from taxxes off of goods then you add the 23 % the prices of good will generaly be left unchanged, but all your money will be comeing to you. The tax will not affect used goods and will only be applied to good sold on the retail level. Good will only ever be taxxed ONCE. Used homes will not have the taxxes. Used cars anything used will not be expected to pay the taxxes.
If you have any questions I can try to answer them or you can read the Fair tax book or go to www.fairtax.org.
If you agree then sign the petition at that website to show your support for the fair tax.