Free Republic

How the FairTax Will Renew America   By Nicholas G. Bradley (Remember_Salamis) Chairman, Citizens for a New Contract with America   <![if !supportLists]>I.      <![endif]>Taxes – We must replace the income tax with a national retail sales tax (NRST), also known as the FairTax. This can be accomplished by passing the Fair Tax Act of 2003, known in the House as HR 25 and in the Senate as S 1493. The FairTax would replace all income and payroll taxes for both individuals and businesses with a tax-inclusive 23% NRST. Only goods and services purchased at the retail level would be...

Filling in for Rush, Dr. Walter Williams implies that the NRST is just re-arranging the deck chairs, the real problem is government spending.

The Demand for Tax Cuts There’s a lot of confusion about tax-rate reductions and deficits. A recent Wall Street Journal editorial excoriated four Republican senators for opposing President Bush's proposal to cut taxes permanently. While these four Republicans — Susan Collins and Olympia Snowe of Maine, John Chafee of Rhode Island, and John McCain of Arizona — oppose the new tax-cut proposal, the Journal reported that they also voted in favor of a Democratic proposition that would increase educational entitlement spending over the next six years by $35 billion. The Journal's editorial concludes: "These votes show that their real motive...

According to the Iceland sagas and chronicles, Iceland was the world's first tax haven. When King Harold unified Norway in the 870s, his first ruling was to impose a new tax on its people. The Vikings refused to pay the new tax and took off. According to the Saga, they set sail to Iceland because "there men are free from assaults of kings and criminals." Prime Minister of Iceland David Oddsson is the direct descendant of these Vikings. And, since he became the head of the Icelandic government in 1991 he has also proven to be a very wise ruler....

National Enterprise Zones of Choice: Demonstrating the Power of Tax Reform and Ending Economic Dependency March, 2003 Introduction There are three massive, continuing public policy failures underway in the United States. These failures are needlessly preventing millions of people from achieving the American dream. One failure is our misguided approach to lifting people out of poverty; the second failure is the ineffectual way we finance and deliver education; and the third is the self-destructive way we tax ourselves to fund the federal government. It is time to end these failed policies and allow all Americans to achieve prosperity and security...

Statement of Leo E. Linbeck, Jr., Chairman and Chief Executive Officer, Linbeck Corporation, Houston, Texas and Voluntary Chairman, Americans for Fair Taxation Testimony Before the House Committee on Ways and Means Hearing on Fundamental Tax Reform April 11, 2000 I would like to thank you, Mr. Chairman and members of the committee for the opportunity to testify before your committee on replacing the current tax system. I am the Chairman of Linbeck Corporation and voluntary Chairman of Americans For Fair Taxation (AFFT). AFFT is a grassroots citizens organization, based in Houston Texas, dedicated to replacing the current tax system with...

FairTax Frequently Asked Questions   What is taxed? The FairTax is applied to the sale of all new consumer goods and services at the final point of consumption. Used items are not taxed. Business-to-business purchases for the production of goods and services are not taxed. Back to FAQ IndexExactly what taxes are abolished? The FairTax is replacement, not reform. It replaces federal income taxes including, personal, estate, gift, capital gains, alternative minimum, Social Security, Medicare, self-employment, and corporate taxes. Back to FAQ IndexHow does the rebate work? All valid Social Security cardholders who are U.S. residents receive a monthly...

Collins Calls for Bold Action to Reduce Tax Burden On American Workers WASHINGTON, D.C. (June 15) - The day after the House Ways and Means Committee approved H.R. 4520, the American Jobs Creation Act of 2004, Georgia Congressman Mac Collins, a member of the Committee, called on Chairman Bill Thomas to hold hearings to discuss replacing the current tax system with a consumption-based sales tax. The American Jobs Creation Act of 2004 would replace the current Foreign Sales Corporation-Extraterritorial Income (FSC-ETI) benefit structure with a variety of tax relief measures designed to create new jobs and promote economic growth. "While...

Shall Bush reform?Robert Novak June 14, 2004  WASHINGTON -- During the pause in prematurely frenetic election campaigning forced by mourning for Ronald Reagan, senior policy advisers to George W. Bush pondered two serious questions: What domestic policy initiatives should President Bush pursue in a second term? Which of those should he campaign on this year?  The answers will soon be debated inside the White House over how much reform Bush should risk. Political advisers are cautious and policy advisers bolder as they ponder these areas: Social Security, Medicare and taxes. Most likely, the president will advocate Social Security reform during...

Texas GOP Strengthens its Plank Supporting a Federal Retail Sales Tax as its Replacement for Income and Payroll Taxes. 6/4/2004 1:57:00 PM To: National Desk Contact: Genie Hayes of Americans for Fair Taxation, 800-324-7829 or genie@fairtax.org SAN ANTONIO, June 4 /U.S. Newswire/ -- At its state convention, the platform committee of the Republican Party of Texas tonight strengthened its existing plank on federal tax replacements to include statements requiring a new tax system supporting "...economic growth...job retention...and visibility in all forms." This is in addition to already strong wording requiring replacement all forms of income and Social Security taxes with...

http://burns.house.gov/html/news_item.cfm?id=210 Summary from Max Burns (GA Rep) website. Under current IRS rules, more than 35 million Americans are prohibited from using the short form simply because they are age 65 or older. Of those, more than 15 million currently file using only the standard deduction. The Burns legislation would create the new 1040SR, allowing non-itemized filing for seniors who receive retirement income. Seniors will be able to file in less time, on a one-page form, and without being forced to annually disclose more information on their retirement savings and pension plan than necessary to determine the proper taxes due. “It...

Tax Reform The current federal tax system violates the public's core values of control, equality, effectiveness, self-reliance and justice. The system causes them to feel victimized by the IRS, motivated to cheat the system, and envious of fellow Americans in other income groups. It does not make them feel good about the way their government functions or what they get in return for their tax dollars. These views, which The Congressional Institute uncovered in recent values-based research, explain why the call for tax reform represents much more to the American people than the mere adjustment of tax rates or exemptions....

BY ERNEST S. CHRISTIAN ONE ARM TIED BEHIND OUR BACK: U.S. Taxes and the International Economy Thanks to our tax code, United States companies have to compete in the global economy with one arm tied behind their backs. This handicap is partly a result of foreign envy of U.S. competitiveness, but partly a result of our own failure to make a level playing field for businesses (U.S. and foreign) within our own market. Regrettably, our tax code is biased against exports and it favors imports. It also puts a heavy burden on income that U.S. companies make abroad. This policy...

Two tax issues seem to be getting a lot of discussion on the Internet these days. First is a big increase in the gasoline tax in order to discourage oil consumption and make the nation less vulnerable to the OPEC oil cartel. Second is the idea of replacing the Social Security payroll tax with a progressive consumption tax. Both have serious flaws. The idea that a higher gasoline tax will help our energy situation is ludicrous. All European countries have far higher gasoline taxes, and they are just as vulnerable to increases in the price of oil as we are....

Since Russia adopted a flat tax three years ago, the nation’s real tax revenue has nearly doubled and the gospel of its success has spread across Eastern Europe. Even China has taken steps to consider the flat tax as a policy alternative. On January 1, 2001, a 13 percent flat-rate tax on personal income took effect in Russia, replacing a 3-bracket system that imposed a top rate of 30 percent on taxable income exceeding $5,000. According to a new report by the Hoover Institution, the flat tax has been an unqualified success: After 3 years under the flat tax, real...

Tax Code Repeal Bill Introduced in Senate Craig joins effort as an original cosponsor WASHINGTON, DC – Idaho Senator Larry Craig joined Senator Sam Brownback and other colleagues today in introducing legislation to repeal the Internal Revenue Code on December 31, 2007. The legislation would mandate a new code that: Applies a low rate; Provides tax relief for working Americans; Protects taxpayers’ rights; Eliminates bias against savings and investment; Promotes economic growth and job creation; and Treats married couples the same as singles. “Our tax code is in desperate need of overhaul and this legislation is a catalyst to ignite...

Full Text IPI Policy Report - # 174Putting Taxpayers First: A Federal Budget Plan to Benefit the Next Generation of American Taxpayersby Stephen Moore on 01/13/2004 Pages SynopsisExecutive SummaryPress Release (01/13/2004)Press Release (02/17/2004)Media Advisory (01/13/2004)Media Advisory (02/26/2004)Full Text PDF Introduction: Fiscal Meltdown In WashingtonCall it fiscal malpractice. Call it the triumph of the special interest over the national interest. Call it whatever you wish, but there is no denying the dismaying reality: Washington is hemorrhaging money at the pace that one typically observes only in a bankrupt third world nation. In just the past three years the federal budget...

The End of Income Taxes by David A. Hartman The tax cuts proposed by President George W. Bush take significant steps toward the reform of a federal tax code that retards growth of the capital stock, productivity, and incomes of all Americans. His plan to eliminate the death tax, increase expensing of investment for small businesses, end double taxation of dividend income, expand “returns exempt” taxation of IRA savings, and lower progressive rates on individual incomes are all welcome contributions toward a more efficient tax code. Yet even if it is enacted, the President’s proposal will likely add more obstacles...

A Value-Added Tax Contrasted With a National Sales Tax March 19, 2003 James M. Bickley Government and Finance Division SUMMARY Proposals to replace all or part of the income tax, proposals for national health care, and a proposal to finance America’s war effort have sparked congressional interest in the possibility of a broad-based consumption tax as a new source of revenue. Both a value-added tax (VAT) and a national sales tax (NST) have been considered by some Members of Congress. A firm’s value added for a product is the increase in the value of that product caused by the application...

Collins Salutes National Small Business Week: Small Businesses are Great for America WASHINGTON, D.C. (May 14) - President Bush has proclaimed next week, the week of May 16-22, as "National Small Business Week", and designated it as a time to celebrate and recognize America's small business entrepreneurs.     Congressman Mac Collins (R-Georgia), a small business owner himself, joined the President in commending small businesses and called on Americans to salute small businesses in cities and towns throughout the state of Georgia for the great service they provide to their communities.    "I love business, especially small business, because businesses...