Keep Your Entire Paycheck. Make April 15 Just Another Day

Tuesday, May 08, 2007

LINDER ANNOUNCES RECORD 60 CO-SPONSORS FOR FAIRTAX BILL


Washington, D.C. - Congressman John Linder (GA-07) announced today that his revolutionary tax reform legislation, the FairTax, achieved 60 co-sponsors, which is a record number for H.R. 25.

“I am ecstatic, but I have to say, I am not terribly surprised. This has been the case all year. Grassroots support across the nation is motivating Members to call us up and ask for information on the FairTax, and when they read it they are always eager to put their name on the bill.”

Congressman Linder pointed out that the FairTax is the most highly co-sponsored piece of tax reform legislation in U.S. House of Representatives. In fact, the Flat Tax, which is the only other serious piece of tax reform legislation in the U.S. House of Representatives, falls far short of that number with only four.

“Again, I am just not surprised. In fact, this past Saturday I traveled to Macon, Georgia, to speak to another FairTax training session. They had around 50 people come out for several hours, on a Saturday, to learn how they can better educate others on the FairTax. That is real passion, and it is real traction, and I think that is what you see reflected in this incredible list of co-sponsors.”

Congressman Linder also expressed his appreciation to Representatives Darrell Issa (CA-49) and John Boozman (AR-03) for being the most recent cosponsors of H.R. 25, and for surpassing the bill’s highest number of co-sponsors in merely the first four months of the 110th Congress.

16 Comments:

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Sunday, October 07, 2007 12:23:00 PM

 
Anonymous Tax Skeptic said...

I hope this Fairtax passes. WE all need to learn how economics works.

Fairtax can't possibly work. Its going to enrage 2 million nursing home patients, and 20 million cancer patients.

Congress does a lot of stupid things -- enraging the elderly with a huge tax isnt one of them. No one who wants to stay in office will make these folks pay these huge taxes.

Nursing home patients will be taxed 2,000- 5000, a month, with this tax. Cancer patients could be TAXED 50,000 dollars on their efforts to stay alive -- cancer, chemo, radiation, doctor visits, hospitalization.

Plus - Fairtax inexplicably taxes the federal government a sales tax, and counts the recipts it gets from itself as a gain. Thats lik paying yourself 10,000 dollars for cutting your own grass, and calling it a gain.

If economics worked that way, we would all be millionaires, and have very very short grass.

If Fairtax were enacted, it wouldnt last long. Congress would quickly give exemptions to health care an the Pentagon.

Plus, renters would be pissed as hello, and demand an exemption.

SO all the cost will come down 30%? Tell that to the renter. Renters cost are almost unaffected by the embedded taxes on apartment complexes.

And the entire 30% "embedded" cost is wildly exaggerated.

Sunday, February 03, 2008 2:43:00 PM

 
Blogger Ian said...

Gov. Huckabee's advocacy of the FairTax is the single most important policy position in this election. Research findings explain why:

The FairTax rate of 23 percent on a total taxable consumption base of $11.244 trillion will generate $2.586 trillion dollars – $358 billion more than the taxes it replaces [BHKPT].

The FairTax has the broadest base and the lowest rate of any single-rate tax reform plan [THBP].

Real wages are 10.3 percent, 9.5 percent, and 9.2 percent higher in years 1, 10, and 25, respectively than would otherwise be the case [THBNP].

The economy as measured by GDP is 2.4 percent higher in the first year and 11.3 percent higher by the 10th year than it would otherwise be [ALM].

Consumption benefits [ALM]:

• Disposable personal income is higher than if the current tax system remains in place: 1.7 percent in year 1, 8.7 percent in year 5, and 11.8 percent in year 10.

• Consumption increases by 2.4 percent more in the first year, which grows to 11.7 percent more by the tenth year than it would be if the current system were to remain in place.

• The increase in consumption is fueled by the 1.7 percent increase in disposable (after-tax) personal income that accompanies the rise in incomes from capital and labor once the FairTax is enacted.

• By the 10th year, consumption increases by 11.7 percent over what it would be if the current tax system remained in place, and disposable income is up by 11.8 percent.

Over time, the FairTax benefits all income groups. Of 42 household types (classified by income, marital status, age), all have lower average remaining lifetime tax rates under the FairTax than they would experience under the current tax system [KR].

Implementing the FairTax at a 23 percent rate gives the poorest members of the generation born in 1990 a 13.5 percent improvement in economic well-being; their middle class and rich contemporaries experience a 5 percent and 2 percent improvement, respectively [JK].

Based on standard measures of tax burden, the FairTax is more progressive than the individual income tax, payroll tax, and the corporate income tax [THBPN].

Charitable giving increases by $2.1 billion (about 1 percent) in the first year over what it would be if the current system remained in place, by 2.4 percent in year 10, and by 5 percent in year 20 [THPDB].

On average, states could cut their sales tax rates by more than half, or 3.2 percentage points from 5.4 to 2.2 percent, if they conformed their state sales tax bases to the FairTax base [TBJ].

The FairTax provides the equivalent of a supercharged mortgage interest deduction, reducing the true cost of buying a home by 19 percent [WM].

ALERT: Kotlikoff refutes Bruce Bartlett's shabby critiques of the FairTax.

Sunday, February 10, 2008 5:37:00 PM

 
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Monday, March 31, 2008 3:22:00 AM

 
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Thursday, April 10, 2008 2:48:00 AM

 
Blogger MARK said...

Fairtax is sadly a Farce. Its literally a farce.

And now, Boortz and others have admitted you DONT get to "keep your whole paycheck".

Most fairtax fans thought they would get larger take home checks from work. Wrong.

Now, Boortz has admitted the employer can KEEP the money you used to pay in for FICA and income tax. You don't get to keep it, if your employer wants it.

Strange.

But even apart from that, Fairtax is a farce. It was always a farce. It depended on the absurdity of the federal government PAYING almost a trillion dollars a year, in its OWN taxes.

Thats nonsense -- the gov has to PAY those taxes -- so its not INCOME to itself.

Some people will say, "well the gov has to pay taxes to be fair"

Fair? Its impossible! The gov can't count that as income. Its absurd, its crazy as a loon. Its mad as a hatter.

This is just ONE absurdity of Fairtax. Still, just this ONE absurdity means the real tax rate will have to be more like 50%,

Wednesday, May 07, 2008 6:47:00 AM

 
Anonymous Anonymous said...

Farce or not. I'll gladly show you what my paycheck says as of RIGHT now...

Gross Earnings ( + ) 41,230.43

Net Pay ( = ) 27,884.71



Now you tell me. Is that not the most jacked up thing. That is how much I get taxed EVERY paycheck. Our tax system is broke, it's a walking train wreck, and it's a disgrace. Maybe your one of those super rich people that can write off everything from towels to condoms, but not all of us can do that!

Thursday, June 26, 2008 11:24:00 AM

 
Anonymous SBL said...

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Anonymous tax liens investing said...

Fairtax consumption benefits are not even given thorough discussion when it should be examined fairly from the flat tax.

Tuesday, December 14, 2010 10:18:00 PM

 
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Good luck to this Fair Tax...I really found this post an informative read,,,thanks for sharing

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