How the FairTax Helps You and Me...

• Immediately, you can decide how much money you contribute to the government each year. If you buy used goods, you don't pay tax. If you buy new goods you do. YOU decide. Due to the FairTax prebate, you will not pay taxes on necessary goods & services up to the poverty level.



• You will most likely get to keep a bit more of your paycheck. Your employers will no longer take out Federal taxes, Social Security (FICA), and Medicare (however, in order to keep prices of goods and services the same, they will most likely not give you your "before tax" paycheck either! And, you will still have to pay state income tax (if your state charges it) and any other benefits you are currently paying. But, as the job market opens up, you will be better able to negotiate wages which reflect your contribution. If not, you will more likely be able to get another job where you can! No Taxes to pay...



• The FairTax will have a monthly check with your name on it to cover the cost of taxes on essential items up to the poverty level. For a family of four, that amounts to $492. Every family gets it, no exceptions!



• Retirement planning becomes a lot easier. No special 401Ks or IRAs are needed. Just invest tax free money and earn money that is not taxed! Those already saving in tax deferred savings plans won’t owe taxes on that money when the time comes to “cash in.” And, we’ll probably find all kinds of new ways to save for retirement with no tax burden!



• You can save and/or invest your money without having to pay taxes on the money you make.



• You can win the lottery and not have to pay taxes on that money!



• If you have the money, you can give it away to help others without having to pay tax on that money.



• You no longer have to worry that the AMT is going to “get you.” (Alternative Minimum Tax is the wonderful IRS policy that ensures you pay taxes. If your deductions are too high as compared to your income, you don’t get to use deductions afterall.)



• Your family won’t go broke paying the taxes on your “estate” when you die—that is, if you even have an estate!



• The need for the IRS (as we know it) will be eliminated! We won’t have to worry that we’ve done something wrong and that they’ll come after us.