The FairTax will replace the Internal Revenue Code with a consumptionI'm not sure how much this tax will bring in as opposed to the Income Tax but I wholeheartedly support the thing 100%. It seems like the money would be alot less but I have no idea since alot of the flat taxers out there use lots of different revenue figures in their calculations. In any case this FairTax means no Capital Gains Taxes and no Dividend Tax (which I hate with the fire of a 1000 suns!) Just not having to do my taxes every year and having to record each one of my options trades would be worth putting this guy in office.
tax, like the taxes on retail sales forty-five states and the District of
Columbia have now. All of us will get a monthly rebate that will reimburse us
for taxes on purchases up to the poverty line, so that we're not taxed on
necessities. That means people below the poverty line won't be taxed at all.
We'll be taxed on what we decide to buy, not what we happen to earn. We won't be taxed on what we choose to save or the interest those savings earn. The tax will apply only to new goods, so we can reduce our taxes further by buying a used car or computer.
In fact if Huckabee wins then buy Ebay stock since they will be swamped with people buying used goods so that they can avoid having to pay the FairTax. I will also try to make the majority of my purchases right up to the poverty line and save everything else so I can get the maximum tax reimbursements. Huckabee is a brave man and a great man and he will be the next President in 2008. A vote for Huckabee is a vote for never having to pay income taxes again! I might even give him some cashola for his campaign. And that would be a first for me.
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