HR 25 Fair Tax Review
Our purpose on this website is to provide a conduit for information about HR 25, Fair Tax. We will guide you to information from the leading tax experts, professionals, and citizens relating to federal taxation. The main goal is to educate the public and promote HR25/S 122, Fair Tax, as the way to eliminate taxing income and abolishing the IRS. This bill is currently under consideration in the House Ways and Means Committee, and has 74 cosponsors, with hundreds of thousands of citizen supporters. Fair Tax is a national retail sales tax (consumption tax) that would eliminate: personal, business, payroll, capital gains, estate, gift, and alternative minimum taxes (AMT) There would no longer be a need for the IRS or preparing any type of federal tax returns. Under the income tax you may receive an annual “IRS Refund’, but under Fair Tax you would receive a refund every month. Rather than taxing labor, savings, and investment, only consumption of new goods and services would be taxed, making it simpler, fairer and less complicated.
It is a safe assumption, that many Americans sense that our tax system is broken and beyond repair. Using taxation as a weapon against any group or individual in America, just can not be tolerated. Replacing our current federal taxation system of taxing income with HR 25, Fair Tax, taxing consumption, would eliminate the abuses we have seen. The question now is, will the American People engage their congress to demand the enactment of HR 25? Congress wants to know that they have the support of the people before they undertake such a major, fundamental change in an income tax system that has been in place for 100 years, even though they know that taxing labor, savings and investment hinders the growth of our economy. After all it is the job of Congress to represent their constituents.
We encourage readers to contact their representatives with informed comments on taxation. Become aware and stay engaged! Remember only HR 25, Fair Tax, will end the overreaching IRS.