HR 25, FAIR TAX, will end all Personal Income Taxes, Business Income Taxes, Payroll Taxes, Capital Gains Taxes, Estate & Gift Taxes, Alternative Minimum Taxes. There will be no more tax on labor, hard work, productivity, savings and investment. Instead a national sales tax would be charged when buying services and NEW goods. No tax on used products and basic necessities. Here’s how; every American citizen will receive a monthly prebate to cover the federal sales tax on necessities such as food, clothing, and shelter.
Latest Title: Fair Tax Act of 2013
Introduced by Representative Woodall, Rob [GA-7] on 1/3/2013. Cosponsors (66). 1/3/2013 Referred to House Committee Status: Referred to the House Committee on Ways and Means.