The FairTax Plan is a nonpartisan proposal that replaces all federal income and payroll taxes with a progressive tax on consumption (national sales tax). It includes a cash "prebate" that ensures no American pays federal taxes for essential goods & services up to the poverty level.
1-Every American can keep their entire paycheck
2-All federal income taxes- would be abolished
3-IRS and 16th amendment- would be abolished
4-Completely untaxes low-income families.
5-Untaxes tuition.
6-Existing and future savings and investments are all tax free as is the return on that savings.
7-Positive impact on retirees.
8-No federal taxes or compliance costs hidden in consumer prices.
9-Raises the same amount of revenue as the current system with much lower marginal rates.
10-Promotes economic growth and substantial wage increases for working Americans.
11-Stops the export of American jobs.
For more information visit www.fairtax.org
If this were to come to pass - My concern would be for the 100,000 or more that would be unemployed if this were to pass overnight. Anybody from IRS employees, to your local accountant, to the accounting clerk and the list goes on. Too much to swallow all at once unless the plan incorporated a way in which to transition these folk into another line of work.
It appears to be gaining support by some of our politicians, but not enough to really make one believe it is anything that will be seen in the next decade.
What are your thoughts?
Tim and Pam Cash
Clarksville TN Real Estate
Crye-Leike Realtors, Clarksville
thecashteam@cashsofclarksville.com
Regards
Tim and Pam Cash
Crye-Leike Realtors
931-338-1375 or 931-436-7617
The Cash Team - Making dreams come true one home at a time. Proudly serving the citizens of Clarksville and the Soldiers of Fort Campbell. To view available Clarksville properties, please visit our website at www.cashsofclarksville.com or email us at thecashteam@cashsofclarksville.comand we will run a custom search for you. Finding you and yours the perfect property in Clarksville Tennessee and surrounding areas is our goal.
