1. Creates jobs where the current system destroys jobs.
By stripping out hidden federal income taxes and complaince costs, the FairTax makes the U.S. goods more competitive overseas and more affordable at home, thereby sharply increasing job creation while sharply reducing our balance of payments deficit.
2. Gives you your whole paycheck. No federal
withholding! What you earn, you get.
3. Eliminates Social Security withholding, the most aggressive tax of all, while ensuring the system fulfills its promise to one generation without being a burden on the next.
4. Eliminates the corporate taxes and costs of compliance hidden in both wholesale and retail prices.
5. Dramatically lowers effective tax rates for lower and middle-income; a rebate ends taxes up to the poverty level.
6. Allows families to save more and faster for home ownership, eduction, and retirement.
7. Allows homeowners to pay their entire house payment with pretax dollars, a great improvement over the current home interest deduction.
8. Frees up time wasted on filling out cumbersome and inscruable IRS forms throughout the economy to the tune of $250 billion or more (about three percent of GDP)
9. Raises the same amount of revenue for the federal government (revenue neutral)
10. ABOLISHES THE IRS!