PROJECT HR25
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Below is a snapshot of the FAIRTAX ACT(HR 25, S 296),which I have a link to answer any questions about the legislation in detail:
The FairTax plan is a comprehensive proposal that replaces all federal income and payroll based taxes with an integrated approach including:
A progressive national retail sales tax.
A prebate to ensure no American pays federal taxes on spending up to the poverty level.
Dollar-for-dollar federal revenue neutrality.
Repeal of the 16th Amendment through companion legislation.
The FairTax Act (HR 25, S 296) is nonpartisan legislation. It abolishes all federal personal and corporate income taxes, gift, estate, capital gains, alternative minimum, Social Security, Medicare, and self-employment taxes and replaces them with one simple, visible, federal retail sales tax administered primarily by existing state sales tax authorities.
The FairTax taxes us only on what we choose to spend on new goods or services, not on what we earn. The FairTax is a fair, efficient, transparent, and intelligent solution to the frustration and inequity of our current tax system.
PROJECT HR25 is the name of the documentary our group plans to film across the country for three months on three different locations. The idea is to have one so called nuclear family in Chicago, New York and Los Angeles live their normal lives, but to recalculate every expense and reimburse them based on the FairTax. As well as furnishing them the prebate. In doing so, we would give a real life example of how well life would be without the current tax system.
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Copyright © 2009 J. Ligon. All Rights Reserved.