Tax laws impact all Americans. Lower taxes mean more money for Americans to spend and invest, thereby leading to growth in the economy. However, lower taxes reduce funding for programs such as health care, social security and education. Moreover, critics suggest that the current tax system is too complicated, has a lot of loopholes, and favors the wealthy.
Some presidential candidates support the ‘Fair Tax’ plan that calls for elimination of the IRS and income tax and replacing it with a national sales tax on new products and services. An important component of the plan is the fact that the federal government will send a monthly check to all households equaling the monthly Fair Tax a family earning at the poverty level would pay - hence, a family living a poverty level income would pay no tax.
Proposes 'Fair Tax' that calls for elimination of the IRS and income tax and replacing it with a progressive national sales tax on new products and services
Tax on necessities such as food, lodging, transportation and clothing will be reimbursed to taxpayers in the form of a monthly check
Current system allows wealthy to "game" the system
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