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H.R.25 - FAIR TAX ACT OF 2019 - REP. ROB WOODALL OF GEORGIA HAS PUSHED AN AUDIT THE FEDERAL RESERVE AND ABOLISH THE IRS BILL PROPOSAL AS OF JAN. 3RD, 2019

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1-8-19

H.R.25 - FairTax Act of 2017: https://www.congress.gov/bill/115th-congress/house-bill/25

The Bill Text: https://www.congress.gov/115/bills/hr25/BILLS-115hr25ih.pdf

 

FAIRTAX: https://woodall.house.gov/issues/fairtax

 

By far, the piece of legislation that I am most passionate about is H.R. 25, the FairTax, and with good reason. It is the most exciting tax proposal to ever come before the American people. The reason for this is that the FairTax isn't about simply taxes; it is about freedom, jobs, smaller government and the economy. It is about returning power to the people and finally finding a way to ensure America's economic growth. It is about completely abolishing the IRS and stripping the Federal government of the opportunity to dig deeper and deeper in the American people's personal pocketbooks.

 

The FairTax is a simple plan that people can understand, get excited about, and support 100% because it is a plan of hope. It is a plan to remove the heavy hand of government from your personal pocketbook and put you in charge of your finances and your life. Our nation was founded on the fundamental concept of individual freedom. Our current income tax system taxes hard work—stripping Americans of their incentive to work hard and pursue the American dream.

 

The American people deserve better, and I am proud to be their champion in Congress who will fight to restore freedom.

 

People from all over the world flock to America to pursue a better life free from tyranny and oppression, yet as government and taxation grows this vision is threatened. Our founders came to America seeking independence and freedom, and when that freedom was challenged by the British government, they threw off the shackles of tyranny and made a radical decision. History shows us that the critical decision our Founding Fathers made on July 4, 1776, reverberated around the world in defense of freedom. Our Founding Fathers were not afraid to challenge a government that was infringing on their personal freedoms, and today we cannot be afraid either. Though we thankfully do not face such dire circumstances as our Founding Fathers did, we do face a government gone out of control. I believe that one simple solution to this problem is the FairTax.

 

The FairTax is a plan for every American, no matter what his or her income might be. Specifically, the FairTax would repeal all Federal corporate and individual income taxes, payroll taxes, self-employment taxes, capital gains taxes, the death tax, and gift taxes - and replace them with a revenue-neutral personal consumption tax. Overnight, the FairTax would allow individuals to keep 100% of their income without the government taking a penny up front. Overnight, we would eliminate the IRS from the lives of all American workers.

 

Allow me to give you some fundamental truths that relate to the FairTax and are the bedrock of what make this legislation so special.

 

• Transparency: Under the FairTax, every American will pay the same percentage of tax on every new item they purchase. At a time when the popular political ploy pits one group against another and promises no pain but all gain, it could not be clearer that America needs the FairTax. The FairTax really is the only system that shows Americans clearly and concisely exactly how much money they are sending to the Federal government: 23% on every purchase of new goods and services. It is the only proposal to completely eliminate all loopholes, exceptions, and exemptions so that all Americans know their neighbor has just as much skin in the game as they do.

 

• Simplicity: Our current tax system is a bloated, convoluted mess that is designed to allow the Federal government power over the individual and their finances. The FairTax would immediately eliminate this misplaced power and put it back into the hands of individual Americans. The FairTax would eliminate the frustrating mess and hassle of exceptions, exemptions, deductions, and credits that Americans suffer through each April. Tax returns for individuals would be a thing of the past. Instead, the FairTax would place a simple 23% tax rate on the purchase of new goods and services that would be collected by the merchant.

 

• Fairness: It's in the name! Every American is treated the same. Every product and service is treated the same. No exceptions. To be fair to those who are down on their luck and cannot afford the tax, the FairTax provides that every American can purchase essential goods and services tax free up to the national poverty level through a tool called the prebate. A prebate would be a check from the Federal government sent to every registered family at the beginning of each month to cover the costs of basic living. The amount of the prebate that each family would receive would be based on the U.S. Health and Human Services report of the Federal poverty level, estimated at the beginning of each year. This estimate would determine just how much money a family needs to meet their basic living expenses, and these expenses would be made totally tax free.

 

• American Dream: The FairTax would allow every American to achieve the American Dream. Right now, we are punished by the government for working hard and making money to support our families. The FairTax would eliminate that unfair burden and lift all income-related taxes. Hard-working Americans would keep their entire salary and pay taxes on their terms.

 

• Freedom: By eliminating all the manipulative provisions from the Internal Revenue Code, we would establish a system that allows for complete freedom for each and every individual, regardless of his economic status. We would abolish all of the power that Congress has today to manipulate you through the tax code, and we would transfer that power to the individual, from whom it was stolen and to whom it rightfully belongs.

 

When the Joint Committee on Taxation in Congress studied what would happen if a national consumption tax were implemented, economists from the far left to the far right agreed that the American economy would grow faster under a true consumption tax system than it does today.

 

The promise of the FairTax is an American economy that can continue to grow and thrive in the 21st century. To learn more, please visit the FairTax website at https://www.fairtax.org.