Enact the FairTax
Tue, 17 Apr 2012 22:32:46 GMT —
WASHINGTON â" At a tax-day rally on Capitol Hill today, U.S. Sen... Saxby Chambliss, R-Ga., urged Congress to support the FairTax legislation, which would implement a simpler, less-cumbersome tax code. Chambliss has introduced the legislation in the Senate.
"Today, as millions of Americans are completing the complicated, painstaking process of filing their taxes, too many of us will be reminded of just how little of our paychecks we actually see under the present tax system," said Chambliss. "Now is the time to enact the FairTax. As we have seen and heard today, there is strong grassroots support for the FairTax, which would create a fairer, simpler tax code that allows every American the freedom to determine his or her own priorities and opportunities."
Participants at the rally included Sen.. Johnny Isakson, R-Ga.; Rep. Rob Woodall, R-Ga.; Rep. Tom Price, R-Ga.; Rep. Steve King, R-Iowa; Rep. Phil Gingrey, R-Ga.; Todd McCracken, president of the National Small Business Association; Duane Parde, president of the National Taxpayers Union; and other supporters of the FairTax.
The FairTax would shift the federal government's method of revenue collection from income to personal consumption. It would repeal all federal personal income taxes, corporate income taxes, payroll taxes, self-employment taxes, capital gains taxes and gift and estate taxes, and would replace those with a revenue-neutral, personal consumption tax on all retail sales of new goods and services.