I couldnt agree more. If we didn't show up to work and not productive- we'd be fired! Somehow, we allow them to be lazy workers!

@@jennifermillsrhit6607 I wrote my representative a few years back asking this question. BOY, did I get a runaround reply. LOL! More likely some junior staffer replied I sure.

It has to be a Committee meeting.

Hey that would be following the constitution we can't have nothing like that hahaha

@Charles funnily enough, you won't find that bit in the Constitution. It was in the Declaration of Independence, though.

​@@jn8604you're correct, a very important founding document to be credited.

Yawn!

the FAIRtax is NOT, a 'Value Added TAX!!!!!!!

SO SORRY THAT YOU HAVE BEEN TOLD YOU OWE THAT MUCH!!

If you start exempting specific items, you'll go from a complex tax code with over 70k pages trying to define income, to a complex tax with over 70k pages trying to define specific "essentials."

Prebate

You will get to keep 100 percent of your paycheck . Get rid of the income tax . everyone get more pay checks think of it if you get paid 1000 dollars as your gross and depending on your current tax bracket then you see that 1000 start to dwindle from income tax social security tax etc you might see 800 or 700 dollars but if you have a 401k then you get less because of that. but you will get that 1000 dollars every week on your paycheck or whatever your current paycheck is like.

Maybe if we're lucky and work hard enough to make it happen, it will. That's the beauty of this country. We can still do it. This is beautiful as an idea because it will make people think twice about dumb purchases of cheap products and will spend more wisely. Also it will be much easier to lower the amount of the consumption tax as just one tax than it would be to reduce all the tons of different kinds of taxes we have today. You can do your taxes without stressing for multiple days clicking into a calculator trying to get the least amount possible taken from you. Time that could be spent working on passion projects that may even bring more business and prosperity to our society. The more I learn about this, the more in support for it I am. I think we need to make more people aware of this bill because its actually a pretty damn good idea, something our government hasn't had in a very long time. Unfortunately I think biden would shoot this bill down. We have to have a president in the office who will pass this when it gets to their desk. I think Vivek or Trump are likely candidates for that. But that's just my perspective and if some positive change on taxes doesn't happen in the near future I fear for our country.

Our current system started out as a flat tax

It doesn't, at least not directly. You pay them now on top of all the federal income taxes, you pay them on top of the national sales tax. Because states tend to follow the federal rules on taxation, they would be naturally encouraged to switch to a state version of the FairTax. There is nothing in the bill requiring it, but several states have already considered doing this anyway over the last few years.

​@@NareimooncattI mean it's definitely a step in the right direction I think.

Some need them. Never worked windows, elderly. It’s the handouts to lazy People that is killing the system!

Do you agree with the idea of feeding your family before Uncle Sam? Do you believe in having control over your tax burden? Do you want to keep things as simple and efficient as possible? If so, then you'll want the prebate.

exactly- they all talk a good game, but nothing ever happens!

Why would Congress vote against their own (special) interests? That's why it's up to the public to force their hand.

I can see why. No corporate tax.

We need more Ron Paul’s in office.

yeah thats correct but no tax on your pay ,,you pay tax out of your pay and then tax on everything you buy and you pay tax even when you die ,you pay tax on toll and everything ,there are so many different taxes ypu need a personal accountant just to keep your taxes done rite or go to jail ,,crazy

Better then them having my money for a year. At least it's in my pocket till said purchase.

@@damienthomas6655 You'll pay taxes even in heaven 🤣🤣

No. The $100 item will be $129.87 if the tax rate is set at 23% as described. The rate is set in such a way it is comparable to income tax rate and not to other sales tax rates. In other words, if you make $100 and spend it, you can only get $77 worth of goods. So if you need to buy something that is $100 currently, you need 100 / 77 x $100 = $129.87 not $123. There's a need to have a transition what's currently in our retirement plans to make it fair. Money in the Roth IRA/Roth 401(k) should not be treated the same as traditional IRA/401(k)? Similarly, should unrealized capital gains suddenly disappear if this fair tax ever becomes law the day it is effective? Probably not. The fair tax is designed to replace not only the income tax but also the social security payroll tax. So is it fair if a person whom is currently retired whom paid into Social Security and Medicare through payroll tax (FICA) 6.2% + 1.45% = 7.65% and the person's employer paying 7.65% matching tax as well for a total of 15.3% for 40+ years then be asked to pay again through this new system after they stopped working? So it's an interesting academic exercise to think through a transition plan but I suppose because of such situation, it is not really that easy to have a fair transition to this system even if the system is fair without such legacy transition issues. BTW, the $129.87 is before any state sales tax because the fair tax does not replace state sales tax. Our current system have multiple retirement account options (IRA, 401(k), etc) of both Roth and traditional but they all have contribution limit of some sort to limit the tax benefit from it. With Fair tax, because there's no tax on investment, there's no limit to contribution toward investments of all types. In other words, it is a lot like dropping all of the contribution limits for the retirement plans without the restrictions of age 59 1/2 and possible required minimum distribution. It is unlike the Roth type plans because the 23% tax rate may change at some point so from that perspective, it is more like the traditional retirement plan without having so many tax brackets (I suppose pre-bate zone will qualify as 0% bracket and the rest is whatever the rate is set at that time--it could be 23%, could be 25%, could be ???) Bigger pool of people will be paying into Social Security and Medicare under Fairtax because it doesn't matter if you are working, a student whom is not working for the moment, or retired to pay a national sales tax. I suppose in that sense, it is fair but when you transition out of a system that has been limited to payroll tax only, unless you have some way to adjust for people in different stage of life, it becomes unfair. I am disappointed with this video because it only showed the pro-fair tax side and not the downside to it to have a balanced view of the debate.

How do you know that when HR-25 says JUST THE OPPOSITE? Cite us to your source please.

haha someone making $5000 paying $5000 while a millionaire paying $5000. right.

HR 25 fund Social Security through a consumption tax.

I will have food money left over with no fed tax

This is only a replacement of the federal income tax. We may be able to work on other federal excise taxes at a later time, but there's no way to have a federal tax replace a state or local tax.

People are also materialistic. There may be a small turn down at first as people kickstart savings or pay down debt, but they will have more money burning holes in their pockets that they will spend.

If it's used, it wouldn't be taxed. They will also have more disposable income, making it easier to save up for a down payment and pay the mortgage. And as mentioned in the presentation, interest rates would go down as well.

We need to limit spending by the population. The ride is over.

Flat tax. 15%

Why wouldn’t they? It’s still a tax, one that is more fair, except for the huge percentage and causes the rich to pay their fair share.

Well technically everything would go down in price because sellers already pass the tax they pay onto us.

That's already covered by the prebate. The statutory rate is 23% inclusive, but it's your effective rate that matters. You are in control of that by not taxing poverty level spending, and not double taxing used items (which they didn't mention, but is part of the plan). And consider this, that savings and investments are just delayed spending. All that money the rich put away doesn't just vanish. It will eventually be withdrawn and spent, and the tax applied accordingly at that point.

Can't afford 23 dollars If you didn't pay out 100 to 200 peer week in income ?

Do the math

No it does not. They get all types of welfare and blow it on stuff they shouldn’t. Well now they can actually contribute to the tax system like the rest of us! Instead of always taking! Then there’s the “pre-bate”! I guess you think that’s fair? Sorry, I don’t!

I work and pay tax always I save small many years to years.

Then we must spend our money on necessities and less frivolous things.

Firstly, it is completely unfair and incomprehensible that anyone would pay nothing in Federal taxes. Secondly, about 60% actually recieve more in tax "credits" than they pay in total taxes Federal State and local. So the situation is completely untenable. "Socialism is great, until you run out of other people's money." Lastly, all the various Flat Tax proposals have exemptions for either a minimum income level (which would likely lead right back to the disaster we're in now with tax "credits") or for certain types of expenditures like food and energy. Considering the difference in percentage of income spent on food and energy, higher income individuals would still pay a MUCH larger effective tax rate.

That claim only considers personal income tax, and not all federal income tax. You still have 14.2% in FICA, which is not deductible. There's also at least 18% tax embedded in every purchase to cover the employee and corporate income tax throughout the supply chain. For someone living paycheck to paycheck, that's over an effective 30% income tax before you even get to calculating their personal income tax. Now compare that to the FairTax, where everyone starts at zero and your effective tax rate doesn't go up until you spend over the poverty threshold, and then only when buying new goods and services.