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The FAIRtax Guys discuss the many problems with the current federal income tax and the solution to all those problems, the FAIRtax.
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FAIRtax Power Radio
FAIRtax Power Radio
21 AUG 2024 · Kamala Harris has picked up on Donald Trump’s idea of exempting tips from the income tax.   Clearly, both candidates are trying to woo votes from workers in the service industries who rely on tips for their living. But what happens if you carry that idea even farther and stop taxing income altogether?
This week the FAIRtax Guys examine an article published on fairtax.org detailing what happens to the economy if we switch from taxing income to taxing consumption. Here’s a hint: The economy takes off like wildfire.
14 AUG 2024 · The FAIRtax would represent a seismic shift in the paradigm of how taxes are collected in this country. Consequently, there are bound to be questions and criticisms regarding how the FAIRtax would work and the impact it would have on the American taxpayer. Some are honest, some are rooted in a vested interest in keeping the current income tax system.
This week, the FAIRtax Guys conclude their journey through Boortz and Linder’s original FAIRtax book by covering some of the questions and objections noted in Chapter 15.
7 AUG 2024 · Over the years, the IRS has been described in a number of different ways. Kind, understanding and co-operative are not on the list. Instead, you’ll hear words like unreasonable, vicious, malicious, high-handed and vindictive. Some have even labeled the agency as a criminal enterprise that operates with a flagrant disregard for the law and without regard for basic human decency.
This week, the FAIRtax Guys review chapter 14 of the FAIRtax book in which Boortz and Linder detail some of the maddening, frustrating and even tragic encounters people have had with the IRS.
31 JUL 2024 · Social Security and Medicare are two incredibly popular Federal programs that millions of seniors have grown to depend on in their retirement years. There’s only one problem. Both are going broke and politicians in both parties have been reluctant to make the tough changes necessary to bring them back to solvency. No one is going to get re-elected by promising to cut benefits or tighten eligibility requirements.
Fortunately, chapter 13 of the FAIRtax book has the solution. Change the funding source from just those people working for a paycheck to everybody who buys things beyond their basic necessities.
24 JUL 2024 · Since the FAIRtax was introduced into Congress in 1999, one thing has remained consistent. Economists from both sides of the aisle have been nearly unanimous in their agreement that a consumption tax like the FAIRtax would be much better for the economy than an income tax.
This week, the FAIRtax Guys examine chapter 11 of the FAIRtax book in which Boortz and Linder look at what happens to the American economy on the day the FAIRtax replaces the income tax. They also take a brief look at chapter 12 which details where opposition to the FAIRtax will come from.
17 JUL 2024 · The income tax is ridiculously easy to evade. The latest estimates say that illegal tax evasion costs the government around $1 trillion a year. A large part of the evasion problem is the fact that billions of dollars of income goes unreported. Drug dealers, prostitutes, and those working for cash off the books aren’t subject to withholding and don’t file 1040 forms. But those people buy things.
This week, the FAIRtax Guys dissect chapter 10 of the FAIRtax Book and look at how the FAIRtax finally makes taxpayers out of those who make their living in the underground or offshore economy.
10 JUL 2024 · The FAIRtax is unlike any other sales tax on the planet in that it does not tax every dollar someone spends. How can that be when the tax is included in the retail price of all new goods and services? Enter the FAIRtax prebate.
This week, the FAIRtax Guys discuss the most important chapter in the FAIRtax book—Chapter 9, the prebate. This amazing feature is what makes the FAIRtax a fair tax by ensuring that no one pays the tax on the purchase of basic necessities.
3 JUL 2024 · In the first six chapters of the FAIRtax Book, authors Boortz and Linder cover a variety of problems with the current income tax system. This includes topics from withholding to how the income tax inflates the prices of all of the goods and services we buy.
Beginning with chapter seven, the focus shifts to the FAIRtax. This week, the FAIRtax Guys explore the origins of the FAIRtax and begin to explain its basic structure.
26 JUN 2024 · Prior to 2017, income had to realized before it was taxable. However, the Tax Cuts and Jobs Act contained a repatriation provision that made certain unrealized income taxable. The constitutionality of that tax was challenged in court and just recently, the Supreme Court handed down its decision.
This week on FAIRtax Power Radio, tax attorney and AFFT president Steve Hayes joins the FAIRtax Guys to break down the decision and discuss what it means for the future of taxation in the United States.
19 JUN 2024 · The FAIRtax Guys continue their journey through Boortz and Linder’s original FAIRtax book, published in 2005.
This week, they tackle a subject that escapes most people’s attention—the embedded costs of the income tax system that are passed on to consumers in the prices of everything we buy. We never see them. They’re not listed on any receipt, but they are there nonetheless. In fact, a surprisingly high percentage of what we pay for both goods and services today ends up at the IRS.
The FAIRtax Guys discuss the many problems with the current federal income tax and the solution to all those problems, the FAIRtax.
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thefairtaxguys@gmail.com |
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