The "Fair Taxers" Are Back

SUMMARY AS OF:
1/4/2007--Introduced.

Fair Tax Act of 2007- Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2007.

Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23 percent in 2009, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes and for State government functions."

One of our volunteers commented:

"This is not a good thing. I hope that everyone takes time to really READ the entire bill and not just skim read it or listen to someone else give a review of it." Click here to learn more.