Allows wage-earners to save more and faster

The FairTax would allow wage-earners to save more and faster for home owner-ship, education, investments and retirement. The FairTax increases your purchasing power, making it easier to get ahead financially by eliminating:

• the individual income tax
• the payroll income tax
• the estate tax and the gift tax
• capital gains taxes
• the alternative minimum tax
• the self-employment tax
• the corporate income tax

Each individual would have their entire paycheck to spend as they wish, save for a new home, pay their child's tuition, invest in the future, etc. Take a look at your pay check and add up the amount that is deducted each pay period for taxes. This is the amount you would be able to use to advance yourself monetarily in whichever way you choose.

The elderly would receive their entire social security check, not a check minus the deduction for medicare. (Medicare as well as Social Security deductions will be paid through the consumption tax) They would also have the prebate to help them with monthly expenses. Lots of older people don't spend more than a minimal amount for new goods and services. They already have a life-time accumulation of furniture, dishes and "things", so the consumption tax is not going to be a problem for them.

The poor do not spend a lot on new goods and services, because they don't have the money to spend. The prebate will be a god-send for them. The poor buy used cars, clothing and "things", which will be exempt from the consumption tax. They will actually be better off and may even be able to get ahead in this world, for a change.

The rich will continue to spend as they have become accustomed to. They are used to buying the newest and the best and they will continue to do so. In fact, they will be paying their fair share for the first time in their lives because they can't hide their money in tax loop-holes or off-shore accounts. Well, they can, but they can keep it here now, circulating in the U.S.A. because they are no longer penalized or taxed to the max for having it.

None of us will be penalized for earning a living, as we are now. To read more about the FairTax, go to www.fairtax.org and read the basics or read the bill itself (HR25 & S1025)

I believe workers should keep their whole paychecks, don't you? www.FairTax.org