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Sons of Liberty 2012 Battle Plan
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ONE PRIMARY REASON! THE FAIRTAX WILL ELIMINATE OVER 8,000 LOBBYISTS WHO INFLUENCE CONGRESS TO MANIPULATE THE TAX CODE FOR TAX FAVORS (LOOPHOLES) FOR LARGE CORPORATIONS, SPECIAL INTEREST GROUPS, OR WEALTHY INDIVIDUALS. WHY DO SONS OF LIBERTY SUPPORT THE FAIRTAX?
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ELIMINATES 8000+ LOBBYISTS! CURRENT SYSTEM BENEFITS CONGRESS BY RECEIVING DONATIONS AND ENDORSEMENTS FOR THEIR CAMPAIGNS WHEN SEEKING RE- ELECTION IN THE CURRENT SYSTEM, CONGRESS DOES NOT REPRESENT THE PEOPLE, THEY REPRESENT THEIR DONORS! IF THIS "MACHINE" WAS DISABLED BY NO TAX CODE LOBBYISTS, CONGRESS WOULD HAVE TO LISTEN TO THE PEOPLE (SONS OF LIBERTY OBJECTIVES) IN ORDER TO SECURE VOTES AND FUND THEIR CAMPAIGNS THIS IS A TRUE TRANSFER OF POWER TO THE PEOPLE SO OUR SOL OBJECTIVES WILL HAVE MORE VOICE AND REPRESENTATION WHY DO SONS OF LIBERTY SUPPORT THE FAIRTAX?
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WHAT IS TAXED? All new consumer goods and services are taxed once No taxes are collected on used items Educational expenses are not classified as consumption and are not taxed Investments are not classified as consumption and are not taxed FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
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FOR INDIVIDUALS HR25/S13 ESTABLISHES A 23% CONSUMPTION TAX ON ALL NEW GOODS AND SERVICES BROADENS THE BASE OF TAXPAYERS FROM WAGE EARNERS TO ALL CONSUMERS REPEALS THE INCOME TAX, PAYROLL TAXES (fica/medicare), ESTATE TAX, CAPITAL GAINS, GIFT TAX, ALTERNATIVE MINIMUM TAX, SELF EMPLOYMENT TAX (22% EMBEDDED TAX IN THE AVERAGE PRODUCT MANUFACTURED IN USA) ELIMINATES ALL INCOME TAX RETURNS FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
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FOR INDIVIDUALS THE POVERTY LEVEL (FAMILY OF 4 EXAMPLE) Poverty Level: $27,380 Prebate of $525/month All purchases up to $27,380 untaxed 23% tax on consumption of new retail goods and services above $27,380 No FICA tax of 7.65% FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
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FOR INDIVIDUALS MORTGAGE & CHARITABLE DEDUCTIONS Deductions are not needed, because you don’t pay any income tax Taxpayers must itemize to take advantage of mortgage interest deduction and charitable deductions –only 30% do Everyone will pay mortgage payments with pre-income tax AND pre-payroll tax dollars. FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
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FOR INDIVIDUALS SENIOR CITIZENS Typically, contributions to pension plans are made with un-taxed dollars and compound tax-free Pension plans and Social Security benefits are free of federal income taxes Estates can be passed on to your heirs without federal tax implications Real estate holdings can be sold without federal tax implications FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
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FOR BUSINESSES Eliminates payroll and corporate income taxes which are embedded at each level of the U.S. supply chain (22% EMBEDDED TAX IN THE AVERAGE PRODUCT MANUFACTURED IN USA) No tax on Business to Business production costs. Taxes Business and Government consumption of new goods & services No reason to be offshore for tax loopholes. Manufacturing comes home to the U.S. and U.S. assets parked offshore are repatriated FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
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FOR BUSINESSES Foreign corporations contribute to U.S. economy by locating offices and facilities here Lowers manufacturing costs for export. Price shifts will substantially increase demand for U.S. goods and services in all markets Competition will force embedded taxes to be reduced Good jobs return to our economy FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
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BENEFITS TO OUR NATION A more efficient and fair way to collect taxes Provide same revenue to Federal Government Funds Social Security and Medicare, eliminating the looming problem of insolvency Substantially improves trade deficit, budget deficit and U.S. status as a debtor nation FAIRTAX 101 DISCUSSION - WHAT IS THE FAIRTAX?
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