Fairtax Power Radio

This week, the FAIRtax Guys continue their look at some of the basic fundamentals of the FAIRtax.Again using the FAQ at fairtax.org as a resource, the Guys look at double taxation for seniors, tax free bonds, the burden the FAIRtax will impose on the retail industry, the adequacy of the 23% FAIRtax rate and the question of having exemptions to the FAIRtax.

With many people just now becoming aware of the FAIRtax for the first time, the FAIRtax Guys begin a two-part series on some of the basics of the FAIRtax.Using the FAQ at fairtax.org as a resource, the Guys first look at just what the FAIRtax is—a replacement for the Federal income tax. Then they get into the differences between the flat tax and the FAIRtax, the prebate, and how the FAIRtax affects the rich vs. the poor.

American manufacturers build some of the best products in the world. Unfortunately, these companies are at a decided disadvantage in the world market thanks to our arcane and ridiculous income tax system.In part 2 of their series on the FAIRtax and the economy, the FAIRtax Guys examine a white paper written in 2007 detailing how the FAIRtax will pump new life into the American economy by making American products much more competitive in the world marketplace. Again, the numbers are a bit old, but the economic principles are sound.

For decades, economists have been saying that taxing income and production is much more harmful to an economy than taxing consumption. Still, the politicians insist on keeping the income tax system even though there’s a much fairer, much more efficient, and much less harmful way to collect the revenue that the government needs to operate.This week, the FAIRtax Guys start a two part series on how the FAIRtax will benefit the economy. They start by looking at a 2006 study by Arduin, Laffer and Moore. The numbers may be a bit outdated, but the economic conclusions are still valid.

A few weeks ago, FAIRtax Power Radio documented how the FAIRtax would benefit lower income workers. In the meantime, Yahoo Finance published an article that shows the other side of the coin—how the current income tax system victimizes lower income taxpayers.Since the most persistent lie told about the FAIRtax is that it especially hurts those on the lower end of the income spectrum, the FAIRtax Guys dig into this Yahoo article that shows conclusively that it’s the income tax, not the FAIRtax, that causes this cohort of taxpayers the most grief.

FAIRtax Power Radio’s series on how the FAIRtax is good for different demographic and socio-economic groups continues with a look at how the FAIRtax will benefit young singles.Recently, FAIRtax Guy Bob Paxton spoke with a young single woman named Donna. She related several ways in which she says the FAIRtax will benefit her. This episode is largely a review of that conversation. Of course, the things Donna mentions will benefit people who aren’t young or single, but they are good reasons why young, single people should be supporting the FAIRtax.

When Kevin McCarthy promised that the FAIRtax would get an up or down vote in the 118th Congress, it sparked a surge of interest in the media on what the FAIRtax is and how it would work. Unfortunately, a lot of what was said was either misleading at best, or downright dishonest at worst.While the initial surge had died down a bit, there are still media outlets writing about the FAIRtax. This week, the FAIRtax Guys look at a FAIRtax article that was recently published in USA Today.

If there’s one lie about the FAIRtax that never seems to go away and keeps getting repeated over and over again, it’s that the FAIRtax is regressive and will harm lower income workers. That’s an easy perception to have when you hear only that the FAIRtax is a massive new sales tax that will apply to everything you buy. However, it’s just not the truth.Once again, the FAIRtax Guys dig into the numbers and show conclusively that lower income workers will be better off under the FAIRtax than under the current income/payroll tax system.

This episode of FAIRtax Power Radio begins a new series highlighting how the FAIRtax will benefit various demographic and socio-economic groups.The first group we look at is American citizens living in other countries. For this discussion, the FAIRtax Guys bring in John Richardson, an attorney living in Canada who helps American expatriates deal with the unique problems that the American tax system imposes on them. This may be a relatively small group, but the problems these people face with the tax system are immense.

When the FAIRtax Guys decided to do a series on what the media will either suppress or distort about the FAIRtax, they thought it would take two or maybe three episodes to cover it. Well, it turns out that there is so much dishonesty in the media, it ended up taking five episodes to cover it all.In this last episode of the series, the Guys explore a huge benefit of the FAIRtax that no one in the media is going to tell you about, and that’s the amazing economic growth that the FAIRtax will bring about.

There’s been a lot in the media, and especially social media, about the FAIRtax in recent weeks. You’ve undoubtedly heard that it’s a massive new tax on just about everything you buy, but there’s been one aspect of the FAIRtax that has been largely ignored—how it will all but eliminate illegal tax evasion.The FAIRtax Guys continue their “Rest of the Story” series with a look at this important aspect of the FAIRtax. In addition, they cover how the FAIRtax will affect Social Security and Medicare, and then answer the critics who claim that the FAIRtax is just politically impossible to pass.

There’s a lot about the FAIRtax in the media that’s just not true. Some may be due to unfamiliarity with the FAIRtax and how it works, but most of it seems to be deliberate misrepresentation in an effort to turn people against it.This week, the FAIRtax Guys tackle two particularly prevalent deceptions—the FAIRtax rate itself, and how much of your income you’ll actually pay in FAIRtax. People who have learned about the FAIRtax largely from the elite media will be pleasantly surprised when they hear the rest of the story.

The FAIRtax has become a hot topic in the media, be it broadcast media, print media or social media. While it’s generally a good thing that the FAIRtax is getting this attention, there’s a lot being said about the FAIRtax that isn’t the truth, the whole truth and nothing but the truth.The FAIRtax Guys’ series “The Rest of the Story” seeks to fill people in on various aspects of the FAIRtax that are being either suppressed or distorted in the media. Part two of the three part series deals with a theme that’s been brought up time and again—that the FAIRtax hurts the poor.

Speaker McCarthy’s promise to bring the FAIRtax to the House floor for debate and a vote has created quite a buzz around the FAIRtax. Someone once said that there’s no such thing as bad publicity. Even if people are saying bad things about the FAIRtax, every negative comment focuses much needed attention on the FAIRtax and gives us FAIRtax volunteers an opportunity to set the record straight.To that end, the FAIRtax Guys begin a three part series “The Rest of the Story” giving people insight and information about the FAIRtax that is likely to be either distorted or suppressed in the media. They start by digging deeper into what replacing the income tax really means for the American taxpayer.

FAIRtax history will be made in the newly convened 118th Congress. For the first time since it was first introduced over 20 years ago, the FAIRtax will not die in committee. As a concession to the holdout group who blocked his selection as Speaker of the House for fourteen ballots, Speaker Kevin McCarthy has agreed to bring the FAIRtax bill out of committee for debate and a vote on the House floor.This is a monumental event that will finally bring the FAIRtax into the national spotlight. This week, AFFT Social Media Director Randy Fischer joins the FAIRtax Guys to discuss what this means for the FAIRtax and what we can expect going forward.

It’s not news to anybody that Social Security is on the path to insolvency. Fewer and fewer workers are supporting more and more retirees. More dollars have been flowing out of the system than coming in for decades.This week, the FAIRtax Guys look at a new report from the Congressional Budget Office that says Social Security is going broke even faster than originally believed. Sooner rather than later, the politicians are going to have to fix it. Sooner rather than later, they need to pass the FAIRtax.

The FAIRtax Guys ring in 2023 with a special guest on FAIRtax Power Radio. Steve Hayes, president of Americans For Fair Taxation delivers his “State of the FAIRtax” address.This decidedly upbeat assessment of where the FAIRtax is headed in the future will surely inspire all FAIRtax volunteers to keep fighting the good fight to abolish the income tax and relegate the IRS to the scrap heap of history.

Every week, the FAIRtax Guys look at congress.gov to see what kind of changes the Congress Critters are proposing for the tax code. And every year, there are thousands of these changes—many sought by lobbyists on behalf of special interest groups.Some are blatant attempts to use the tax code to push a political agenda. Others are incomprehensible on their face, and others are filed under “What the heck is THAT doing in the tax code??” The best of the best (or is that the worst of the worst?) are inducted into the FAIRtax Power Radio Tax Proposal Hall of Shame. See which ones made this year’s Hall, bearing in mind that the FAIRtax gets rid of all of this craziness by doing away with the entire Internal Revenue Code.

CPA Jade Walle joins the FAIRtax Guys for our quarterly “Walle’s World” episode on FAIRtax Power Radio, but this one’s a little different. Instead of digging deeply into a FAIRtax related topic, Jade plays the part of a crafty politician who wants to replace the FAIRtax with an income tax.Listen as he struggles to convince a couple of very skeptical constituents about the merits of his new plan to tax incomes rather than consumption. (Spoiler alert – it doesn’t go well).

The prebate sets the FAIRtax apart from every other sales tax people may be familiar with. In every other case, when you buy a taxable item, you pay the tax, period. However, the FAIRtax actually pays itself on spending up to the poverty level.Every month, every legal household gets a pre-payment to cover the tax they’ll pay at the cash register on their spending up to the poverty level. You don’t take a dime out of your own pocket to pay the FAIRtax until after you’ve taken care of your family’s basic necessities. Compare that to the income tax where Uncle Sam skims his cut right off the top of your paycheck before you even see it.