Regressive Tax: The Fair Tax

The Fair Tax has three main goals within it: simplification, efficiency, and limitation of government (Fair Tax Article). If passed, would repeal the individual income tax, the alternative minimum tax, corporate and business income taxes, capital gains taxes, Social Security taxes, Medicare taxes, all other payroll taxes, the self-employment tax, estate taxes, and gift taxes.The Fair Tax would only tax new items at the retail level, meaning the sale of used or previously owned items would not be taxed. The entire goal of the Fair Tax is to use a new method of taxation to raise the same amount of revenue the current system raises. The Fair Tax is not a regressive tax.
The Fair Tax relates to its plan to avoid being a regressive tax by virtually eliminating the total tax burden on middle and lower income Americans. The prebate allows the Fair Tax to avoid being a regressive tax by ensuring that lower income Americans, young and old, …show more content…
The Fair Tax would take away the complexity of the current code and replace it with a simple, transparent tax that everyone could easily understand. Under the Fair Tax there would be no need to track income and expenses and a high probability that the tax would remain simple because it could not revert back to an income tax (Fair Tax Article). As an incoming worker in the business world, I would like a simple tax code that is far for everyone. I do not want favors for the wealthy or the poor individuals. I want a fair, simplified, and successful tax that would purge economic growth within our country. I also want all my hard earned money, and not have any of it go to the government through an income tax. Yes, the sales tax may be a small burden, but I would prefer no income tax, than the current tax system we have today. I support the Fair Tax, I would like to see it replace our flaw tax system we have