Illinois FairTax

What is the FairTax?

The FairTax is a nonpartisan proposal that replaces all federal income and payroll taxes with a progressive tax on consumption (national retail sales tax). It includes a cash "prebate" that ensures no American pays federal taxes on their spending for essential goods and services up to the poverty level.

- Every American can keep their entire paycheck.

- All Federal income taxes - GONE!

- IRS and 16th Amendment - GONE!

- Completely untaxes low-income families.

- Untaxes tuition.

- Existing and future savings and investments are all tax free as the return on that savings.

- Positive impact on retirees.

- No federal taxes or compliance costs hidden in consumer prices.

- Raises the same amount of revenue as the current system with much lower marginal rates.

- Promotes economic growth and substantial wage increases for working Americans.

- Stops the export of American Jobs.

less