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[[Image:FairTaxRally.jpg|thumb|350px|A pro FairTax rally in Florida]]

[[Image:FairTaxRally.jpg|thumb|350px|A pro FairTax rally in Florida]]

'''The Fair Tax''' (FairTax) is a tax proposal that replaces all federal income taxes, including; corporate [[income taxe]]s, gifts, estate, capital gains, alternative minimum, [[Social Security]], Medicare, and self employment taxes, with a federal retail [[sales tax]]. <ref> Americans For Fair Taxation, “About the FairTax,” http://www.fairtax.org/site/PageServer?pagename=about_main</ref> Instead of being taxed on what citizens earn, the FairTax, instead taxes on what citizens buy, this is known as a voluntary consumption tax. The estimated rate for the FairTax is 23 percent<ref> "Embedded Taxes Change Fair Tax Analysis",http://www.roanoke.com/editorials/commentary/wb/wb/xp-51569</ref>. One main proponent of the FairTax is [[Republican]] presidential primary contender and former [[Arkansas]] Governor, [[Mike Huckabee]]. The basic FairTax system includes the following<ref> American For Fair Taxation, http://www.fairtax.org/site/PageServer?pagename=about_main</ref>;

'''The Fair Tax''' (FairTax) is a tax proposal that replaces all federal income taxes, including; corporate [[income taxe]]s, gifts, estate, capital gains, alternative minimum, [[Social Security]], [[Medicare]], and self employment taxes, with a federal retail [[sales tax]]. <ref> Americans For Fair Taxation, “About the FairTax,” http://www.fairtax.org/site/PageServer?pagename=about_main</ref> Instead of being taxed on what citizens earn, the FairTax taxes on what citizens buy, this is known as a voluntary consumption tax. The estimated rate for the FairTax is 23 percent<ref> "Embedded Taxes Change Fair Tax Analysis",http://www.roanoke.com/editorials/commentary/wb/wb/xp-51569</ref>. One main proponent of the FairTax is [[Republican]] presidential primary contender and former [[Arkansas]] Governor, [[Mike Huckabee]].  

 

The basic FairTax system includes the following<ref> American For Fair Taxation, http://www.fairtax.org/site/PageServer?pagename=about_main</ref>;

*Abolishment of the [[Internal Revenue Service]] (IRS).

*Abolishment of the [[Internal Revenue Service]] (IRS).