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| | * Abolish the [[Internal Revenue Service]] (IRS). | | * Abolish the [[Internal Revenue Service]] (IRS). |
| | * Abolish personal [[income tax]]es. | | * Abolish personal [[income tax]]es. |
| − | * Repeal the [[16th Amendment]]. | + | * Calls for the repeal the [[16th Amendment]]. |
| | * Provide each worker a monthly prebate, equal to the tax on "poverty level" income. <ref> Just how fair is the ‘Fair Tax’ CNN Money, September 2005, http://money.cnn.com/2005/09/06/pf/taxes/consumptiontax_0510/</ref> | | * Provide each worker a monthly prebate, equal to the tax on "poverty level" income. <ref> Just how fair is the ‘Fair Tax’ CNN Money, September 2005, http://money.cnn.com/2005/09/06/pf/taxes/consumptiontax_0510/</ref> |
| | * Close many loopholes under the current system. | | * Close many loopholes under the current system. |
| | * Enable retirees to receive their full pension, untaxed, until they spend it. | | * Enable retirees to receive their full pension, untaxed, until they spend it. |
| | * Enable workers to keep their entire paycheck, untaxed, until they spend it.<br /> | | * Enable workers to keep their entire paycheck, untaxed, until they spend it.<br /> |
| − | * Proponents believe the removal of the above will save 265 billion dollars a year in compliance costs under the current tax system.<ref>http://www.fairtax.org/site/PageServer?pagename=about_fairtax_four#neutral</ref> and be more practical than the current system, which includes over 60,000 pages of tax code.<ref> 67,204-Page Code Confounds Taxpayers, Yet Congress Sits By, USA Today, http://www.usatoday.com/news/opinion/2007-04-03-edit_N.htm?csp=34 </ref> | + | * Proponents believe the removal of the above will save 265 billion dollars a year in compliance costs under the current tax system.<ref>http://www.fairtax.org/site/PageServer?pagename=about_fairtax_four#neutral</ref> and be more practical than the current system, which includes over 60,000 pages of tax code.<ref> 67,204-Page Code Confounds Taxpayers, Yet Congress Sits By, USA Today, http://www.usatoday.com/news/opinion/2007-04-03-edit_N.htm?csp=34 </ref> |
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| | ==History== | | ==History== |