serious problem that is being very seriously discussed and considered in our Congress. It is a plan called the Fair Tax. Legislative Status: The FairTax has been reintroduced for the 111th Congress. It is H.R. 25 in the House and S. 296 in the Senate. Benefits of the FairTax: The FairTax plan brings fairness, transparency, and efficiency to our unfair, complex, and confusing Tax Code. The FairTax rewards job creation, hard work, and individual responsibility. By doing away with payroll taxes
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poverty. The current tax system in the U.S is ineffective ad unfair. It does not incentive the growth of economy and pushes the industries and jobs away due the high cost to accommodate in the U.S. To keep the system as it is now it will deteriorate even more this economy, that has to create more jobs instead of shipping them away and make sure that everyone is being taxed fairly. The solution for this broken tax system is the FairTax. It consists on a change to the federal government tax laws that will
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ACC 617 – Tax Policy The Fair Tax The Fair Tax is a proposal to replace our current tax system with a consumption tax. This would eliminate all taxes, including income, corporate, estate, and gift taxes. The tax would be only on new goods and services, and would be 23%. For example, a good that costs $77 would have $23 of tax, so 23% of the total of $100 is tax. This is more commonly thought of as just a 30% tax on the goods ($23/$77 = 30%). A few of the arguments against the fair tax include
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Fair Tax Act Jill Payne ACCT 615 April 26, 2014 Dr. Dana Leland “In this world nothing can be said to be certain, except death and taxes.” –Benjamin Franklin One thing is for sure you can’t escape taxes. The United States (US) income tax system is complex and often hard to navigate. Much like the English language there seems to be as many exceptions to the rules as there are rules. Our current system applies a tax rate to yearly income, and allows for deductions and exemptions to reduce
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The Case for Fair Tax Reform The current economic situation of the United States can be blamed on a multitude of variables and is the fault of numerous politicians from both parties as well as an abundance of special interest groups with lobbying power, not to mention several Presidential administrations. This paper will not examine all of these variables or individuals; it will concentrate on the isolated issue of tax reform on the highest earners and how it negatively affects the federal deficit
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centering on how high to make the income tax rate. Most Americans were not concerned since the Amendment was sold to them as something that would only affect corporations and the rich. With ever increasing fervor these corporations created lobbyists to convince Congress to exempt them from some or all of the income tax. The big breakthrough in this was taxing the worker directly with payroll taxes during World War II. This method of collecting income tax was sold to Americans as temporary, but
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The Fair Tax Act of 2013 is an alternative tax plan introduced Senator Saxby Chambliss (R-Ga) to the Senate Finance Committee on January 23, 2013. Subsequently Senate bill S. 122 and House bill H.R.25 were written. The Congressional findings of the 113th Congress in regards to the Federal income tax, which prompted the introduction of this alternative tax plan, found that the present systems of federal taxation retards economic growth thus reducing the living standards of the United States citizens
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Cindy Vasquez Professor Tonetti 2/4/15 ENG 023 State fair When people arrive to the festival, they see the blue, red, yellow and white lights, the smell of fried food and they see the big stuff animals to take home and how people form in lines just to enjoy the festival with all the attractions that one festival has. Many families wait for that day to come to enjoy quality time together. In the article Garrison Keillor explains how the fair is very similar to the mercer’s Italian Festival and there’s
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I would not be the person I am today if I did not join 4-H seven years ago. 4H has affected me in the most positive ways possible, from learning new life skills, meeting new people, creating friendships, and even solidifying my career choice of being a veterinarian. When I first joined 4-H in 2010 I was living in California and was only a part of two projects. I added on two projects the next year, and I was in five projects the year I moved here to New Jersey in 2013. I am now currently apart of
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At a young age I discovered my love for animals and a passion to giving back to my community. Eight years old and making the decision to join 4-H is the best decision a young girl could make. A close family friend was generous to give a rooster to that young girl and the love and need for farm life soon came after. Goats, chickens, rabbits, pigeons, sheep, and pigs were the animal species I have raised and shown over the last ten years. Showing animals came great responsibility as it takes dedication
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