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We at OKFairTax are a group of like minded Oklahomans from all walks
of life with the sole goal of passing the FairTax Act.
What is the FairTax plan?
The FairTax plan is a comprehensive proposal that replaces all federal
income- and payroll-based taxes with an integrated approach including
a progressive national retail sales tax, a prebate to ensure no American
pays federal taxes on spending up to the poverty level, dollar-for-dollar
federal revenue neutrality, and, through companion legislation, the
repeal of the 16th Amendment.
The FairTax Act (HR.25, S.13) is nonpartisan
legislation. It abolishes all federal personal and corporate income
taxes, gift, estate, capital gains, alternative minimum, Social Security,
Medicare, and self-employment taxes and replaces them with one simple,
visible, federal retail sales tax administered primarily by existing
state sales tax authorities.
The FairTax taxes us only on what we choose
to spend on new goods or services, not on what we earn. The FairTax
is a fair, efficient, transparent, and intelligent solution to the frustration
and inequity of our current tax system.
The FairTax:
-Enables workers to keep their entire paychecks
-Enables retirees to keep their entire pensions
-Refunds in advance the tax on purchases of basic necessities
-Allows American products to compete fairly
-Brings transparency and accountability to tax policy
-Ensures Social Security and Medicare funding
-Closes all loopholes and brings fairness to taxation
-Abolishes the IRS.
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