Honzo August 22nd, 2005

Seniors & the FairTax (PDF)

Take a look at how the Fair Tax would benefit seniors:

• The FairTax ensures Social Security’s soundness by funding it with
  a progressive, broad-based national retail sales tax, rather than the
  current regressive, narrow payroll tax.
• The FairTax rebate zeros the retail taxation of necessities for seniors.
• The FairTax repeals the taxation of Social Security benefits and adjusts Social Security indexing to protect seniors.
• The
  FairTax ends all record keeping and income tax filings of any kind for
  seniors, totally insulating them from the high costs and abusive
  tactics of tax preparers.
• The FairTax does not tax used goods, giving poor seniors choices.
• The FairTax reduces manufacturers’, services’, and retailers’ costs, allowing them to lower costs to seniors.
• The FairTax delivers a tax holiday on IRAs and other tax-deferred plans.
• The
  FairTax ends gift and estate taxes, along with all of the unfairness to
  heirs and complex planning for those who earned the money.
• The FairTax allows seniors to sell their homes and pay no capital gains taxes.
• The FairTax generates an economic boom, which eases future budget
  pressure on seniors’ entitlements.
• The FairTax ensures your grandchildren have the same opportunity you did.

Read the paper for the stats and research.

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