About: Revenue neutrality of the FairTax

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The Fair Tax Act (H.R. 25/S. 1025) is a bill in the United States Congress for changing tax laws to replace the Internal Revenue Service (IRS) and all federal income taxes (including Alternative Minimum Tax), payroll taxes (including Social Security and Medicare taxes), corporate taxes, capital gains taxes, gift taxes, and estate taxes with a national retail sales tax, to be levied once at the point of purchase on all new goods and services. The proposal also calls for a monthly payment to households of citizens and legal resident aliens (based on family size) as an advance rebate of tax on purchases up to the poverty level.

Attributes	Values
rdf:type	person
rdfs:label	Revenue neutrality of the FairTax (en)
rdfs:comment	The Fair Tax Act (H.R. 25/S. 1025) is a bill in the United States Congress for changing tax laws to replace the Internal Revenue Service (IRS) and all federal income taxes (including Alternative Minimum Tax), payroll taxes (including Social Security and Medicare taxes), corporate taxes, capital gains taxes, gift taxes, and estate taxes with a national retail sales tax, to be levied once at the point of purchase on all new goods and services. The proposal also calls for a monthly payment to households of citizens and legal resident aliens (based on family size) as an advance rebate of tax on purchases up to the poverty level. (en)
dcterms:subject	Tax reform in the United States
Wikipage page ID	11688700 (xsd:integer)
Wikipage revision ID	1038780951 (xsd:integer)
Link from a Wikipage to another Wikipage	Capital gains tax American middle class Americans For Fair Taxation President's Advisory Panel for Federal Tax Reform Beacon Hill Institute Bill (proposed law) Boston University Household United States Congress United States Department of the Treasury United States Secretary of the Treasury Dynamic scoring Joint Committee on Taxation Payroll tax Predicted effects of the FairTax Tax evasion Connie Mack III Massachusetts Institute of Technology Estate tax in the United States National Income and Product Accounts Corporate tax in the United States Purchasing power Alternative Minimum Tax MIT Press Stanford University Peer review Brookings Institution Bruce Bartlett Cato Institute William G. Gale Distribution of the FairTax burden Tax reform in the United States American Economic Association Dale W. Jorgenson Economic growth Federal Insurance Contributions Act tax Federal government of the United States Bipartisan FairTax Product (business) Harvard University Heritage Foundation Laurence Kotlikoff Effect of taxes and subsidies on price Fair Tax Act Income tax in the United States Institute on Taxation and Economic Policy Internal Revenue Service Methodology Service (economics) Marginal rate Sales tax Tax base Gift tax Tax rate dbr:Arduin,_Laffer_&_Moore_Econometrics Tax reform Static analysis University Of Chicago Press Value added tax Tax Notes Tax exempt Regan Books Henry M. Paulson The Coming Generational Storm: What You Need to Know about America's Economic Future U.S. government debt dbr:Argus_Group
Link from a Wikipage to an external page	http://thomas.loc.gov/cgi-bin/query/z%3Fc110:H.R.25.IH: http://thomas.loc.gov/cgi-bin/query/z%3Fc110:S.1025: https://archive.org/details/fairtaxbook00neal https://web.archive.org/web/20160118045529/http:/thomas.loc.gov/cgi-bin/query/z%3Fc110:H.R.25.IH: https://web.archive.org/web/20160118045529/http:/thomas.loc.gov/cgi-bin/query/z%3Fc110:S.1025: http://www.fairtax.org
sameAs	Revenue neutrality of the FairTax Revenue neutrality of the FairTax Revenue neutrality of the FairTax
dbp:wikiPageUsesTemplate	dbt:Cite_book dbt:Refbegin dbt:Refend dbt:Reflist dbt:USBill dbt:Webarchive dbt:Wikiquote dbt:FairTax
date	2016-01-18 (xsd:date)
url	https://web.archive.org/web/20160118045529/http:/thomas.loc.gov/cgi-bin/query/z%3Fc110:H.R.25.IH: https://web.archive.org/web/20160118045529/http:/thomas.loc.gov/cgi-bin/query/z%3Fc110:S.1025:
has abstract	The Fair Tax Act (H.R. 25/S. 1025) is a bill in the United States Congress for changing tax laws to replace the Internal Revenue Service (IRS) and all federal income taxes (including Alternative Minimum Tax), payroll taxes (including Social Security and Medicare taxes), corporate taxes, capital gains taxes, gift taxes, and estate taxes with a national retail sales tax, to be levied once at the point of purchase on all new goods and services. The proposal also calls for a monthly payment to households of citizens and legal resident aliens (based on family size) as an advance rebate of tax on purchases up to the poverty level. A key question surrounding the FairTax rate is the ability to be revenue-neutral; that is, whether its proposed monetary numbers would result in an increase or reduction in overall federal tax revenues, and if so how large this disparity would be. Economists, advisory groups, and political advocacy groups disagree about the tax rate required for the FairTax to be truly revenue-neutral. Researchers can use a different tax base, time frame, or methodology that make direct comparison among estimates difficult. The choice between static or dynamic scoring further complicates any estimate of revenue-neutral rates. Proponents offer studies that calculate the tax rate consistent with the legislation (23% inclusive), while critics argue that the rate would need to be much higher and offer competing estimates. Supporters argue that if the rate seems too high or is otherwise higher, it brings to light the cost of the federal government and the true tax burden Congress has levied on the American taxpayer. Bruce Bartlett has stated that "public opinion polls have long shown that support for flat-rate tax reforms is extremely sensitive to the proposed rate, with support dropping off sharply at a rate higher than 23%." If the FairTax is presented like all real world U.S. sales taxes and foreign VATs (tax-exclusive), the rate would be presented as 30%. Opponents argue the 30% tax-exclusive figure is better understood by the general populace and that the use of the 23% tax-inclusive number is deceptive and misleading. Proponents state that the 23% presentation is easier to compare to the inclusive income tax rates being replaced. (en)
gold:hypernym	Bill
prov:wasDerivedFrom	wikipedia-en:Revenue_neutrality_of_the_FairTax?oldid=1038780951&ns=0
page length (characters) of wiki page	25213 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Revenue_neutrality_of_the_FairTax
is Link from a Wikipage to another Wikipage of	Predicted effects of the FairTax Distribution of the FairTax burden

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