Income Taxes

The FairTax is a consumption-based tax designed to be revenue neutral to the federal government. I have researched this system thoroughly and believe it offers the most effective method for accomplishing the following goals:

Economic Growth

This taxing method will result in much greater economic growth than the current income tax system. It allows investments to be made and capital allocated based on the best possible return, not on the tax implications. Additionally, this taxing method will allow U.S. companies with overseas operations to bring home their foreign subsidiary earnings without tax penalties. These earnings could then be invested here, creating more jobs.

Reduces Government Meddling

This plan gets the government out of our personal decisions on retirement accounts, investments, capital expenditures, mortgages and income options. No more records to keep. No more IRS investigations into your personal life, and no more dreading April 15th.

Increases Compliance

A consumption-based tax is more easily and efficiently collected than an income tax. Additionally, since it is collected when new products are purchased, it is almost impossible to avoid.

Encourages Exports/Results in More Fair Trade

This tax helps level the playing field on a product that comes into the United States but is not taxed in its country of origin, by reducing the embedded costs of goods produced here in America. Foreign companies would also be encouraged to locate their plants in the United States and export from here to the rest of the world, since their products would no longer face tax penalties before they are even sold.

The FairTax has already been proposed in Congress but needs to be brought to the floor for a vote. If elected, I will fight to obtain the necessary co-sponsors for this legislation, and pass it as soon as possible.