Fair Tax Pros And Cons 2025
Fair Tax Pros And Cons 2025. It would provide a monthly rebate for an annual consumption allowance. The fair tax act of 2023 (hr 25) would replace the federal individual income tax, corporate income tax, payroll taxes, and the estate and gift tax with a national retail sales tax.
Potential for increased economic growth by increasing consumer spending. The 23% sales tax would apply to all retail and service transactions.