Georgia Republican Buddy Carter has introduced the Fair Tax Act, a radical proposal that seeks to replace the confusing federal tax code with a transparent national sales tax. The bill, which would abolish the Internal Revenue Service and eliminate the income tax, is a declaration of the individual's right to their income and freedom of choice.
The Fair Tax Act, or HR 25, seeks to eliminate the personal and corporate income tax, payroll tax, property tax, and gift tax. Instead, it proposes a 23% consumption tax on new goods and services. The bill would free Americans from the burden of federal withholding by allowing them to keep their entire paycheck. It’s a recognition that a person’s income is theirs by right, rather than a privilege granted by the government.
Its supporters, including fellow Georgia Republican Barry Loudermilk, swear by the system’s fairness and simplicity. It expands the tax base by taking revenue from previously untaxed sources like the underground economy, illegal immigrants, and tourists, while providing a monthly rebate to households for essentials. The measure, bureaucrats argue, ensures that the country’s poorest residents are protected from unnecessary burdens while encouraging savings and investment.
Bitcoin and Free Market Supporters Enthusiastically Spread Carter's Bill on Social Media Reddit, welcoming the prospect of closing the tax office. However, some are puzzled by the large consumption tax, believing that it will hit the poorest sections of the population.
However, the Fair Tax Act is not just a policy change; it is a call to restore individual dignity and market integrity. As Carter and his co-authors argue, it is not so much tax reform as a philosophy of commitment to the values of freedom, productivity, and fairness.
The Fair Tax is the only tax proposal that promotes growth and allows Americans to keep every penny of their hard-earned money, Carter said.
It is clear that the bill has little chance of being adopted in Congress, but the very emergence of this initiative is quite interesting.
