Joe Biden Vows to Veto Bill to Abolish the IRS
President Joe Biden ridiculed the Republican Party on Monday for proposing a bill that would end the Internal Revenue Service (IRS) and income taxes.
“They’re fiscally demented, I think,” he said, referring to Republicans.
The president spoke about Republican economic proposals during a breakfast speech for Martin Luther King Jr. Day hosted by Al Sharpton’s National Action Network.
Biden raised concerns about the Republican plan that would end the IRS and income taxes in favor of what is called the “Fair Tax” which would create a National Sales Tax administered by the states.
“They want to raise taxes on the middle class by taxing thousands of everyday items from groceries, gasoline, clothing, and cutting taxes for the wealthiest, because they want to supplant the money lost from taxes on the millionaires and billionaires with a sales tax on virtually everything in the country,” he said.
The Rev. Al Sharpton gestures to the podium after introducing President Joe Biden to speak at the National Action Network’s Martin Luther King, Jr., Day breakfast, Monday, Jan. 16, 2023, in Washington. (AP Photo/Susan Walsh)
The Fair Tax Act was introduced by Rep. Buddy Carter (R-GA) who pitched it as a way to ease the tax burden on Americans. More in comments.
Once upon a time, the entirety of the federal government was funded by trade tarrifs and nothing else. The IRS is an extortion machine
That's how it should be. Domestic goods = no taxes.
How many know this. Reduce govt' raise tarrifs. Idk if the FTA is all that fair.
Could the IRS be another money laundering venue?
It is, by definition, a money laundering organization.
It is, moneys are collected to pay the interest on the National Debt. Who is receiving these these payments?
How FAIRtax Works How FAIRtax Works slider Previous Next
Your Money, Your Decision
The current federal income tax system is clearly broken — unfair, overly complex, and almost impossible for most Americans to understand. But there is a reasonable, nonpartisan alternative before Congress that is both fair and easy to understand. A system that allows you to keep your whole paycheck and only pay taxes on what you spend.
The FairTax is a national sales tax that treats every person equally and allows American businesses to thrive, while generating the same tax revenue as the current four-million-word-plus tax code. Under the FairTax, every person living in the United States pays a sales tax on purchases of new goods and services, excluding necessities due to the prebate. The FairTax rate after necessities is 23% compared to combining the 15% income tax bracket with the 7.65% of employee payroll taxes under the current system -- both of which will be eliminated!
Important to note: the FairTax is the only tax plan currently being proposed that includes the removal of the payroll tax.
Keep Your Paycheck
For the first time in recent history, American workers will get to keep every dime they earn; including what would have been paid in federal income taxes and payroll taxes. You will get an instant raise in your pay!
Social Security & Medicare Funding
Benefits will not change. The FairTax actually puts these programs on a more solid funding foundation. Instead of being funded by taxes on workers’ wages, which is a small pool, they’ll be funded by taxes on overall consumption by all residents.
Get a Tax Refund in Advance on Purchases of Basic Necessities
The FairTax provides a progressive program called a prebate. This gives every legal resident household an “advance refund” at the beginning of each month so that purchases made up to the poverty level are tax-free. The prebate prevents an unfair burden on low-income families. Learn more .
Pay Tax on Only What You Spend
Be in control of your financial destiny. You alone can control your tax burden. If you’re thrifty, you’ll pay lower taxes than somebody who is not. Most importantly, you’ll be taxed fairly.
Everyone Pays Their Fair Share
Tax evasion and the underground economy cost each taxpayer an additional $2,500 every year! But by taxing new products and services consumed, the FairTax puts everyone in the country at the same level at the cash register. Further, only legal residents are eligible for the prebate. Learn more .
The IRS is No Longer Needed
No more complicated tax forms, individual audits, or intrusive federal bureaucracy. Retailers will collect the FairTax just as they do now with state sales taxes. All money will be collected and remitted to the U.S. Treasury, and both the retailers and states will be paid a fee for their collection service. Learn More
Your Money, Your Decision
The current federal income tax system is clearly broken — unfair, overly complex, and almost impossible for most Americans to understand. But there is a reasonable, nonpartisan alternative before Congress that is both fair and easy to understand. A system that allows you to keep your whole paycheck and only pay taxes on what you spend.
The FairTax is a national sales tax that treats every person equally and allows American businesses to thrive, while generating the same tax revenue as the current four-million-word-plus tax code. Under the FairTax, every person living in the United States pays a sales tax on purchases of new goods and services, excluding necessities due to the prebate. The FairTax rate after necessities is 23% compared to combining the 15% income tax bracket with the 7.65% of employee payroll taxes under the current system -- both of which will be eliminated!
Important to note: the FairTax is the only tax plan currently being proposed that includes the removal of the payroll tax.
Keep Your Paycheck
For the first time in recent history, American workers will get to keep every dime they earn; including what would have been paid in federal income taxes and payroll taxes. You will get an instant raise in your pay!
Social Security & Medicare Funding
Benefits will not change. The FairTax actually puts these programs on a more solid funding foundation. Instead of being funded by taxes on workers’ wages, which is a small pool, they’ll be funded by taxes on overall consumption by all residents.
Get a Tax Refund in Advance on Purchases of Basic Necessities
The FairTax provides a progressive program called a prebate. This gives every legal resident household an “advance refund” at the beginning of each month so that purchases made up to the poverty level are tax-free. The prebate prevents an unfair burden on low-income families. Learn more .
Pay Tax on Only What You Spend
Be in control of your financial destiny. You alone can control your tax burden. If you’re thrifty, you’ll pay lower taxes than somebody who is not. Most importantly, you’ll be taxed fairly.
Everyone Pays Their Fair Share
Tax evasion and the underground economy cost each taxpayer an additional $2,500 every year! But by taxing new products and services consumed, the FairTax puts everyone in the country at the same level at the cash register. Further, only legal residents are eligible for the prebate. Learn more .
The IRS is No Longer Needed
No more complicated tax forms, individual audits, or intrusive federal bureaucracy. Retailers will collect the FairTax just as they do now with state sales taxes. All money will be collected and remitted to the U.S. Treasury, and both the retailers and states will be paid a fee for their collection service. Learn More
This country is run by thugs.. just like that pirate game Tropico
I like fair.
I like good.
I like honest.
X22 Dave explains almost daily about how we’re entering a time where Trump and the new Congress will present solutions that are popular with the public, and then the Deep State will downvote or veto those popular America-First solutions. This IRS bill is a perfect example of that.
“Sometimes you can't TELL the public the truth. YOU MUST SHOW THEM. It's time to wake up.” ~ Q
The biggest problem with getting rid of the IRS is that the tax laws will be quite simple and no-one can hire expensive accountants to take advantage of all the cleverly built in loop-holes for the mega rich to avoid paying taxes.
Just a reminder, tell every liberal you get the chance to that the FairTax is the best taxation form for the planet and they don’t give a damn about the planet if they aren’t for it. Sales tax being the only tax incentivizes reusing products as much as possible, repairing, 2nd hand shopping, etc., all while insuring the hyper rich pay their fair share!
But I have a feeling they suddenly won’t care about those two of their favorite talking points for some strange reason 🤔
Don't need a bill. Congress can just defund the IRS.
He has to cause how else is he gonna get the money to launder thru Ukraine?
And there's MANY other things that need to be cut even after the IRS.