The Fair Tax and Its Effect on Georgia
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چکیده
Recent federal legislation, H.R. 25 and S. 25, calls for a national retail sales tax. This tax is intended to replace the existing federal individual and corporate income taxes, the payroll tax which is used to fund the Social Security trust fund, and the estate and gift tax. One of the goals of the national sales tax is to reduce the compliance burden associated with the existing federal income tax system. The current version of the proposed national retail sales tax is called the Fair Tax Act of 2005 (henceforth referred to as the Fair Tax).
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The Fair Tax and Its Effect on Georgia
Recent federal legislation, H.R. 25 and S. 25, calls for a national retail sales tax. This tax is intended to replace the existing federal individual and corporate income taxes, the payroll tax which is used to fund the Social Security trust fund, and the estate and gift tax. One of the goals of the national sales tax is to reduce the compliance burden associated with the existing federal incom...
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