Also, to promote charitable giving, the President has allowed for a clause which will allow the taxpayer to deduct his or her charitable donations from their taxes. This budget plan also includes ideas that will allow the common American to pay down his debts thus lowering the consumer debt. When taxes are cut the common man can pay back what debts they may have...
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When taxes are cut the common man can pay back what debts they may have. This is very important because consumer debt is now over $1.5 trillion and credit card debt alone will be over 600 billion dollars. That equates to, on average, about $2,000 dollars per American. Another positive change the President looks to in act is the lowering of the death tax...
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The Benefits of the Proposed FairTax System Although the current income tax system claims similarity in that it is based upon a taxpayer's ability to pay, it is not necessarily true as income is taxed and income does not necessarily translate into one's ability to pay...	3 / 568
Opposition to the Fair Tax This has great appeal to many Americans for numerous reasons, such as having more control of their taxes paid, avoiding the tedious, laborious, and often expensive tax filing process, and that all Americans will pay the same tax rate...	7 / 1737
Flat Tax And Fair Tax Under the current system, the EITC is used to help ease the burden on low-income families, but the process of figuring out the different factors that affect your refund is very complicated and time-consuming...	8 / 2231
Fair Tax Businesses cannot simply soak up raised costs or pass the burden to the consumer without overpricing their goods; if that company's products are taxed at a rate far higher then that of other companies, they won't be able to compete...	2 / 318