Buddy Carter Unveils Plan to Abolish IRS and Revamp Tax System
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A United States Representative Earl Carter has introduced the Fair Tax Act (H.R. 25), a bill that aims to eliminate the Internal Revenue Service (IRS) and replace the existing U.S. tax system. The proposed legislation aims to abolish corporate income taxes, gift taxes, death taxes, and payroll taxes, replacing them with a national consumption tax system. On January 9, Representative Earl Carter introduced a bold new proposal to eliminate the Internal Revenue Service (IRS) and overhaul the U.S. tax system. Known as H.R. 25, or the Fair Tax Act, the legislation seeks to replace the current federal tax code with a simpler, more streamlined national consumption tax. Under the Fair Tax Act, all personal and corporate income taxes, payroll taxes, death taxes, and gift taxes would be abolished. This would simplify tax compliance for individuals and businesses while eliminating the need for the IRS. “The Fair Tax is truly fair. It’s the only tax proposal that promotes economic growth, simplifies the system, and allows Americans to keep every penny they earn all while making the IRS obsolete. I’m proud to lead this Georgia-originated legislation that puts the power over tax rates back into the hands of the American people, not bureaucrats.” Rep. Carter stated. Several Republican representatives have co-sponsored the Fair Tax Act, including Andrew Clyde, John Carter, Scott Perry, Eric Burlison, Barry Loudermilk, and others. Rep. Barry Loudermilk argues that the current tax system is too complex and burdens hard-working Americans and that the Fair Tax Act would foster growth and innovation by removing the need for accountants and IRS agents. The proposal, which was first introduced in 1999 by former Congressman John Linder, has gained significant traction in recent years. One of the bill’s most contentious aspects is its requirement for unauthorized immigrants to pay the consumption tax…
Filed under: News - @ January 13, 2025 10:26 pm