The Fair Tax Calculator

Fair Tax PLAN - H.R.25/S.155
CALCULATOR

Determine your household Net Effective Sales Tax Rate (total costs), after the prebate and other tax free spending exemptions are considered.

EASY INSTRUCTIONS - TOTALLY ANONYMOUS!
All dollar amounts should be provided on an annual basis and can be easily approximated. Input household choices in section 2, and your annual Fair Tax prebate will be calculated. The prebate, along with other Fair Tax Act exemped spending amounts provided in sections 3-8, will be subtracted automatically from the total available cash provided by you in section 1. Your personalized annual net effective sales tax rate will then be calculated. All approximated rates are for comparisons only and will only reflect inputs provided. Alaska and Hawaii will receive slightly higher prebates due to an HHS cost of living adjustment.

1. Total ALL annual gross household funds from ALL sources, available under your control to spend, save, or gift. This is your annual pot of "spendable cash". includes Sources include GROSS WAGES, receipts from loans taken, cash from liquidated or withdrawn savings, investments, and capital gains, cash gifts or inheritance received, pension receipts from all sources, 401k, IRA, retirement payments & social security benefits under your control, child support & cash public assistance received, receipt of insurance funds, annuities, trusts, and legal settlements, and receipts from personal items sold.
2. Select ONE or TWO Adults heading your family, then select the number of additional dependent Children and Adults living within your household. Your household tax free annual spending allotment for necessities, and your monthly sales tax "prebate" will be automatically calculated from the HHS table based on these household inputs only. Income is not considered. includes Only dependent Children and Adults who's income you control and who are living as a family member (not renters) will be included in the dependent number. Adults not part of the "family household" who control their own income and are not considered by today's standards to be a dependent, will receive their own prebate check. See HHS Chart including Alaska and Hawaii, for monthly prebate details. Your Household Monthly prebate = $0	One Adult Two Adults Additional Dependent Adults and Children: Continental US Alaska Hawaii HHS Tax Free Spending Allowance is: $0
3. List the total annual amount paid out for all loan and credit payments, including both principal and interest. All EXISTING loan payments will be made tax free Any service fees on the loan will be taxable. includes Include existing mortgage, auto, education loan payments, and all other loan and credit card payments. New items purchased post Fair Tax are taxed at time of purchase. Loan payments for these items are not.
4 List all annual cash tuition payments made for education for primary school through adult technical and workforce training. Tuition ONLY is tax free. Room and Board and Child Care services will be taxable.
5. List the annual amount of all personal funds saved or invested. All savings and investment of any kind is done tax free. Service fees toward the purchase or sale of these vehicles are taxable. includes Include all funds deposited into any savings account or retirement account, 401K, IRA, Roth IRA, done through any government plan, through your employer, or privately. Also include all funds used to purchase any stocks, bonds, business, or investment vehicle of any kind.
6. List the annual amount of all funds donated to any Church, not for profit charity or organization, or given to ANY individual through a gift, inheritance, donation, or court order, including child support payments.. All estate and gift taxes are eliminated. All donations are made tax free. includes Include All funds given away by you for any reason. These are funds out of your pocket which you will no longer have to spend and pay tax on.
7. List the estimated annual amount of all taxes paid to any State, County, City, Municipal, Township, and other local governments. All Tax payments are made tax free. includes Include State income and sales taxes, property taxes, school district taxes, deed transfer taxes, wage, and occupational taxes. Include both State and Local taxes paid throughout the year, through payroll deductions and estimate those paid on your own.
8. List an annual estimate of funds spent on purchases of any USED items (jewelry, clothes, used real estate, used cars, used furniture, antiques, etc.). Used items purchased under Fair Tax are not taxed.

Update Calculations

Results

A. TOTAL MAXIMUM TAXABLE CONSUMPTION AVAILABLE ANNUALLY ( items #1 Total Cash minus #2-#8 non taxed spending listed above)	$0
B. FAIR TAX DOLLARS PAID ON MAXIMUM TAXABLE CONSUMPTION (23% OF A )	$0
C. YOUR ANNUAL HHS PREBATE BASED TAX FREE SPENDING ALLOWANCE FOR YOUR HOUSEHOLD (tax free spending allowance based only on size of household) Continental US Alaska Hawaii	$0
D. YOUR MONTHLY PREBATE AMOUNT FOR YOUR HOUSEHOLD (monthly prebate check received to cover your tax free prebate spending)	$0
E. YOUR ACTUAL NET EFFECT TAX RATE UNDER FAIR SALES TAX Percentage of taxes paid (Sec. A) based on total spending Input #1 above - (Sec. A / Input #1)	0%
REMEMBER: EVERY DOLLAR YOU SPEND TODAY IS ALREADY PRE-TAXED UNDER THE CURRENT INCOME TAX SYSTEM FROM A LOAF OF BREAD TO HEALTH CARE. FAIR TAX SIMPLY MAKES IT ALL 100% VISIBLE.

* IMPORTANT FICA SOCIAL SECURITY KEYNOTE - The Fair Tax Act eliminates FICA Social Security taxes (7.65%) and funds Social Security and Medicare as part of the 23% inclusive sales tax revenues. When comparing your net sale tax rates above to your current income tax rates, or any estimated Flat Tax rates, remember to add your 7.65% FICA payroll taxes to your Income Tax expenses before comparing your tax rates..
The proposed Flat Tax of 17% will not affect your current FICA payroll deductions, so the current Flat Tax proposal would really be a 17% + 7.65% FICA = 24.65% initial rate before deductions, clearly higher than Fair Tax's 23%. Be sure to check your paycheck stubs to see exactly what dollar amount you are paying for FICA social security and medicare through payroll tax deductions. Remember, your employer is also paying 7.65% into FICA on your behalf, money that he/she cannot give you in the form of higher wages. The Fair Tax Act, HR 25/S 155 eliminates both of these taxes.

Remember your tax rate and numbers can change up or down depending on your own personal spending / savings / investment/ gifting choices.
The key is YOU decide, not the government.

Fair Tax, Flat Tax, Income Tax
An Economic Comparison of Of Tax Plans

GET INVOLVED LOCALLY

Fair Tax Quick Connect

Give a one time gift through Paypal to help fund The Fair Tax Act Calculator, click the button and your gift will be directed to marlene@fairtaxcalculator.org.

Thank you for your generosity.

To Sign Our Online Fair Tax Act Support Petition click here.

If you like your tax numbers please contact your congress members and ask
them to support the Fair Tax Act, the simple & progressive national retails sales tax
plan for America!

Ask your legislators to push for TAX REFORM FIRST! Remember, the Fair Tax Act IS
the ultimate Social Security Reform, allowing you to save and invest all you want
totally tax free, and without any government interference.

Calculator prepared by members of PA State Fair Tax Act Supporters of HR 25/S155 - www.pafairtax.org
Site developed and hosted by