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

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

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. (All funds from all sources includes GROSS WAGES, cash receipts, cash from liquidated savings, investments, and capital gains, cash gifts or inheritance received, pension, retirement & social security benefits under your control, child support & public assistance received, receipt of insurance funds, annuities, trusts, and legal settlements.)

2. Select ONE or TWO Adults within the family, then select the number of additional dependent Adults and Children living within your household. Only dependent Children and Adults who's income you control and who are living as a family member (not renters) will be included in this number. 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. 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.

Monthly prebate = $0

HHS Tax Free Spending Allowance is: $0

3. List total annual amount paid out for loan payments, including both principal and interest. (include existing mortgage, auto, education loan payments and all other loan and credit card payments.) All EXISTING loan payments will be made tax free (Any service fees on the loan will be taxable).

4. List all annual cash tuition payments made for education for primary school through adult. Tuition ONLY is tax free. Room and Board and Child Care services are not tax free.
5. List the annual amount of all personal funds deposited to any savings account or retirement account, 401K, IRA, Roth IRA, done through a government plan, through your employer, or privately, and all funds used to purchase any stocks, bonds, business, or investment vehicle of any kind. All savings and investment is done tax free. Service fees toward the purchase or sale of these vehicles are not tax free.
6. List the annual amount of all funds you have donated to any Church, non profit charity or organization, or given to any individual through a gift, inheritance, donation, or court order, including child support. All donations are made tax free. All estate and gift taxes are eliminated.
7. List the estimated annual amount of all taxes paid to any State, County, City, Municipal, Township, and other local governments. Include state income and sales taxes, property taxes, school district taxes, deed transfer taxes, occupational taxes. Include both State and Local taxes paid throughout the year, through payroll deductions and estamate those paid on your own, such as sales taxes. All Tax payments are made tax free.
8. List the annual estimate of funds spent on purchases of used items (jewelry, clothes, used real estate, used cars, used furniture, antiques, etc.).

Update Calculations


The annual tax-free spending allowance for your household is:


Your household will receive a monthly tax prebate check in the amount of:


Your taxable income left to spend after deducting your tax free spending listed above in lines 2 to 8:


Your maximum annual Fair Tax dollar costs (including social security contributions) based on estimated income & spending above:


Your estimated annual net effective Fair Tax rate on the income & spending listed above:


IMPORTANT FICA 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 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

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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.

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