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. 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Sources include GROSS WAGES, receipts from loans taken, cash from liquidated or withdrawn savings, investments, and capital gains, cash gifts or inheritance received, pension receipts from all sources, 401k, IRA, retirement payments & social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

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


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


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


Your taxable cash #1 left to spend after deducting your tax free spending lines 2 to 8 listed above


Your maximum annual dollars spent on the Fair Tax sales tax based on estimated spendable cash #1 & deductable spending #2 - #8 above.


WHAT IS YOUR ACTUAL FAIR SALES TAX RATE? Your estimated annual net effective Fair Tax Percentage RATE on the spendable cash #1 & deductable spending #2-#8 listed above and including your Prebate. No Social Security Costs under Fair Tax are needed.


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


Fair Tax Quick Connect

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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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