Chairman's Report

The income tax is ridiculously easy to evade, and the IRS doesn't have the resources to do much about it. A former IRS commissioner admits that the agency loses nearly a trillion dollars a year to illegal evasion. Instead of spending billions of dollars ramping up enforcement efforts, there's a better way to deal with the evasion problem--implement a tax system that by its very nature is extremely...

Saving and investing are two of the cornerstones of a healthy, growing economy. So, it makes sense that a tax system should encourage, not penalize, those activities. Unfortunately, the current income tax system does indeed penalize people for putting their money to the best use. The FAIRtax would encourage saving and investing. Find out how in this week's Chairman's Report.

A common criticism of sales taxes is that they are regressive. When low income and high income households pay the same rate, it's the low income household that gets hit the hardest. Dishonest critics often level the same criticism at the FAIRtax. They claim the FAIRtax is a bad idea because it's regressive. In this week's Chairman's Report, AFFT president Steve Hayes explains why this criticism of...

When it's explained to them, most people understand the concept of embedded taxes. Just like labor and materials, taxes are a cost of doing business that gets passed on to the consumer. But that's not the only hidden cost that the income tax system imposes on consumers. This week, AFFT president Steve Hayes explains a wickedly insidious way in which the income tax system makes everything we buy mo...

The cost of higher education today is staggering. Many families struggle to send just one child to college. Those with more than one child can find the costs overwhelming. This week, AFFT president Steve Hayes shows how the FAIRtax can work on multiple fronts to bring down the cost of higher education.

The FAIRtax was first introduced over 25 years ago. In every Congress since then, the FAIRtax has died in committee without even a hearing. Naysayers claim that the FAIRtax is not politically viable and will never pass. But, as guest writer Jade Walle points out, Americans have a history of achieving the impossible, and there's no reason we can't add the FAIRtax to the list of impossible things th...

Guest writer Jade Walle turns the clock back to the 15th century for a stunning example of how a simple decision on tax policy can have repercussions that last for generations.

Social Security is rapidly running out of money. If something doesn't change, today's Social Security recipients will face a benefit cut in the neighborhood of 20% within just a few short years. The solution isn't higher taxes, lower benefits, a higher retirement age or more borrowed money. The solution is to change how Social Security is funded. The solution is the pass the FAIRtax.

Labor Day was established in 1894 to honor the value, dignity and sacrifice of American working people. Today, the American tax system takes money from those workers before they can spend a dime supporting themselves and their families. It's time to reverse those priorities and put working families ahead of the government. It's time to pass the FAIRtax.

When it comes to your taxes, the important number isn't the one attached to your tax bracket. What really counts is your effective tax rate--how much of your total income was eaten up by federal taxes. In this week's Chairman's Report, Steve Hayes compares effective tax rates under the income tax system vs. the FAIRtax.

This week's Chairman's Report is guest written by Bill Rollyson. Bill makes the case that the FAIRtax can play a role in incentivizing the American agricultural industry to reduce its dependance on illegal labor by moving towards more automation and mechanization.

This week's Chairman's Report is guest written by Travis Karnes. Travis is a Constitutional expert who makes a strong case for the FAIRtax on Constitutional grounds.

Wealthy Americans have a variety of ways to legally reduce their income tax liability. One of the most successful is to borrow against capital assets since a loan is not considered income and is not taxed. The FAIRtax would close that loophole and render the "Buy, Borrow, Die" strategy ineffective.

States all around the country are waking up to the fact that an income tax is bad for their economy. Several have already moved to eliminate their state income tax. But there's a trap awaiting those who simply replace income tax revenue with a higher sales tax. AFFT president Steve Hayes lays it all out in this week's Chairman's Report.

Pollster Frank Luntz has uncovered a troubling picture of America. People think the economic system is unfair. They're falling behind financially, and many are calling for more socialism and less capitalism. There's an answer to these problems that's been hiding in plain sight since 1999. It's the FAIRtax.

This week's Chairman's Report is a reprint of an article written by Professor John Cochrane looking back at Adam Smith's work, "Wealth of Nations".

Amazon founder Jeff Bezos is proposing that the bottom half of American taxpayers pay zero income tax. Sounds interesting, but its effect would be minimal. The real problem for low income earners are the federal payroll taxes that eat up 7.65% of every dollar a worker earns. Bezos' plan leaves those taxes in place. The real answer is to eliminate both income and payroll taxes for all taxpayers. Th...

This week, guest author Jade Walle looks at the psychology of taxes regarding illegal evasion and shows how the FAIRtax can all but eliminate it by cutting off one of the three legs of the fraud triangle.

In this week's Chairman's Report, guest author Jade Walle makes the case that income and property taxes are the worst taxes we endure. Consumption taxes like the FAIRtax are much better because they don't directly confiscate the fruits of our labor.

Inflation is sometimes described as a "too many dollars chasing too few goods". While that's an oversimplification of a complex situation, it's basically a sound description. This week, Steve Hayes examines how the FAIRtax could help reduce inflation by making it easier for the economy to produce more goods.

In a nutshell, ethics is the study of right and wrong. There are ethical principles that should guide human behavior to be right, fair, honest and responsible. In this week's Chairman's Report, Steve Hayes applies ethical principles to taxation and finds that the FAIRtax is vastly superior ethically to the income tax.

This week, guest writer Jade Walle follows up on last week's Chairman's Report about how the income tax system is a major contributor to class warfare in America. This week, Jade explains how the FAIRtax will bring about a dramatic reduction in tax-based class warfare.

This week's Chairman's Report is guest written by CPA and AFFT board member Jade Walle. He explains how the corporate income tax is a quite modest contributor to the federal budget, but is an enormous contributor to class warfare in America.

By definition, the FAIRtax is a federal excise tax. In this week's Chairman's Report, AFFT president Steve Hayes recalls both the historical and current uses of excise taxes as a revenue source.

Some people may be surprised to learn that the FAIRtax will apply to purchases made by government entities. While that may seem strange to some, there's actually a good reason for it. AFFT president Steve Hayes explains in this week's Chairman's Report.