Chairman's Report

DC wants us to be like the proverbial three monkeys--See no evil, Hear no evil, Speak no evil. In other words, just be quiet and don't question us. We know what we're doing and we have your best interests at heart. In the meantime, an old enemy is on his way back into our lives. Inflation is threatening to come roaring back and ruin our economic stability. There's a really good way to defeat infla...

The good news: A noted economist is calling for replacing the income tax with a consumption tax. The bad news: He's recommending a VAT, not the FAIRtax. Even though he's not advocating for the FAIRtax at this point, it's still a step forward that someone of his stature and professional reputation sees the need to replace the income tax. Check it all out in this week's Chairman's Report.

For decades, the Washington politicians have been misleading the American people on how much their spending proposals cost and how they can be paid for. They get away with this because the people generally have no idea how much the government actually costs them. In this week's Chairman's Report, Steve Hayes details just how dishonest some of these politicians have been in covering up the true cos...

When it comes to investing, it's not how much you make that counts. It's how much you get to keep after taxes. Currently, capital gains taxes are relatively low at 20%, but that might not last long. If President Biden gets his way, capital gains taxes will nearly double. This will have a crushing effect on the economy. The FAIRtax doesn't tax capital gains at all until they are spent on the retail...

In testimony before the Senate Finance Committee, IRS Commissioner Charles Retting finally testified that tax evasion is costing the government at least a trillion dollars a year. The Biden administration is responding with more aggressive enforcement, but is that the answer? Not really. The best way to solve this problem is to implement a system that doesn't lend itself to massive evasion. The so...

Do you ever wonder why a great idea like the FAIRtax runs into so much resistance in Congress? The short answer is money. This week Steve Hayes uncovers some eye-popping reasons why Members of Congress are so beholden to the powers in Washington that profit from the income tax.

The Biden administration is proposing massive tax hikes on corporations to finance a long list of spending initiatives. At the same time, he's promising that his tax proposals won't affect any single taxpayers making under $200,000 a year, or any married taxpayers making $400,000 or less. The problem is that that's just not possible. AFFT President Steve Hayes breaks it all down and again demonstr...

Once again, the "smart people" in DC have created another mess while supposedly trying to solve a problem. This time, it's our kids who suffer for it. Check it all out in this week's Chairman's Report, and see once again how the FAIRtax is the answer to making it right

Up to now, America's wealthiest taxpayers have been able to structure their affairs to greatly minimize their tax liability. However, with a new administration in Washington promising to target the 1% for higher taxes, many of them may soon decide that getting rid of the income tax is actually in their best interests. In this week's Chairman's Report, Steve Hayes explains how and why that could ha...

There's a dirty little secret in Washington. Both parties want to redistribute wealth and want to use the income tax to do it. In this Chairman's Report, Steve Hayes looks at the unintended consequences of the Biden tax proposals. It's not pretty. There's a much better way--the FAIRtax.

CPAC is a great opportunity to get the FAIRtax message in front of both political and media people. When COVID restrictions forced the conference to move from the DC area to Orlando, it gave the Florida-based FAIRtax Guys a huge chance to promote the FAIRtax right in their own back yard. This is their report of the contacts they made and the results they achieved on behalf of the FAIRtax.

Cryptocurrency was designed to make it difficult for governments to keep track of who owns it. It's impossible for an outside party to determine who was involved in a cryptocurrency transaction. Obviously, governments are fearful that the rising use of cryptocurrency could lead to a decrease in tax revenue. In this week's Chairman's Report, Steve Hayes presents an elegantly simple solution to this...

The Biden administration has indicated that it wants the IRS to be more aggressive in its pursuit of tax evaders. While catching evaders who are shifting the tax burden onto honest taxpayers can be a good thing, there are plenty of perils awaiting both honest and dishonest taxpayers. Chief among them is the threat of referring cases for criminal prosecution. Honest taxpayers dealing with an unscru...

The COVID pandemic has put millions of our friends and neighbors behind the financial 8-ball. Unfortunately, instead of helping out, the income tax system is adding to the difficulties that many of these people are facing. Steve Hayes explains the outrageous situation, and shows how it would be much better under the FAIRtax.

This week, Steve Hayes pretty much turns the Chairman's Report over to economist Dr. Karen Walby to explain how the FAIRtax rate will be calculated in the years following its initial implementation.

Many people are clamoring for a $15 per hour minimum wage and believe that the best, or maybe only way to get there is by government mandate. However, doing it that way comes with some pretty nasty consequences. However, there is a way to boost wages without harming the businesses that pay those wages. In this week's Chairman's Report, Steve Hayes explains how passing the FAIRtax is really the bes...

If it costs you your peace, it's too expensive. The Federal income tax costs us a lot more than just our peace. Of course, it costs us a significant chunk of our income, but it also costs us our privacy, and in extreme cases, even our freedom. There's no reason for it to even exist except that it provides The Swamp in DC with a way to enrich themselves and to control us in the process. This week,...

This week's Chairman's Report looks at some of the Biden administration's tax proposals and looks at how they may drive people to move their money to a place like Puerto Rico where its citizens enjoy some favorable tax treatment. Of course, as always, Chairman Steve Hayes explains why the FAIRtax is the best tax proposal of all.

There's no doubt that the economic impact of the COVID pandemic has been huge. Governments around the world have spent trillions of dollars fighting it. This week, Steve Hayes looks at how the FAIRtax could bind all citizens together to fight our common COVID enemy and increase the probability of success.

When Rob Woodall retired from Congress, that left us needing a new lead sponsor for the FAIRtax. On Congressman Woodall's recommendation, we approached Congressman Buddy Carter of Georgia, and he gladly stepped into the role. In this Chairman's Report, we meet HR-25's new lead sponsor, Buddy Carter.

Tax evasion. American jobs being shipped overseas. Massive compliance costs imposed on American businesses. Highly regressive payroll taxes that hit hardest on those who can least afford to pay them. These are just a few of the huge problems associated with the income/payroll tax system. Well, there's a vaccine for all that and more. It's the FAIRtax. The FAIRtax gets rid of all these problems by...

In this week's Chairman's Report, Steve Hayes looks at the power of choice as it relates to taxation. With a consumption tax like the FAIRtax, people have the power to choose how much tax they pay. With the income tax, not so much. So, if you'd like to see the power of choice restored to taxation, join us in demanding the FAIRtax.

California's overall taxation level is among the most oppressive in the country and its citizens are responding. Many are leaving the state while others are turning to the constitutional amendment process for relief. This week, Steve Hayes looks at two measures regarding property taxes and the state's exorbitant gasoline tax. Of course, the real answer to their taxation problems is the FAIRtax.

Most people understand that every dollar they pay in taxes is a dollar they can't use to make purchases or pay bills. However, most people have absolutely no clue how much they really pay in taxes. That's because the government keeps the true cost of the income tax system hidden from us. This week, Steve Hayes blows the cover on some of the government's dirty little secrets and explains how the FA...

Texas is one of just a few states that does not have a personal income tax. However, that doesn't mean it can't benefit from having it's own FAIRtax. In an article published in Today's CPA magazine, CPA Jade Walle proposes that Texas replace its cumbersome and inefficient property tax system with a state level FAIRtax. The benefits are many, including a state wide improvement in the quality of pub...