
THE FAIRTAX PLAN - HR 25 / S 25 HOUSEHOLD TAX RATE CALCULATOR
Determine your household's estimated national sales tax costs, after all your tax free spending exemptions (deductions) are considered.
All dollar amounts should be estimated on an annual basis. Your annual FairTax prebate will be calculated for you. All FairTax deductions, sections 2-8, will be subtracted for you automatically from your gross income (Line 1).
Results
The annual tax-free spending allowance for your household is: |
$0 |
Your household will receive a monthly tax prebate check in the amount of: |
$0 |
Your taxable income left to spend after deducting your tax free spending listed above in lines 2 to 8: |
0 |
Your maximum annual FairTax dollar costs (including social security contributions) based on estimated income & spending above: |
0 |
Your estimated annual net effective FairTax rate on the income & spending listed above: |
0 |
* IMPORTANT FICA KEYNOTE - The FairTax 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 FairTax 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 e 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 FairTax'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 FairTax eliminates both of these taxes.
Remember your tax numbers can change up or down depending on your ownpersonal spending / savings / investment/ gifting choices.
The key is YOU decide, not the government.
FairTax, Flat Tax, Income Tax
An Economic Comparison of Of Tax Plans
them to support the FairTax , the simple & progressive national retails sales tax
plan for America!
Ask your legislators to push for TAX REFORM FIRST! Remember, the FairTax 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 the PA Chapter of AFFT - www.pafairtax.org
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