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).

1. Your Annual Gross Household Income: (All funds from all sources, including gross wages, cash receipts, cash from liquidated savings and investments, cash gifts or inheritance received, retirement & social security benefits, child support & public assistance received, receipt of insurance funds, annuities, trusts, and legal settlements.)
$

2. Select One Adult or Two Adults, then select the total number of dependents in your household, including yourself. (If you are married, with two kids, you should select 4 dependents.) Your tax free spending allotment for necessities, and your monthly sales tax prebate will be automatically calculated based only on your marital status and number of dependents.   
See HHS Chart for monthly prebate details.

Monthly prebate = $0

   Single:     Married:
                  
     HHS Tax Free Spending
     Allowance is:
   $0    

3. Total annual amount paid out for loan payments, including both principal and interest. (include existing mortgage, auto, and all other loan payments.)

$
4. All annual tuition payments made for education for any age, any level.
Include annual student loan payments here.

$
5. The annual amount of all funds deposited to any savings account or retirement account 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.
$
6. The annual amount of all funds you have donated to any Church, profit or non profit charity or organization, or given to any individual through a gift, inheritance, donation, or court order, including child support.
$
7. 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.
$
8. Annual estimate of funds spent on purchases of used items (jewelry, clothes, used real estate, used cars, used furniture, antiques, etc.).
$

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 own
personal 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







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If you like your tax numbers please contact your congress members and ask
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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