I sincerely believe the banking institutions having the issuing power of money, are more dangerous to liberty than standing armies.” ~ Thomas Jefferson
The FairTax Plan is a nonpartisan national grassroots campaign to replace the federal income tax system with a progressive national retail sales tax. It provides a “prebate” to ensure no American pays federal taxes on spending up to the poverty level, dollar-for-dollar federal revenue replacement and, through companion legislation, repeal of the 16th Amendment.
There is a “catch,” however, and that is why so many people were inspired to travel to Columbia from all over the country for a Tuesday evening FairTax rally. The “catch” is that enactment of the FairTax eliminates Congress’s ability to grant favors in the income tax system. Taking power away from Congress is, of course, a huge political challenge requiring overwhelming grassroots pressure and an abiding belief that public policy can be made to simply favor the public, despite the self-interest of Congress.