Fairtax Power Radio

President Trump’s Big Beautiful Bill has been signed into law a lot faster than a lot of people expected.This week, the FAIRtax Guys welcome AFFT president Steve Hayes to the program to go over what’s in the new law relative to taxation, and look at how the FAIRtax moves forward from here.

FAIRtax advocates continue to be active across several social media platforms.  As you might imagine, the idea of replacing the income tax with the FAIRtax continues to generate a wide range of responses.  Many people think it’s a great idea while others are not so sure.This week, the FAIRtax Guys look back at some FAIRtax postings on social media and the responses they generated.

The recent poll about people’s opinion on replacing the income tax with a national retail sales tax has a rather surprising result.  Only 49% were at least somewhat confident that a national sales tax would help reduce illegal tax evasion while 36% didn’t think it would help much if at all.  That’s rather amazing given the fundamental differences in how a sales tax is collected vs. the income tax.To that end, the FAIRtax Guys revisit the study done by CPA Jade Walle in September of 2020 that concluded that switching from the income tax to the FAIRtax would reduce illegal evasion by 95%.

President Trump made a really interesting pick when he selected former Missouri Representative Billy Long to be the new IRS commissioner.  When he was in Congress, Representative Long cosponsored the FAIRtax, making him the only IRS commissioner who’s on record as wanting to abolish the IRS.Having received Senate confirmation, Mr. Long is now talking about looking to the private sector to find ways to modernize the IRS.  While that may sound like a good idea to some, the FAIRtax Guys point out some real dangers a modernized IRS presents to the American taxpayer.

Over the past several election cycles, the polling industry as a whole has struggled to accurately measure real public opinion.  However, one polling organization seems to have found a way to produce surprisingly accurate results.This week, Jade Walle joins the FAIRtax Guys to discuss a poll that organization did regarding public opinion on taxation.  While there are areas where FAIRtax supporters definitely need to pick up their game, the overall result is definitely encouraging.

Taxing income and taxing consumption are two radically different ways to raise funds for the government.  But which is better?There is nearly unanimous agreement among economists from all across the political spectrum that from a strictly economic point of view, a consumption tax is vastly superior to an income tax.  This week, the FAIRtax Guys look at a couple of different articles that address this issue.

The number of cosponsors a particular piece of legislation has can be an indicator of how much support the measure has in Congress.To that end, the FAIRtax Guys take a look at the cosponsor situation for HR-25, and unfortunately, it doesn’t look as nice as we’d like it to.  They Guys look at who has returned from last Congress to cosponsor in this Congress and also point out those Representatives who cosponsored last term, but who have not signed onto the bill in the current Congress.

President Trump is pushing for passage of what he calls his “Big, Beautiful Bill”.  It contains a variety of tax proposals that the President wants passed into law.This week, the FAIRtax Guys take a look at what’s in the bill and compare what the President is pushing for vs. the FAIRtax.

The United States is one of only two countries in the word that extends its income tax to its citizens living outside the country.  That’s true even if the citizen maintains no residence in the United States and earns no income from US sources.This week, the FAIRtax Guys welcome AFFT Grassroots Director Jim Bennett to discuss an intriguing possibility—that by virtue of holding American citizenship, the newly elected Pope may owe taxes to the IRS.

Believing a myth can be harmless, or it can have rather serious consequences.  The income tax code is so complicated and incomprehensible, it’s no surprise that myths abound regarding what’s in it and what it requires you to do.This week, the FAIRtax Guys look at ten myths about the income tax code that could get you in a lot of trouble if you believe and act on them.  Again, we have ten more reasons why the income tax code should be repealed in its entirety and replaced with the FAIRtax.

After refuting an Arizona investment advisor’s top ten reasons why the FAIRtax fails, the FAIRtax Guys went in search of another top ten list to go over, and they found one.AARP recently published a list of the top ten weirdest tax breaks that the IRS actually allowed.  In reality, it’s a list of ten reasons why the income needs to be abolished and replaced with the FAIRtax.

The FAIRtax Guys conclude their four part series responding to an Arizona investment advisor’s objections to the FAIRtax.Saving the most outrageous objection for last, the Guys point out the absurdity of the claim that the FAIRtax is infested with lobbyist’s influence.

Misinformation and disinformation continue to exist about how the FAIRtax works and how it will affect people.This week, the FAIRtax Guys continue their series responding to an Arizona investment advisor’s objections to the FAIRtax.  Of particular interest this week is the bogus argument that the FAIRtax amounts to double taxation on retirement savings.

Last week, the FAIRtax Guys began looking at a video from an investment advisor listing his top ten reasons that the FAIRtax is a bad idea.  Of course, he never does admit that his opposition to the FAIRtax is rooted in the fact that he makes his living helping people deal with the current tax system.This week, the Guys continue running down the list, pointing out all the errors, misconceptions and downright fabrications about the FAIRtax that this video contains.

Not long ago, a listener pointed us to a YouTube video from an investment advisor listing his top ten reasons that the FAIRtax fails us. As we suspected, they were largely extrapolations from someone whose business would be adversely affected if the FAIRtax was enacted.Still, the Guys thought this could be a teachable moment for anyone who might be hearing and actually considering these knocks on the FAIRtax.  So tonight, the FAIRtax Guys begin a multi-part series pointing out why “The Top Ten Reasons that the FAIRtax Fails” are actually failures themselves.

Artificial intelligence is growing more sophisticated by the day.  As a result, more and more people are turning to it to find information and answer questions.This week, the FAIRtax Guys review a fascinating social media post where ChatGPT was asked to come up with strategies for getting the FAIRtax passed through a Congress that doesn’t want to surrender the power to trade tax breaks for campaign contributions.

As President Trump continues to talk about getting rid of the income tax, excitement within the FAIRtax movement grows more intense every day.This week, AFFT President Steve Hayes joins the FAIRtax guys for a random Q&A session on several topics of importance to the FAIRtax cause.

As the young man we talked to last week found out, people’s actual experience with the income tax system is often quite different than what they expected.To that end, the FAIRtax Guys discuss an article found at nerdwallet.com regarding what people expect of the income tax system and what they actually get.

FAIRtax Power Radio welcomes an old friend back to the program and he brings a young person with him who is getting his first experience with the income tax.  Let’s say he found his first encounter with the Internal Revenue Code a somewhat less than pleasant experience.

Thanks to President Trump’s stated desire to abolish the federal income tax, interest in the FAIRtax has never been higher.  Therefore, it’s only natural that people who have never looked at the FAIRtax before would have some questions about it.This week, the FAIRtax Guys tackle some questions that have popped up on social media regarding the FAIRtax.  One deals with the impact of extending the FAIRtax to services, which are exempt from most sales taxes as we know them.