THE FAIRTAX PLAN - H.R. 25 / S. 296
2009 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, lines 2-8 below,
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 Single or Married, 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 rebate check in the amount of:

$.0

Your taxable income left to spend after deducting your tax-free spending listed above in lines 2 through 8:

$.0

Your maximum annual FairTax dollar costs, including Social Security contributions, based on estimated income and spending above:

$.0

Your estimated annual net effective FairTax on the income and spending listed above:

0%

Remember your tax numbers under FairTax 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


IMPORTANT FICA KEYNOTE - 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 with your current income tax rates, or any projected Flat Tax rates, remember to add your 7.65% FICA payroll taxes to your Income Tax expenditures before comparing your tax rates. The proposed Flat Tax of 17% will also not effect 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 alone through income tax deductions. Remember, your employer is also paying 7.65% into FICA on your behalf, money your employer cannot give you in the form of higher wages. FairTax eliminates both of thesetaxes.



If you like your FairTax numbers, please contact your Congress members and urge them to
support the FairTax, the simple & progressive national retail sales tax plan for America!

Ask your legislators to push for TAX REFORM FIRST!  Remember, FairTax IS the
ultimate Social Security reform, allowing you to save and invest all you
want - totally tax free, and without any government interference.

Americans for Fair Taxation Houston Headquarters - www.fairtax.org

Calculator prepared by members of the PA Chapter of AFFT - www.pafairtax.org

 

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