Herman Cain, business man, political conservative, and possible Presidential candidate in 2012 talks about the ways the FairTax plan would supercharge the U.S. economy sooner rather than later.
- The FairTax plan will replace the federal income and payroll based tax system with a simple, transparent and fair national retail sales tax.
- You will bring home your entire paycheck, and then you decide when and how much you pay in taxes when you spend your money.
- Taxes are assessed at the retail, or consumption, level so businesses will be able to compete globally.
- The ability of politicians and lobbyists to manipulate the tax system to benefit themselves and their interests goes away under the FairTax plan.