How FAST Works
was designed to replace our rigged, unfair, corrupt, ever-growing, 76,000-plus-page behemoth. It is based on IRS statistics — not out-of-the-air voodoo statistics
is fair, simple and automatic
. It consists of 8 progressive
FAST lowers tax rates
for individual taxpayers
(2% to 20.5%) and corporations
collectively, corporations usually pay less than 1%
— some corporations pay 0%!
To pay for lower tax rates and pay off the national debt, however, FAST eliminates ALL deductions
, loopholes and special credits, which are used by the wealthy and the corporations to avoid paying their fair share of taxes — the reason why our government is broke and in debt!
includes a temporary Deficit Reduction Rate
") to gradually and painlessly pay off the debt in less than 20 years and automatically
disappear when the debt is paid off.
is enacted, self-serving politicians won't be able to rig the tax code
to benefit their wealthy campaign donors at our expense.
Other FAST Benefits
simplifies tax-preparation for the self-employed as well.
saves taxpayers hundreds of dollars on tax preparation fees by eliminating tax returns
for the majority of the employed.
saves the IRS $Billions every year by making the printing and mailing of millions of tax forms, envelopes and pamphlets unnecessary.
Once the benefits FAST
provides are realized and our nation is on the right path to fiscal responsibility and national solvency, Americans' — and the free world's — faith, respect and confidence in our democracy will be restored. America will once again take its rightful place as leader of the free world.
Many Republicans habitually insist that cutting tax rates
is the best way to stimulate the economy and create jobs.
Many Democrats have traditionally believed that raising tax rates
on the wealthy is the best revenue-enhancing solution.
If we compare, these "solutions" we will see that, historically, neither has ever worked!
Lower marginal tax rates
(rates before deductions) without eliminating all deductions, loopholes and special credits
decreases revenue and further increases the national debt
— adding Billion$ in interest and making things even worse.
Higher marginal tax rates
"turn off" many voters, can be lowered again by the next administration and will be used by Republicans to label Democrats as fiscally-irresponsible, tax-and-spend Liberal/Socialists
The best solution? A simplified, permanent
solution which keeps the politicians' hands off of the tax code, where everyone
pays their fair share!