Chairman's Report

States all around the country are waking up to the fact that an income tax is bad for their economy. Several have already moved to eliminate their state income tax. But there's a trap awaiting those who simply replace income tax revenue with a higher sales tax. AFFT president Steve Hayes lays it all out in this week's Chairman's Report.

Pollster Frank Luntz has uncovered a troubling picture of America. People think the economic system is unfair. They're falling behind financially, and many are calling for more socialism and less capitalism. There's an answer to these problems that's been hiding in plain sight since 1999. It's the FAIRtax.

This week's Chairman's Report is a reprint of an article written by Professor John Cochrane looking back at Adam Smith's work, "Wealth of Nations".

Amazon founder Jeff Bezos is proposing that the bottom half of American taxpayers pay zero income tax. Sounds interesting, but its effect would be minimal. The real problem for low income earners are the federal payroll taxes that eat up 7.65% of every dollar a worker earns. Bezos' plan leaves those taxes in place. The real answer is to eliminate both income and payroll taxes for all taxpayers. The real answer is the FAIRtax.

This week, guest author Jade Walle looks at the psychology of taxes regarding illegal evasion and shows how the FAIRtax can all but eliminate it by cutting off one of the three legs of the fraud triangle.

In this week's Chairman's Report, guest author Jade Walle makes the case that income and property taxes are the worst taxes we endure. Consumption taxes like the FAIRtax are much better because they don't directly confiscate the fruits of our labor.

Inflation is sometimes described as a "too many dollars chasing too few goods". While that's an oversimplification of a complex situation, it's basically a sound description. This week, Steve Hayes examines how the FAIRtax could help reduce inflation by making it easier for the economy to produce more goods.

In a nutshell, ethics is the study of right and wrong. There are ethical principles that should guide human behavior to be right, fair, honest and responsible. In this week's Chairman's Report, Steve Hayes applies ethical principles to taxation and finds that the FAIRtax is vastly superior ethically to the income tax.

This week, guest writer Jade Walle follows up on last week's Chairman's Report about how the income tax system is a major contributor to class warfare in America. This week, Jade explains how the FAIRtax will bring about a dramatic reduction in tax-based class warfare.

This week's Chairman's Report is guest written by CPA and AFFT board member Jade Walle. He explains how the corporate income tax is a quite modest contributor to the federal budget, but is an enormous contributor to class warfare in America.