Chairman's Report

In testimony before the Senate Finance Committee, IRS Commissioner Charles Retting finally testified that tax evasion is costing the government at least a trillion dollars a year. The Biden administration is responding with more aggressive enforcement, but is that the answer? Not really. The best way to solve this problem is to implement a system that doesn't lend itself to massive evasion. The solution is to pass the FAIRtax.

Do you ever wonder why a great idea like the FAIRtax runs into so much resistance in Congress? The short answer is money. This week Steve Hayes uncovers some eye-popping reasons why Members of Congress are so beholden to the powers in Washington that profit from the income tax.

The Biden administration is proposing massive tax hikes on corporations to finance a long list of spending initiatives. At the same time, he's promising that his tax proposals won't affect any single taxpayers making under $200,000 a year, or any married taxpayers making $400,000 or less. The problem is that that's just not possible. AFFT President Steve Hayes breaks it all down and again demonstrates how the real answer is the FAIRtax.

Once again, the "smart people" in DC have created another mess while supposedly trying to solve a problem. This time, it's our kids who suffer for it. Check it all out in this week's Chairman's Report, and see once again how the FAIRtax is the answer to making it right

Up to now, America's wealthiest taxpayers have been able to structure their affairs to greatly minimize their tax liability. However, with a new administration in Washington promising to target the 1% for higher taxes, many of them may soon decide that getting rid of the income tax is actually in their best interests. In this week's Chairman's Report, Steve Hayes explains how and why that could happen.

There's a dirty little secret in Washington. Both parties want to redistribute wealth and want to use the income tax to do it. In this Chairman's Report, Steve Hayes looks at the unintended consequences of the Biden tax proposals. It's not pretty. There's a much better way--the FAIRtax.

CPAC is a great opportunity to get the FAIRtax message in front of both political and media people. When COVID restrictions forced the conference to move from the DC area to Orlando, it gave the Florida-based FAIRtax Guys a huge chance to promote the FAIRtax right in their own back yard. This is their report of the contacts they made and the results they achieved on behalf of the FAIRtax.

Cryptocurrency was designed to make it difficult for governments to keep track of who owns it. It's impossible for an outside party to determine who was involved in a cryptocurrency transaction. Obviously, governments are fearful that the rising use of cryptocurrency could lead to a decrease in tax revenue. In this week's Chairman's Report, Steve Hayes presents an elegantly simple solution to this problem. Pass the FAIRtax.

The Biden administration has indicated that it wants the IRS to be more aggressive in its pursuit of tax evaders. While catching evaders who are shifting the tax burden onto honest taxpayers can be a good thing, there are plenty of perils awaiting both honest and dishonest taxpayers. Chief among them is the threat of referring cases for criminal prosecution. Honest taxpayers dealing with an unscrupulous IRS auditor could find themselves having to choose between caving in to a bogus demand for payment and facing time in prison. The FAIRtax is the only way to stop these abuses because it's the only tax reform plan that eradicates the IRS.

The COVID pandemic has put millions of our friends and neighbors behind the financial 8-ball. Unfortunately, instead of helping out, the income tax system is adding to the difficulties that many of these people are facing. Steve Hayes explains the outrageous situation, and shows how it would be much better under the FAIRtax.