Social media influencers have to pay taxes on their income the same as any other small business owner. But figuring out what expenses rise to the level of being legitimate business expenses isn't so clear. Steve Hayes explains in this week's Chairman's Report.

The FAIRtax would be a godsend for the individual taxpayer. No more withholding, no more payroll taxes, no more tax returns, no more IRS and a tax refund every month. But for those making their living off the income tax system, the FAIRtax would require some lifestyle adjustments. Check it all out in this week's Chairman's Report.

Recent reports have confirmed what many Americans already suspected--that the income tax system is rigged in favor of the wealthiest Americans. Check out the details in this week's AFFT Chairman's Report.

The Council of Economic Advisors is one of the most prestigious appointments a practicing economist can achieve. Several Nobel Prize winners have chaired the council. Recently, the CEA released a study on the effects of eliminating state income taxes. Not surprisingly, they found that replacing income taxes with consumption taxes would have a myriad of positive effects. Check out the details in this week's Chairman's Report.

The same tax can actually have several different rates depending on the calculation method used. Knowing which rate you're dealing with is essential to making accurate comparisons between the income tax and the FAIRtax. Steve Hayes breaks it all down in this week's Chairman's Report.

If you think that the tax you see added to your subtotal on any retail receipt is the total amount of tax you're paying on that purchase, you're dead wrong. This week, AFFT president Steve Hayes explains how federal taxes that you don't see on your receipt make everything you buy significantly more expensive.

Over 170 countries around the world have adopted the value added tax (VAT) as their primary revenue source. With President Trump looking to abolish the income tax, many in Congress are looking at a VAT as its replacement. While it may sound good in theory, there are some serious problems with a VAT. AFFT president Steve Hayes lays it all out in this week's Chairman's Report.

If you think that the tax you see added to your subtotal on any retail receipt is the total amount of tax you're paying on that purchase, you're dead wrong. This week, AFFT president Steve Hayes explains how federal taxes that you don't see on your receipt make everything you buy significantly more expensive.

Some in Washington are looking at a Financial Transaction Tax (FTT) as a quick and easy way to generate a lot of revenue for the government. Unfortunately, there is a critical error in their thinking. AFFT president Steve Hayes breaks it all down in this week's Chairman's Report.

With President Trump on record as wanting to abolish the income tax, alternative methods of raising revenue are receiving unprecedented attention. This week, AFFT president Steve Hayes looks at an article published in USA Today detailing the difference between a consumption tax and an income tax.