Overhauling the U.S. income tax system is a top priority at the Selous Foundation for Public Policy Research. Adopting the FreedomTax will cut taxes and bring simplification and fairness to a complicated, costly and too often politicized revenue collection process.
The FreedomTax, employing at-source collection, will free everyone from the intrusive and oppressive top-down Internal Revenue Service. With the universal tax return filing requirement eliminated and the income tax focused on taxing income instead of people, the use of the IRS as a weapon against political opponents will end.
Without the universal tax-return requirement, there will be no accumulation of personal information in the IRS data banks to be hacked – taxpayer data breeches will also come to an end.
In turn, the FreedomTax will reduce the size of the tax code by 95% and end the IRS as we know it. To the average American in search of liberty and prosperity, this will be equivalent to abolishing the IRS.
The FreedomTax is designed to modernize the corporate income tax by eliminating the separate treatment of corporate income and individual income. All income will be taxed at the same 10% flat rate.
Worldwide taxation is a flawed concept. The FreedomTax is a territorial system of taxation that will tax only U.S. income. Specifically, the foreign earnings of U.S. citizens and U.S. companies will not be taxed.
With the current tax rates on business income exceeding the those of most other countries, American business is placed at a severe competitive disadvantage. Under the FreedomTax, American business will see the tax advantage turned in its favor. And, business, no longer facing excessive domestic income tax rates, will have more reason to locate plants and jobs right here in the United States, rather than abroad.
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This is an opportunity to cut taxes, reduce the size of the federal government and abolish the IRS, as we know it. The FreedomTax offers our children and grandchildren a brighter future.
Under the FreedomTax, the Estate Tax (a.k.a. the death tax), the Gift Tax and the Capital Gains Tax will be repealed. Having one low rate of 10%, the FreedomTax is true flat-rate taxation.
But it’s not going to happen by itself. The challenge to supporters of the FreedomTax is to write about it and talk-it-up everywhere, on radio and TV programs, to convince Americans (including our representatives in Congress) that the proposal will benefit everyone in terms of economic growth (particularly job and wage growth). Just from its low 10% rate of taxation, there will be more disposable income available for savings and investment. Tax burdens will be lightened. Economic prosperity will flourish.
Now is the time to endorse us. As an authorized agent for your organization, just fill out the form below.
And, you can also sign up as an individual to become a volunteer leader in your state.
With the FreedomTax, it will be morning in America again!