Commentary
Twenty-five Republican members of the House of Representatives co-sponsored a bill to radically overhaul the U.S. tax system. The Fair Tax Act of 2023 (H.R.25) proposes to eliminate all federal income taxes, replacing the revenue with a national sales tax of 23–30 percent.
The bill is well-thought out and extremely thorough. It effectively would repeal the Sixteenth Amendment, thereby prohibiting the federal government from levying income taxes.
US Tax Policy: A Brief History
Major overhauls in the financing of government are rare. Article 1, Section 9, of the U.S. Constitution prohibited Congress placing a tax on incomes. Except for a few brief departures, prior to 1913 the federal government did not tax either individual or corporate incomes….