HR 25 – The Fair Tax Act: A Radical Overhaul of the U.S. Tax System and Its Potential Consequences
Introduction: The Fair Tax Act, or HR 25, is a proposal to fundamentally change the U.S. tax system by replacing the current income tax structure with a national consumption tax. Introduced as a way to simplify the tax system, eliminate the IRS, and promote economic growth, the bill aims to shift taxation from income to […]