Rational Americans

Fair Automatic Simple Tax

a.k.a. "FAST"

Rational Americans

Why We Need Sufficient Revenue

To Pay For:
  1. our national security
  2. our crumbling infrastructure
  3. our environment
  4. our indispensable social and Democratic institutions
  5. the healthcare of most Americans, including our veterans
  6. a gargantuan, growing, $21.5 Trillion + national debt and $Billions in interest needed to service the debt
  7. everything else that used to make America the envy of the world
Unfortunately, ours is a rigged, corrupt and unfair tax code skewed to benefit wealthy campaign donors and corporations.  As a result, through expansive use of deductions, loopholes and special credits, these "beneficiaries" — who constantly complain about high taxes and the national debt — are able to substantially lower their Effective Tax Rates to the point where some corporations often pay less than 1% on $Billions of income.  Need we ask why our budget deficit is approaching $1 Trillion and our country is drowning in a national debt now exceeding $21.5 Trillion?

The Solution

Instead of higher or lower tax rates, what we need is a tax plan designed to:
  • eliminate all deductions, loopholes and special credits
  • generate sufficient revenue to pay for all of our nation's needs
  • address our country's obscene income inequality
  • pay off the national debt and save American taxpayers $ Trillions in debt interest
In fact, we need the Fair Automatic Simple Tax ("FAST").

How FAST Works

FAST is based on IRS statistics — not out-of-the-air voodoo statisticsFAST is fair, simple, progressive (8 brackets from 2% to 20.5% for individuals) and automatic.  It was designed to replace our rigged, unfair, corrupt, ever-growing, 76,000-plus-page behemoth.
  • What FAST does:
      • eliminates all deductions, loopholes, special credits
      • eliminates most tax returns
      • generates enough revenue to fund and maintain our Democratic Agenda
      • funds the Earned Income Credit (EIC)
      • pays off the national debt in about 10 years
  • Because FAST rates automatically self-adjust, depending on the state of the budget, deficits will be eliminated.  This feature will keep politicians' hands off the tax code and minimize their influence with the PACs which provide them with the Dark Money used to buy elections, i.e., our government!
  • Low FAST rates more than compensate for the elimination of the Home Mortgage deduction.
  • Under FAST, everyone will pay their own fair share — tax evasion and fraud will be greatly reduced or eliminated and taxpayers will have more trust in the "system".
  • Lower FAST rates will provide taxpayers with substantial increases in disposable income — a virtual "raise".  This extra disposable income, when spent, will further increase demand for goods and services which, in turn, will generate new job opportunities for American workers.

How FAST Rates Are Generated

Higher v. Lower Rates
Many politicians and tax payers believe that the best way to stimulate the economy, create jobs and generally improve the lives of all Americans, is by cutting tax rates.   Conversely, others believe that raising tax rates on the wealthy is the way to accomplish these worthy goals.  But, if we compare these two opposing views, we will discover that, given our current tax code, neither "solution" would achieve these desired goals.  Here's why:
Lower Marginal Rates
The Problem
Under our current tax code, lowering marginal tax rates (rates before deductions) without eliminating all deductions, loopholes and special credits would be irresponsible and would, necessarily, further increase our $21 Trillion + national debt and add $ Billions interest, making things even worse for the economy.
Higher Marginal Rates
The Problem
As long as our tax code is rigged with deductions, loopholes and special credits designed to benefit wealthy campaign donors, raising marginal rates (rates before deductions) will not change the status quo and only achieve the following:
  • a rise in Inversions from corporations who already enjoy shamefully low "effective tax rates" (the rates they really pay) courtesy of our rigged tax code
  • more "legal" tax-dodging by wealthy taxpayers who will avail themselves of existing "deductions"
  • our 76,000-plus-page tax code will become even more complicated with the addition of more exceptions to make up for higher tax rates
  • increased polarization of voters opposed to Higher Tax Rates
Other FAST Benefits
  • FAST simplifies the tax-preparation process for the self-employed as well.
  • FAST eliminates tax returns for the majority of employed tax payers, saves money on tax preparation fees
  • FAST, makes printing and mailing of millions of tax forms, envelopes and pamphlets unnecessary — saving the IRS $Billions

Calculate Your Own FAST Tax Rates

In order to provide you with real-time graphic proof as to how our FAST model will affect your bottom line, we have created a FAST Calculator where you can input your gross income figures and our calculator will calculate taxes due under FAST and under the current tax code — based on the standard deduction for a family of 4 — as well as the difference between these two rates.  To see how the FAST model affects your bottom line, click here to open the FAST Calculator.
©2010-2018 Winston Negron - All Rights Reserved