fair tax

Definition

Proposed amendment to tax laws that seeks to abolish federal and state income taxes and replace it with a federal retail sales tax. This amendment was introduced under the Fair Tax Act of 2003.

Use fair tax in a sentence

My boss believes that a more efficient way to tax our citizens is to repeal the income tax and impose a fair tax at the register instead.

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Introducing fair tax into our country would allow the Federal Government to regulate and set the tax policies which each state must abide by.

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If the US had a fair tax system, people would only be taxed based on what they spend instead of how wealthy they are; it would also eliminate unfair tax cuts at the top.

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