Send and receive texts free with android phone?

I am about to get a HTC Thunderbolt and want to squash my old text plan. Does anyone know of a texting app that lets you send and receive free texts. Only I want the received texts to be free whether they are responses or new incoming messages. Also the other person shouldn't have to have the app installed als well. I just don't want to pay Verizon for texts anymore since I'm paying $30 for data. Does anyone know of an app that does this?