Caustic Burno wrote:Fence you will are supplemented by the government if you live long enough like it or not. Turn 65 and see where your health insurance comes from cause no one else will cover you.
We all are supplemented like or not when you do a tax write off that is a supplement from the government and some of the most questionable come from business and ag.
That is why we should pay a national sales tax no write offs no refunds no tax forms.
You spend a dollar you pay tax no matter who you are.
Agree we need a tax that does not requires the American citizens to spend billions of hours keeping records to pay the IRS. And then billions to have someone prepare the taxes because the rules are in constant change and the the professionals filling out the IRS forms have to go to school to update on all of the new rules.
You want to get rid at least 50% of the IRS and 90% of accountants?
Simple, but will never be implemented because of lobbying to create an unequal market place. That is the only reason for specialized deductions and rules- manipulation of the free economy. A desire to achieve a specific outcome. Whether it achieves that outcome is a different story, but that is the reason.
Create a reasonable % flat tax with no deductions across the board. Anyone can use a calculator to take your end of year income and multiply by x. Done! No need for an accountant. Businesses will need a little more assistance in figuring profits vs losses ect.. but final calculation is the same.
Want to get rid of 75% of welfare fraud?
Simple, but again will never be implemented because of vote buying.
Wipe every housing, food, or whatever assistance based on income off of the books. They no longer exist.
Standardize a minimal cost of living value. If you are a US citizen above the age of 18, you are guaranteed to receive this amount of money yearly in assistance if you have not produced this on your own. Guaranteed. No need to document hardship, or circumstances. If you are breathing, you have this at your disposal. But as I stated, it is a minimal cost of living. It will afford poor people food, poor people clothing and poor people housing. Which is it's purpose.
From this point, if you work, your guarantee is still guaranteed. But will be decreasingly less provided by government as you have increasing income. If done so, you are not penalizing people for working. There isn't a one for one trade off- such as you work for $10k, you lose $10k in guaranteed income.
Say the standardized minimal cost of living is $18k. You produce 1K in income. That income is taxed at 20%. 200 goes to the Treasury and they are now only sending that individual $17,800 for the year and they get to keep $800 of the original $1k so their total intake is $18600. Produce 10K in income, you have $2k in taxes that is paid to the treasury. Treasury sends check for $16000 to the individual, plus they have 8k in earned income for a total income of $24K.
Want a better appartment? There is no penalty to find some extra income. And it builds quickly. It will help people that want to help themselves and put in place a safety valve if their world goes to crap.
At 45K the money submitted to Treasury is a wash for the money received. Pay 9k in tax and they send 9k to individual. Your income is 45K.
At 90K, you no longer have any kind of offset. You pay $18k in tax and receive $0. You income is $72k.
It's a flat tax with graduated assistance and no penalty for working.
Only penalty would be for scamming the system by not reporting income. I could think of reasonable penalties such as loss of 1/2 of guaranteed income for 5 years first offense. Loss of 1/2 for 10 years second. Third, loss of guaranteed income for life.
Since corporations have no need for graduated assistance, and individuals will be paying personal income anyway, all money not passed directly to individuals could be taxed at 15%. It would keep our tax at a more competitive level than almost anywhere internationally driving businesses and their money into our system.
Where do all the IRS agents go? Private sector with a pay raise because business will be booming.
Oh, and no need to raise the minimal wage to rediculous amounts. Lower end wages will be competitive enough that the cost of mechanizing jobs with technology will not be worth the cost. And people will have work experience to help them advance as they age, vs just sitting at home and not even entering the job market.
If this is implemented by 2024, I may start my national campaign.