Abstract

Eliminate all federal income taxes

 on corporations and individuals.

Provide a revenue source

that is Fair, Simple, Adjustable and easily implemented, with:

  • A daily source of Federal Revenue

  • The lowest possible taxes for individuals and businesses

  • An ongoing economic stimulus

  • An easy means to pay-off the national debt

  • More companies, jobs and foreign investment

  • An end to the frustration and cost of filing Federal income taxes

Stimulate the economy

without increasing the US national debt, by not withholding 1.24 trillion dollars from American workers’ pay (pg. 3 table 1).

Replace the self depleting

income tax system with a simple, adjustable, no-exception, fee for using the U.S. Banking & Financial system. According to the Federal Reserve Bank, in 2015, the U.S. Financial system transferred more than 1.162 quadrillion dollars ($1,162,279,000,000,000) between financial accounts (Exp. buyers and sellers). If the fee for buyer and sellers had a base rate of 16 cents per $100 transferred (credit card processing fees are more than 10 times that rate), the fee revenue would have covered the $3.7 trillion spent by the Federal government in 2015. If a one-time, .04 cent debt-surcharge was added to the base rate, the surcharge would have reduced the national debt by $1 trillion.

Share the cost

of the federal government equally. Those who use their money to make money (the wealthy) will pay more in fees than the middle class who have less to invest, and the poor will pay the least. It is a simple and fair system; free of loop holes and based on an adjustable formula.

Using the U.S. Financial system

as the federal revenue source is self-promoting; the more money passed through the system; the lower the transaction rate for everyone; the lower the transaction rate; the more money available to pass through the system.