We recognize the dreadful necessity of taxation. As such, taxation needs to be as simple, painless and even as possible. Taxation must only be used to raise revenue to fund necessary governmental functions. The tax code needs to be free of all the artificial constructs intended as “social engineering”. It is no business of the government if you choose any particular industry or lifestyle. Accordingly we propose the following tax structure:
Note that this removes the government form the marriage and child rearing business. You want to get married? Your business, it is no business of the IRS, it doesn't affect your taxes. You want one child or a dozen? Have as many as you can raise, that's not the government’s business, that's yours.
1. Eliminate ALL current IRS regulations.
2. Set the individual tax rate at 10% regardless of income.
a) Perquisites are taxed at 10% of cost.
b) Tax only the increase in value of any investment, and only when that investment is cashed out.
3. Withhold at the rate of 11%, to get a refund you have to file taxes, but there is no legal imperative to file.
4. Since owners and shareholders are already taxed on their individual incomes, eliminate ALL corporate tax.
a) Eliminate ALL depletion allowances and depreciation allowances.
b) American taxes are only collected on money earned in America.
5. Tax ALL money coming into the country at 0% (yes, ZERO%).
6. Tax ALL money leaving the country at 10%.
Oh, and voting is tied to taxation. Only those who pay have a say. You must be a net tax payer to vote, if you are receiving more in federal benefits than you are paying in taxes, you sit out the federal elections.
Earned social security and retirement payments are explicitly exempt from those calculations as they are deferred pay and not a handout.
I’ve said for YEARS that we should be taxed at 10%. Period.
Your amendments make a lot of sense. At 10%, Americans will NOT be hurting, nor will they be able to take advantage of the tax system to find “loopholes.”
The tax system needs to be changed.
If Mr Nully doesn’t want the job of PotUS ,Would he consider the job of PM?
£120k per annum.
Company Car.
Company House in the country.
Weekly meetings with HMtQ.
Hmmm...tempted?