[jrfaug06]

A few years I had an idea to let banks deduct a small percentage say 1% from each transaction. Say you go cash a check. The bank will deduct 1% to give to government and you get the rest. Say you go to deposit 100 cash to your account. They will deduct 1% and give to the goverment. Every time a check of yours clears they will deduct 1%. When the company you paid for a debt deposits your payment they will get deducted 1%. Every time any one deposits or disburses 1% will be deducted.

Let's recongize that we have a closed system and use the banks to collect our taxes. They are already set up for it. Biggest plus will be it will hit the illegals sending money to Mexico or wherever.

John

[APT Project Director]

John, your post about the 1% deducts is pretty close but 1% is too much -- it only needs to be 0.25% per side of every transaction. The paycheck example you mentioned would be $2.50 per $1000 for your employer when his/your paycheck clears his account and $2.50 per $1000 off your account when you deposit the check. Thank you for appreciating this great idea. As you read the rest of these posts describing horrendous results ask yourself - would an internationally known Professor of Economics not have considered these thing before putting his name on the line? and finally, does this or that argument mean that we should all continue to pay 70 TIMES more tax than we have to?