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To: PilotDave
Raising Taxes reduces government revenue, I agree.

I favor one of two options, to resolve this mess.

Option 1: A tiny tax on every money movement, that expands the tax base to the widest participation possible, everybody pays, something on the order of .03 per transaction (any money movement), eliminating every other federal tax, including the income tax. So yes, 100 K of income, you pay maybe 3000 dollars per year. Without the need to file a return or worry about records and such, or having the IRS on your back.

Option 2: No federal taxes at all, and the government just prints the 3.7 Trillion they need to pay for the operation of the Federal Government, encompassed within the trillions needed for a liquid economy. With that our economy becomes tax free, and we have inflation, but the hit from inflation might not be as bad as the debt crisis we now have, if we can control spending and entitlements.

Our GDP is about 14.5 trillion dollars per year, if there are no federal taxes that might send our economy to say 20 trillion or more, which minimizes the inflationary element of the 3.7 million government FLOAT. The key factor is holding government down and cutting spending. If the economy does well, unemployment is 1%, then people will learn to live without government benefits.

With a no tax economy, the government essentially is taking a skim off the top of the economic activity of the country, sort of like the Godfather skimming off his Casino.

No taxes, brings in money from overseas, we become a giant Switzerland or Cayman Islands.

Added to that, we develop oil on government land to the max and this could also take our gas prices down to 1 dollar per gallon. That alone could offset the inflationary element of printing 3.7 trillion for the Federal Government operations.

35 posted on 11/28/2012 7:35:38 PM PST by agincourt1415 (Tired of the current State, and Federal Tax System go here: APTTAX.com)
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To: agincourt1415

Most excellent sarcasm!


36 posted on 11/28/2012 7:53:02 PM PST by quantim (Victory is not relative, it is absolute.)
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