Richard Mondale Loc: Montana

Income tax loses us $1 Trillion/year. Calculation cost $600 Billion, Lost Export Orders $500 Billion, Opportunity Costs ?. Take the tax at a different point in the exchange and production cycle. Tax the withdrawal of money from the bank to make the purchase. To the bank it would be like adding Sales Tax. Result: low cost, consumption based, favors local production, exports are largely tax free, imports are fully taxed, large companies will vertically integrate and will sell direct to customer. The key is 'multiple counting' as product moves through distribution chain, so the rate can be low. 5% results in 30% (of cost of manufacture) tax take, with almost no calculation cost, collection fee, or harassment. We need a better, cheaper, fairer, more uniform, and globally competitive tax system. This is it. Thank You

Lonewolf

As long as it doesn't raise the taxes on the rich , if it does it will never fly.
Soon the Republicans will have given the rich 100% tax brake

Radiance3

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There are poor who are good, and not of their faults. I want to help them.

But all the poor suckers of the democrats are brainless useless thugs, depending only on government subsidies from hard working paying taxes. The democrats stand for handouts, consumptions of socialism and progressivism. They suckle and drain what are earned by the hardworking class of who pay taxes, those who create, ideas, invent, innovate, produce, and use their hard earned capital for businesses that create jobs for the people.

Government does not produce. It consumes what are earned by the hardworking taxpayers. That is why all socialist countries like those from Central and South America are all r**ting because their stupid dumb government system does not allow them to produce but consume until the their assets are gone.

Now, marching towards the US illegally, as hundreds of million have already broken the US laws to illegally come for handouts. Democrats like that because they use them to illegally v**e for democrats.

crazylibertarian Loc: Florida by way of New York & Rhode Island

I suggest that 100% of government revenue be raised by submitting a population proportionate bill to each states for its payment for federal services and the states raise the funds any way it desires.

Richard Mondale Loc: Montana

A friend of mine recommends what I call 'Pay it forward taxation'. Cities would collect Sales Tax, keep some and send the rest to the County, who would keep some and pass the rest to the State, who would keep some and pass the rest to the Feds. I kind of like that.

Richard Mondale Loc: Montana

My tax, which I call the Banker's Tax, is limited to 5%. That is a significant reduction for most tax payers, and there is no paper work to pay for. The complaint will come from those who have saved after tax money and now have to pay a new tax. Any ideas how to deal with that?

Richard Mondale Loc: Montana

Boy! You are so right. That is what I'm trying to address.

trucksterbud

You need to research the information of Walter Burien Jr and his Tax Retirement Fund movement. Which is being actively blocked by the feds or CIA or someone.

The feds take in enough money via sales taxes alone to provide quite nicely for all. But we have to do away with the bloated beauracracy, government overreach, and excessive spending. Trump understands this, and has spoken to Walter Burien in person.

Check out Mr. Buriens work at: http://www.CAFR1.com

maryjane

But what about the tens of millions of citizens who never have bank accounts?

Richard Mondale Loc: Montana

Money always goes back to the bank, because it is difficult and dangerous to have large amounts of cash on hand. Businesses deposit every night. Then Banker's Tax requires pay to be made with FDIC instrument, if not then there is no record that the payment was made, so the employee could demand repayment. The employer would have to get a receipt.
Then, if the Employee wants to take the cash, then it can be assumed that it will go through several hands before it gets back to a bank, so several layers of tax are to be paid. Additionally someone has to pay for printing those dollars. So, the employee can deposit his money in an account and write checks, use cards, etc and pay 5%, or else he must pay 20% (three layers of tax, plus mint costs)
Finally barter exchanges, using Gold or services, owe taxes. Thus big corporations will not use this method of c***ting, so this barter will be used only by small individuals and will act as a stimulant for small businesses.

Richard Mondale Loc: Montana

There is one other attractive feature. This tax will be entirely on the fiat money system. If you use money you will pay tax and will support the Gov. In other words the Gov will provide a service for profit just as the founders wanted. Hey, Uncle Sam, get off your butt and get a job.