Lowering taxes at least ten percent across the board, notwithstanding preserving taxes necessary for essential public services, can ensure an economic recovery that will endure.
The Transaction Tax Act:
I am inclined to support a heretofore unheard of, equal transaction tax that could replace cumbersome, unjust and ambiguous IRS tax law.
While the so-called Flat Tax has been labeled regressive because an equal amount of tax percentage levied upon wage earners and executives impacts the net income of wage earners more than executives, a flat tax need not be regressive if the percentage imposed on all is at least 10% lower than current tax rates. The problems associated with a flat tax arise when the government sees fit to increase taxes to adjust for imbalances. However, one equal transaction tax upon most all conveyance of money would simplify the law and affect everyone, both people and entities equally. Such a tax would be fair so long as it comes with a reasonable cap.
This "point of transfer" automatic tax, as I propose, is presently possible as most all currency and dollar transfers are becoming increasingly electronic, and will be entirely electronic in the very near future.
The justification for taxing a modest amount upon all transfers by all persons and entities that transfer money, is simply that citizen's and corporate entities must pay for the privilege of living in the United States and utilizing its array of federal and state services and infrastructure.
Other persons and entities who choose to live or do business "off the grid" and who do not transfer as much money, or who contribute back to the "grid" such as in units of collected solar power, shall not be discriminated against and shall be eligible for credits.
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