18 July 2012

Fair, Progressive Taxation Can Save Our Nation

The solution to the debt and deficit of the United States is simple. We do not properly collect remittances in this nation.

A single, small Act of Congress or an Executive Order (during times of gridlock) can alter our fiscal reality overnight. By placing a levee of 0.5% on each of the $1,000,000,000,000 (that's one trillion dollars) of derivatives transactions that pass through the USA monetary markets every week, a smaller fee than most industrialised nations collect, we have the capability to erase the deficit in a couple of years AND the debt in less than a decade.

Reform of the tax system results in a budget surplus without cutting a single social service or safety net component and eliminates the wasteful expense known as the IRS.

My proposal is a flat tax of 10% across the board with the only exemption being the first $150,000 of income for any individual or corporate entity. The only progression of this rate occurs for those with income of any sort in excess of $1M/year. In that bracket, the income beyond the million dollar mark is taxed at 20%, once more with no deductions or additional exemptions allowed.

That's 0% on the first $150,000 as indexed to the cost of living. After that $150,000 threshold is reached, move the decimal point and pay it off the top.

Tax the churches, the charities, the corporations, dividend recipients, capital gains recipients, and average individuals in the same manner, without exception. No deductions whatsoever allowed.

In using this method, we actually end up with a fair and PROGRESSIVE system of taxation in which no company or person may game the system and pay ZERO while reaping BILLIONS in actual profits.

Our nation will finally have a system balanced other than on the backs of the working men, women, and small businesses that make the nation run and grow -- and those who have gained most in the rape and pillage days since Reagan took office will at last pay their fair share.

By collecting proper remittance we can easily guarantee every member of our society:

  • Worthwhile Education through University or Trade School at no cost
  • Universal Health-Care (including mental-health and complementary care) at no cost
  • Proper police and fire protection at no cost
  • Access to proper legal counsel
  • Access to food for the hungry
  • Access to clothing, heat, and housing for the cold and homeless
We can also repair every road, bridge, water system, and the rest of our crumbling infrastructure while employing every able bodied individual in the nation in service to our society in so doing.

It is time to find fairness and decency through proper collection of remittance rather than cutting spending on reasonable services and civilized governance while cutting taxes for the massively entitled rich, white men of this once great nation of endless opportunity.

RM! Aggregate