Less Onerous Federal Taxation

Tax code revamping based upon voluntary decisions, not coercion, and not income, generates more income and wealth with a less onerous, harassing, intrusive means of tax collections. The people would be overjoyed, with more wealth, generating more actual tax revenues, for government.

I am a monetarist not an economist, and there is a significant difference. The federal reserve note has zero intrinsic value. It has inherent value based upon demand from paying taxes under threat of imprisonment. The United States currency has a value based on the threat of imprisonment. The purpose of the income tax is to enable the owners of the federal reserve system, a private bank, to get infinitely wealthy so as to be able to control the world. If the owners of the federal reserve system discover a President is moving to remove the income tax, they will move to assassinate that President.

Each state shall implement an annual property tax, and abolish the state income and sales taxes. The federal government shall abolish the income tax. As the IRS collect sales-revenue taxes, they shall transfer to the state governments at an appropriate portion of the business sales-revenue taxtec are collected at time of collection providing a steady stream of revenue to the federal government as well as the states.

The state property tax can be significantly progressive. The purposes of this tax scheme are to minimize the harassment and intrusion into private persons lives, to provide a taxing system that is completely voluntary, to provide increases in business productivity, and increases in private persons wealth.

The federal sales-revenue tax when applied only to businesses is a federal sales-revenue tax that is shared with the states. The federal business sale-revenue rate is a flat rate percentage. The sharing rate between federal government and the states is a fixed sharing rate. The portion collected for the states is divided among the states based on respective state GDP, population or electoral college representation. The House of Representatives sets the business flat tax rate, the federal and state sharing rate, and distribution to the states.

Certain adjustments will be necessary, for example, a brokerage firm takes client monies in trust, which moneys are not revenue, but the fees charged are revenue. So the sales-revenue tax when applied to businesses is a revenue tax based upon actual receipts, that are not directed to the profitability or productivity of the businesses.

Because the sales-revenue federal tax is not based on income, any increases in productivity go directly to the bottom line, providing a tremendous incentive to increase productivity.

There are no deductions. There are no non-profit exemptions because profits and income are not taxes. Religious institutions do not pay the sales-revenue tax maintaining separation between church and state.

Wages are taxed, but it is neither a sales or a business revenue. Social Security will be transformed into a workers pension. The worker payroll tax is one tax that serves three purposes, workers injury compensation, workers unemployment insurance, and workers pension. Thus, the payroll tax goes directly to the benefit of the respective workers and is thus non-socialistic and moral form of taxation fir the benefits if workers.

In the solution for the elimination of the federal welfare complex, payroll taxes and benefits will be collected by the federal government but processed by the many states.

Under this taxing scheme there are no individual payer sales taxes, tax deductions, or tax filings, as it is primarily a pay and forget system where an individual simply buys goods, thereby eliminating the need to file federal returns.

As the decision to buy is a voluntary action, with payment of sales tax effectively by the seller, the business, it is a voluntary choice by the buyer to buy and consume. Thus, the federal sales-revenue business flat tax is effectively a consumption tax, where businesses pass the tax to the consumers through higher prices.

The federal sales-revenue business flat tax and state property tax are created only by voluntary decisions of buyers, as the sellers do not pay a sales-revenue tax unless the buyer decides to buy goods. The seller of property does not pay property sales tax until the buyer voluntarily decides to buy. Property taxes are not paid unless a buyer decides to buy property. This is freedom. There will be a minimum sales tax exemptions so that private persons selling small amounts of goods pay no sales tax on small amounts of personal sales, are not deemed to be a business, and not file returns. Congress shall enact appropriate legislation.

This tax scheme is a non-oppressive non-harassing non-intrusive tax scheme that for individuals is a buy and forget tax system requiring no filings. Not taxing income generates more income, productivity and wealth for all. Businesses including individuals regularly selling goods and thereby a de facto business will require filings above a threshold amount with the federal government, the IRS.

This tax scheme is least onerous, promotes income, wealth, productivity and prosperity, and increases our freedoms from government.