George S
Veteran Member
Make all Federal tax be a tax on GDP.
Business thrives on predictability. They can plan ahead better. When different sectors, industries, and different companies get tax favors planning ahead is difficult.
So, no corporate income tax. It has been a sales tax all along. Who pays that tax today? The consumers, in the price of the product or service.
Individuals thrive on predictability. Their income tax has been paid to them by their employer in their salary. It, too, is essentially a sales tax.
So, no individual income tax.
Now take last year's revenue from income tax and convert it to a percent of GDP. This tax bill is sent to the states and territories as that percent of their GDP.
Hide it in WYSIWYP -- What You See Is What You Pay. At each state border we may see a large change in gasoline prices. Gas is already WYSIWYP. If you are choosing between hotels in two different nearby cities, the advertised price may be, and often is, downright misleading. Sometimes a lower advertised price nets more. I should be able to rent a room advertised at $99 with a $100 bill and get a room key and a dollar back. If the burgers cost $6 each I know in advance that $30 in my pocket will buy 5.
In all subsequent years last year's government expenditure, in total, is converted to a percent of last year's GDP, and collected pro-rata from the states.
There must be a uniform tariff on all goods crossing our borders. Say, 10% with no exceptions.
There must be a predictable, stable currency. There must be one and only one permanent price-control. A Constitutional Amendment with a poison pill. If any other product is price controlled the basis is instantly changed. Anything at all would work. A permanent $15/hr minimum wage would base the dollar on one hour of unskilled labor. Almost any durable metal, like gold or platinum or silver would do.
This is probably impractical. Congressman would lose most of their power, which is in tax favors for donors. Shall we return to the Senators being appointed by Governors again and go further making them employees of their state? Their state pays their salary and expenses. They are not Federal employees. Make the Representatives' salaries the median salary of the district they represent. This would be the entire compensation of Representatives. They get their own insurance just like we do. They pay their rent and travel expenses just like we do except for two first class flights to their district and back per year.
Business thrives on predictability. They can plan ahead better. When different sectors, industries, and different companies get tax favors planning ahead is difficult.
So, no corporate income tax. It has been a sales tax all along. Who pays that tax today? The consumers, in the price of the product or service.
Individuals thrive on predictability. Their income tax has been paid to them by their employer in their salary. It, too, is essentially a sales tax.
So, no individual income tax.
Now take last year's revenue from income tax and convert it to a percent of GDP. This tax bill is sent to the states and territories as that percent of their GDP.
Hide it in WYSIWYP -- What You See Is What You Pay. At each state border we may see a large change in gasoline prices. Gas is already WYSIWYP. If you are choosing between hotels in two different nearby cities, the advertised price may be, and often is, downright misleading. Sometimes a lower advertised price nets more. I should be able to rent a room advertised at $99 with a $100 bill and get a room key and a dollar back. If the burgers cost $6 each I know in advance that $30 in my pocket will buy 5.
In all subsequent years last year's government expenditure, in total, is converted to a percent of last year's GDP, and collected pro-rata from the states.
There must be a uniform tariff on all goods crossing our borders. Say, 10% with no exceptions.
There must be a predictable, stable currency. There must be one and only one permanent price-control. A Constitutional Amendment with a poison pill. If any other product is price controlled the basis is instantly changed. Anything at all would work. A permanent $15/hr minimum wage would base the dollar on one hour of unskilled labor. Almost any durable metal, like gold or platinum or silver would do.
This is probably impractical. Congressman would lose most of their power, which is in tax favors for donors. Shall we return to the Senators being appointed by Governors again and go further making them employees of their state? Their state pays their salary and expenses. They are not Federal employees. Make the Representatives' salaries the median salary of the district they represent. This would be the entire compensation of Representatives. They get their own insurance just like we do. They pay their rent and travel expenses just like we do except for two first class flights to their district and back per year.