Business Profits Tax

Someone just stated that if I was going to advocate a form of taxation, people could evaluate it better if I gave a general outline of the scheme. I thought about this for a moment, and decided there was a shred of truth to that statement. It made me organize my Thoughts, and herein follows my desired definition:

Business Profits Tax:

1) Taxation must be placed upon the total Dollar volume of Sales, not simply Business Profits, but those Profits should be taxed though not penalized.
2) Volume Sales should have an irreducible base tax of 7%, but should increase at a rate sustainable with success. Profits below a minimum base, Negative-5% Profit should endure a 7% tax on total Sales. The tax would increase 1 percentage point for every percentage point increase in Profits; with the Tax rate rounding to the next higher number. The total tax would maximize in most case at 19% of total Sales, for Profits of 14% and up.
3) Most would say this is a National Sales tax, but it is not; for the tax increases in rate with the increase in Profitability, and the next provisions will provide more impact.
4) The only deductions from the Tax will be justifiable Expense in the year in question. To this End, Business will be allowed to deduct as Expense only that Debt which is not self-financed; in other words, the Debt must be Publicly-held by an Organization independent of their own borrowing company, and only such Interest and payment of Capital made in the Tax year will be accepted as a deductible Expense. (My suggestion is Corporations put their excess funds in Capitalization ventures or in a Bank like Everyone else).
5) Profits above $100 million per year will have a 2% Surtax added to such Profits above their scheduled Tax rate. Profits above $1 billion per year will have an additional 4% Surtax added to their scheduled Tax rate. Profits above $10 billion per year will have a 6% Surtax added to their scheduled Tax rate.

Certain Base Facts must be known:
1) All Special taxations will still be withheld from Employees and Employers, such as Social Security, Unemployment Insurance, and possible mandatory minimum Health or other Care Insurance.
2) Capital Gains Taxation will probably be retained.
3) Income Tax would be repealed.
4) The taxes would be assessed solely of Business, tax rates will not show up at the Cash Registers.
5) The Tax rates will give automatic Tax relief to struggling Business operations with lower rates built in, with more profitable Business paying their fair share of the total Tax burden without excess burden. lgl