More Study of Solutions

I really enjoyed this article, but believe that the thinking is somewhat backward. The author would attempt to make current tax policy direction more efficient. He would suppress or limit the revenue capacity of Income Tax. There is the Dream of an Consumption Tax–the goal of Businessmen since time began–shoving all Cost of Government off on the Consumers. Business does minimize the impact of reduced Customers, knowing that All must return eventually; simply to acquire the maintenance of life. We need another look at the data, and alternate Suggestions.

I think hard on the Tax dilemma, and reach certain conclusions. Income Tax has to be cut down in rates charged, and tax remissions must be eliminated. One of the ideas I have come up with stands that the World has speeded because of technological conditions, and Taxes based on yearly outcomes may be outdated. We might require a Income Tax based upon a single Week, even a Month possibly too long. It is an interesting concept, as Income suddenly develops the same status as Sales in taxable quantity; Income taxed at point of origin for all Types, not just Payroll taxes. It becomes clear that the Issuer of Income become liable for both reportage of Income, and payment of said taxation as Tax.

There would be the automatic contention that there would have to be an elimination of progressive taxation. I don’t believe this to be the Case. We can set different rates for the differing amounts of Check or Cash issued; higher compliance on the part of the Issuer gained by allowing them to keep 2% of the revenues collected to defray the Costs of Collection and possibly to even pay some Profits from the Collections; this places the Issuer in the position of desiring the highest revenue generation possible. There will be Complaint that there is no place for Tax exemptions, deductions, etc., from the matrix; a great loss expounded by Rich people bemoaning the fate of poor people, and in reality, the chance to game the system to save Money. The Solution would be to force each Taxpayer to register each Week’s Income online with statement of what sources of Income were received and from Whom, all in order to gain their desired tax deductions–which will be paid directly into a registered Bank Account upon approval of all deductions. The IRS could check both for honesty of reportage, incite a disincentive to claim all of the ridiculous tax reduction claims which will require lengthy Periods to confirm, and such automatic Returns could take Months, Years, or Decades to confirm. My tirade might seem foolish, but it could become a competent system to handle Tax collections. lgl