Strength From Within
This income tax operates as a bank software program.
It guts the tax code, levels the playing field, and encourages
public and private sectors to pull together on the same team.
Money Received x Tax Rate = Tax Payable
(flat tax base) x (flat tax rate) = (tax predictability)
1. There is no filing, no reporting, and no paperwork.
As money is received by taxpayers through the banking
system this tax is calculated and collected in real time, with
precise accounting to the taxpayer and the government.
2. Taxable income, the tax base, is defined as:
"money received, from whatever source derived".
Bank software is already accounting for money received.
Taxpayers now receive over $200 trillion per year.
Check and electronic receipts total 98% of money received.
Cash receipts, most being quickly re-deposited, total 2%.
3. The tax calculation is:
(Money Received) x (Tax Rate) = (Tax Payable)
4. The 1% tax rate:
($200 trillion) x (a 1% tax rate) = $2 trillion per year.
1% tax on: Is:
$one million $10,000
$one billion $10 million
5. This (flat tax base) x (flat tax rate) = tax predictability.
This predictability shall be the hallmark of U.S. taxation.
Legislation for any tax base exclusion, or any tax rate
increase, shall require a 100% senate majority vote.
Before formal adoption, this software will be developed and
operate only as practice simulations in order to demonstrate:
1. The size of the tax base;
2. The sufficiency of the 1% tax rate; and
3. How this tax is calculated, collected,
and precisely accounted for in real time.
These practice simulations will be perfected in one, then all banks.
Freedom is our strength. Freedom works.