IT IS TIME TO REVOLT AGAINST OUR ABUSIVE FEDERAL INCOME TAX CODE – ABOLISH IT IN ITS ENTIRETY AND PROVIDE FOR THE JUST AND FAIR COLLECTION OF SUFFICIENT REVENUES TO SUPPORT A FEDERAL GOVERNMENT LIMITED IN ITS SCOPE TO THE POWERS ENUMERATED IN THE U.S. CONSTITUTION.
In that our Federal Income Tax Code, has become so large, so over-encompassing, so impossible for even full time experts and scholars to decipher with any consistent agreement, LETS START OVER!
The sole purpose of the code should be to raise revenue for legitimate Federal governmental purposes as enumerated in the U.S. Constitution. It should not be a vehicle for achieving, the financing of State and Local governments within the United States or foreign governments without, no matter how friendly. Funds for those purposes should be raised at the State or Local levels or NOT AT ALL!
Therefore I hereby propose the following New Federal Income Tax Code:
- REVOCATION: The Internal Revenue Code (the “Code”) including the taxes assed on individuals and all artificial entities and each of its regulations and authorities are hereby revoked as of this date in its entirety, except as specified below.
- CORPORATE CODE; There is herby levied upon each and every legal (non-human) entity (without exception), a tax of;
(a) either 5% of gross receipts without deduction or exemption, or
(b) at the election of any entity having equity, member, partner or shareholder interests, (made by its first filling its annual return), 0, with the delivery to each of its of a proportional pass-through of all net income as determined under the Code. Which passed through income shall be taxable to such individuals.
- INDIVIDUAL CODE; There is herby levied upon each and every individual (human) entity, a tax of 15% without deduction or exemption, of all gross receipts as determined under the Code.
- Procedural Matters:
(a) A gross receipt is any amount deposited or capable of being deposited in any financial account or its equivalent value in goods or services rendered delivered or given without consideration.
(b) The full amount is be deducted and remitted upon each deposit. For equivalent value in goods or services rendered delivered or given without consideration not deposited such amount is to be calculated and remitted by the recipient with in 30 days.
(c) Failure to comply fully in any respect will result in the immediate loss of all social services and benefits payable in whole or in part from the Federal government until payment in full, with interest and a 25% penalty has been satisfied for the Taxpayer, the Remitter and their families.
Lest this be thought unfair and unprogressive here are three examples;
- An individual earning $10.10 per hour over 2000 hours in the year will pay $303.00 in total – far less than her current payroll taxes alone.
- Two earners in a home in a community property state, one earning nothing and the other earning $200,000,00 will pay $30,000.00, which is less than their current average tax burden.
- An individual earning $2,000,000 composed of distributed profits from entities, tax-free interest from municipal bonds and earnings from work will pay $300,000.00, most probably more than he is currently paying.
In sum, that above tax code is SIMPLE, EASY to apply, understand and enforce. Favors no one with political or economic clout and will greatly diminish the cost of the current tax collection and administration system.