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Author Topic:   Devising the best taxation
Buzsaw
Inactive Member


Message 9 of 70 (439606)
12-09-2007 2:10 PM


If I Were President
If I were hypothetically President here would be my hypothetical tax plan hypothetically proposed to Congress:
1. Eliminate the Fed Reserve System.
2. Reinstate the creation of money to Congress.
3. Present a Constitutional Amendment to abolish all current taxes at all levels of government and outlaw deficite spending at all levels of government.
4. Depreciate the American $ via issuance of enough $ to pay off all government debt and simultaneously outlaw any future debt spending, period at all levels of government.
5. Impose a head tax at the lowest local level of government upon all able citizens over age 20.
6. Only citizens who were unable to pay the head tax would file a return requesting exemption from the tax.
6. Reduce the IRS to what sould be needful to process head tax exemption requests.
The way the head tax would work:
1. All citizens pay a given amount to the lowest level of government, such as village, township, county, etc.
2. The lowest level keeps a given percentage (to be established uniformly over the nation) and forwards the remainder to the next level up and so on until a percentage of all taxes eventually reach the federal level.
I believe this was somewhat how governments were financed in ancient times under kings, though I'm not sure it's all that simple.
Can you imagine the booming business this system would generate with the incentive to build and improve etc? Can you imagine how much would be saved via elimination of buracracy and the elimation of the national debt etc? Yes it would appear to devastate the $ but in the long haul strengthen it to a stable and sound level.
I've said the above to say it will never happen and is likely unrealistic. However it underscores some of the problems in the tax system which work to the disadvantage of us all.

BUZSAW B 4 U 2 C Y BUZ SAW.
The immeasurable present is forever consuming the eternal future and extending the infinite past.

Replies to this message:
 Message 10 by jar, posted 12-09-2007 2:18 PM Buzsaw has not replied
 Message 17 by subbie, posted 12-09-2007 2:58 PM Buzsaw has not replied
 Message 28 by Hyroglyphx, posted 12-09-2007 6:17 PM Buzsaw has replied

  
Buzsaw
Inactive Member


Message 12 of 70 (439609)
12-09-2007 2:22 PM
Reply to: Message 8 by ringo
12-09-2007 2:00 PM


Re: Fixing the system
Ringo writes:
So, where does all that tax money go, if not into the economy?
In my upstate NY county the lion's share of it goes into expanding the government and salaries of the fatcats who have expanded their buracracy tenfold over the last fifty years while the oppressed worker population has remained static with zero population growth.

BUZSAW B 4 U 2 C Y BUZ SAW.
The immeasurable present is forever consuming the eternal future and extending the infinite past.

This message is a reply to:
 Message 8 by ringo, posted 12-09-2007 2:00 PM ringo has replied

Replies to this message:
 Message 13 by ringo, posted 12-09-2007 2:26 PM Buzsaw has replied

  
Buzsaw
Inactive Member


Message 15 of 70 (439614)
12-09-2007 2:41 PM
Reply to: Message 13 by ringo
12-09-2007 2:26 PM


Re: Fixing the system
They invest it in stocks, bonds, IRAs etc and retire with ever expansive benefits wintering in Florida, Hawaii, the Bahamas, on cruises or abroad and squandering it in the casinos doling it out to other well to doer fat cats who couldn't care less about my county's wrecked economy.

This message is a reply to:
 Message 13 by ringo, posted 12-09-2007 2:26 PM ringo has replied

Replies to this message:
 Message 16 by ringo, posted 12-09-2007 2:55 PM Buzsaw has replied

  
Buzsaw
Inactive Member


Message 48 of 70 (439759)
12-10-2007 9:59 AM
Reply to: Message 16 by ringo
12-09-2007 2:55 PM


Re: Fixing the system
Meanwhile, the fatcats feeding at the public trough in my county get fatter, government continues to expand and the workers here who don't leave continue to bear heavier burdens.

BUZSAW B 4 U 2 C Y BUZ SAW.
The immeasurable present is forever consuming the eternal future and extending the infinite past.

This message is a reply to:
 Message 16 by ringo, posted 12-09-2007 2:55 PM ringo has replied

Replies to this message:
 Message 49 by ringo, posted 12-10-2007 10:10 AM Buzsaw has not replied

  
Buzsaw
Inactive Member


Message 50 of 70 (439771)
12-10-2007 10:36 AM
Reply to: Message 28 by Hyroglyphx
12-09-2007 6:17 PM


Re: If I Were President
NJ writes:
Buz writes:
2. Reinstate the creation of money to Congress.
I'm not sure I understand what you mean here. Can you expound?
Section 8 of the Constitution entitled Powers Of Congress reads in part, "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"
The Federal Reserve Act of 1913 signed by President Woodrow Wilson relegated that power to privite bank entities. I would favor reinstating that power back to Congress. The following link explains:
The Federal Reserve Bunk
I'll try to get on with more response soon.

This message is a reply to:
 Message 28 by Hyroglyphx, posted 12-09-2007 6:17 PM Hyroglyphx has not replied

Replies to this message:
 Message 53 by kuresu, posted 12-10-2007 4:12 PM Buzsaw has not replied

  
Buzsaw
Inactive Member


Message 59 of 70 (439863)
12-10-2007 5:56 PM
Reply to: Message 55 by Chiroptera
12-10-2007 4:35 PM


Re: If I Were President
Chiroptera writes:
Of course, unless Buz would try to outlaw bank loans, his scheme isn't going to do much in this regard.
I'm thinking that elimination of the Federal Reserve System would eliminate creating money via bank loans. The banks would be required to limit loans to existing $.
One of my proposals forbids government debt and another requires Congress to coin money. A bank loan which adds $ to the $ supply would have the effect of government debt, would it not?

BUZSAW B 4 U 2 C Y BUZ SAW.
The immeasurable present is forever consuming the eternal future and extending the infinite past.

This message is a reply to:
 Message 55 by Chiroptera, posted 12-10-2007 4:35 PM Chiroptera has replied

Replies to this message:
 Message 61 by Chiroptera, posted 12-10-2007 6:00 PM Buzsaw has not replied
 Message 63 by jar, posted 12-10-2007 6:04 PM Buzsaw has not replied
 Message 65 by kongstad, posted 12-11-2007 12:28 PM Buzsaw has not replied

  
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