Eliminate the tax system
Change the tax system? Do better than that, eliminate it.
Our current system is loaded with loopholes and deductions that only a select few get to use. Making matters worse is the fact that nearly half the people in this country either pay nothing in federal taxes, or get back everything they paid plus a bonus with the earned income tax credit.
What could possibly be a solution to this problem? How about a tax cut for every taxpayer in the country. Lower the tax rate on every single person who pays taxes by a set percentage, and institute a national sales tax of the same percentage. The result, a tax cut for taxpayers to offset the sales tax increase, thereby keeping taxes the same for the taxpayers. And now, for the kicker, all those millions of people who were not paying anything to the federal government in taxes will have to pay something to them every time they buy anything.
Critics will say the poor and elderly can’t afford to pay any sales tax. These people do not buy much, so they won’t have to pay much. Food and clothing could be exempted from the tax. This one simple change would generate possibly even more money than the likes of President Obama could spend.
Jessop Community Federal Credit Union