Comments on: ABOLISH THE FEDERAL INCOME TAX http://revolutionradio.org/?p=14058 Your Weapon of Mass Destruction Wed, 22 May 2013 00:54:44 +0000 hourly 1 http://wordpress.org/?v=3.0 By: tom beebe st louis http://revolutionradio.org/?p=14058&cpage=1#comment-29400 tom beebe st louis Mon, 18 Apr 2011 16:22:04 +0000 http://revolutionradio.org/?p=14058#comment-29400 How about cancelling the entire tax code, AND All entitlements (Social Security, Medicare, Medicaid, Pell Grants, Food Stamps and welfare, to name some but not all)? Insted try this, it fits on one page (a simplicity and transparency test), it treats every American equally, and it exempts from tax only those things, education, health care and savings, which contribute to the growth of our wealth. Yes, it also has a generous personla exemption which, whe combined with a negative income tax, provides the "safety net" that has become sacred. Here's the plan: TAX AND ENTITLEMENT REFORM 1. All persons residing in the U.S. shall come together in households for the purpose of reporting all income from any source, each item to be identified by payer's and payee's tax number, and for receipt of federal and state benefits. Members of a household need not be related, need not reside together, and a household may consist of as few as one person. 2. Each year congress shall set by legislation a "minimum wage" and a "tax rate". 3. The following income shall not be subject to taxation: • An amount equal to a year's earnings at the minimum wage rate, for each adult (age 20-65) member of the household, decreasing 10% per year to 50% at age 15, and increasing 10% per year to 150% at age 70. • All payments for what is classified as necessary health care for all members of the household including medical care, any pharmaceuticals prescribed by a recognized health care professional, vision and hearing aids, and membership fees for health-enhancing entities such as gyms or other exercise facilities. Health care insurance premiums may be deducted but not health care expense paid for by such insurance. • All educational expenses including day care for young children or legally incompetent persons, that portion of state and local taxes identified as spent on education, that portion of parochial school tuition, fees and other expenses identified as going for non-sectarian education, tuition, fees and educational materials for private school education at any level, and a per-diem allowance for students traveling more than 50 miles from primary residence for education. • All income saved into an identified account from which investments may be made. All withdrawals from this account for the benefit of any member of the household shall be reported as income to that member. 4. The "tax rate" shall be applied to any income over and above the deductions listed above, regardless of amount. 5. At the request, by legislation duly enacted by any municipality having greater than 100,000 inhabitants or any state, a surtax may be imposed on citizens of that municipality or state which shall be applied in a manner exactly as applied for the Federal tax. 6. For households whose deductions exceed total income, the Federal Government shall make payment equal to the tax rate multiplied by the shortfall in income, as shall municipalities and states. 7. There shall be no federal tax on corporations or other business entities. 8. The Office of Management and Budget shall compute revenues to be expected using the newly set tax rate and minimum wage, applied to the previous year's reported incomes. No expenses in excess of that amount may be authorized or made by the federal government without approval by 75% of each house of Congress. Your suggestions sincerely requested. E-mail them to tbeebe6535@yahoo.com. How about cancelling the entire tax code, AND All entitlements (Social Security, Medicare, Medicaid, Pell Grants, Food Stamps and welfare, to name some but not all)? Insted try this, it fits on one page (a simplicity and transparency test), it treats every American equally, and it exempts from tax only those things, education, health care and savings, which contribute to the growth of our wealth. Yes, it also has a generous personla exemption which, whe combined with a negative income tax, provides the “safety net” that has become sacred. Here’s the plan:

TAX AND ENTITLEMENT REFORM

1. All persons residing in the U.S. shall come together in households for the purpose of reporting all income from any source, each item to be identified by payer’s and payee’s tax number, and for receipt of federal and state benefits. Members of a household need not be related, need not reside together, and a household may consist of as few as one person.
2. Each year congress shall set by legislation a “minimum wage” and a “tax rate”.
3. The following income shall not be subject to taxation:
• An amount equal to a year’s earnings at the minimum wage rate, for each adult (age 20-65) member of the household, decreasing 10% per year to 50% at age 15, and increasing 10% per year to 150% at age 70.
• All payments for what is classified as necessary health care for all members of the household including medical care, any pharmaceuticals prescribed by a recognized health care professional, vision and hearing aids, and membership fees for health-enhancing entities such as gyms or other exercise facilities. Health care insurance premiums may be deducted but not health care expense paid for by such insurance.
• All educational expenses including day care for young children or legally incompetent persons, that portion of state and local taxes identified as spent on education, that portion of parochial school tuition, fees and other expenses identified as going for non-sectarian education, tuition, fees and educational materials for private school education at any level, and a per-diem allowance for students traveling more than 50 miles from primary residence for education.
• All income saved into an identified account from which investments may be made. All withdrawals from this account for the benefit of any member of the household shall be reported as income to that member.
4. The “tax rate” shall be applied to any income over and above the deductions listed above, regardless of amount.
5. At the request, by legislation duly enacted by any municipality having greater than 100,000 inhabitants or any state, a surtax may be imposed on citizens of that municipality or state which shall be applied in a manner exactly as applied for the Federal tax.
6. For households whose deductions exceed total income, the Federal Government shall make payment equal to the tax rate multiplied by the shortfall in income, as shall municipalities and states.
7. There shall be no federal tax on corporations or other business entities.
8. The Office of Management and Budget shall compute revenues to be expected using the newly set tax rate and minimum wage, applied to the previous year’s reported incomes. No expenses in excess of that amount may be authorized or made by the federal government without approval by 75% of each house of Congress.

Your suggestions sincerely requested. E-mail them to tbeebe6535@yahoo.com.

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