Highlights
Get Rid of the Cumbersome Filing System
Get Rid of the Cumbersome Filing System
Get Rid of the Cumbersome Filing System
Using a transaction and royalty tax-based system, Americans would no longer have to deal with the complicated and stressful process of filing income tax returns. Wouldn’t you gladly pay just ten cents more on every beer you buy to avoid the annual headache of navigating tax forms and deadlines?
You Would Still get Credits
Get Rid of the Cumbersome Filing System
Get Rid of the Cumbersome Filing System
Under this system, all the revenue needed to fund the current federal government would still be raised, including the credits millions of Americans rely on each year—though currently, many exist only on paper. In this new tax paradigm, families and individuals who qualify for these credits would receive them as a direct deposit once a year, eliminating the need to file to claim them.
Affordable for All
Get Rid of the Cumbersome Filing System
Affordable for All
This tax collection structure would significantly reduce the average worker's annual tax burden from roughly $2,200 to just $900. On average, individuals make about 75 transactions per month, equating to $37.50 monthly for federal taxes and $33 monthly for future social needs like Medicare. As a result, the typical American family would
This tax collection structure would significantly reduce the average worker's annual tax burden from roughly $2,200 to just $900. On average, individuals make about 75 transactions per month, equating to $37.50 monthly for federal taxes and $33 monthly for future social needs like Medicare. As a result, the typical American family would retain an additional $2,600 in their bank account each year.
Royalites for All
Lower Corporate Burden
Affordable for All
Have you ever stopped to think about how we've helped Facebook generate over $1 trillion in revenue over the past decade, only to receive the "gift" of social media addiction in return?
Under this system, while companies like Facebook would see their tax burden reduced, they would also pay royalties back to the American people. This way, when they thrive, we all share in the success!
Lower Corporate Burden
Lower Corporate Burden
Lower Corporate Burden
Last year, Apple Inc. paid over $22 billion in taxes. Under this tax structure, their burden would decrease to approximately $13 billion. You might think, "Wait a minute—isn’t that too little?" But it’s important to note that much of their current tax burden gets passed on to consumers through higher prices.
With this new system, corporat
Last year, Apple Inc. paid over $22 billion in taxes. Under this tax structure, their burden would decrease to approximately $13 billion. You might think, "Wait a minute—isn’t that too little?" But it’s important to note that much of their current tax burden gets passed on to consumers through higher prices.
With this new system, corporations would have more resources to invest in their employees, fund research and innovation, create new jobs, and reduce the cost of the products and services they offer.
There is a Better Way
Lower Corporate Burden
Lower Corporate Burden
Millions of Americans live in constant fear of making mistakes on their IRS tax filings. But it doesn’t have to be this way. By simply adding about 1% more to everyday transactions, we can eliminate that stress entirely.
The reality is most people wouldn’t even notice spending an extra dime on a beer. Many would gladly trade the fear of a
Millions of Americans live in constant fear of making mistakes on their IRS tax filings. But it doesn’t have to be this way. By simply adding about 1% more to everyday transactions, we can eliminate that stress entirely.
The reality is most people wouldn’t even notice spending an extra dime on a beer. Many would gladly trade the fear of accidentally getting something wrong and facing penalties for the simplicity of paying their fair share automatically at the cash register.