Health Care and Tax Reform

Best concept to finance government in the history of mankind!
This concept "Life Without Income Taxes" would:
Provide money to:
•Pay for health care.
•Buy a home.
•Send our children to college.
•Give to charities.
•Investment in business.
•Buy U.S. Government Bonds and T-Bills.
•Finance home loans.
It will:
1. Lower Individual Income Taxes to Zero.
2. Lower Employment Taxes to 2%.
3. Lower State Income Taxes to Zero.
4. Lower Corporation Taxes to Zero.
5. Lower Estate and Excise Taxes to Zero.
6. Give retirees more money each month than Social Security.
7. Allow stay at home moms to have a retirement account.
8. Raise the minimum wage.
9. Lower the trade deficit.
10. Simplify the IRS tax code.
11. Lower the cost of goods and services.

This is how it works:
1. Individuals age 18-64 would save 5% of their income each year in a retirement account.
2. At retirement, the assets in the accounts will be converted to income producing instruments that will pay interest only payments each month. The principal is never spent and is left in the account until death. After death of both husband and wife, the assets in the account are converted to cash and are paid to the U.S. Treasury.
3. After 40 years, with all Americans participating, this concept would generate more income to the U.S. Treasury than the present Individual income tax collection system.
4. The "Tax" would not be collected until the death of both husband and wife, leaving both retirement accounts for the use of the surviving spouse.
5. Only 2% would be needed to support Social Security.

40 years from now this concept will produce more revenue the U.S. Treasury than the present individual income tax because:
2,500,000 people die each year. If 2,000,000 retirement accounts are worth $1.5 million, then $3 Trillion will be collected from the unused retirement accounts each year. ($1.5 m x 2.0 m =$3.0 Trillion)

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[helltrackrider]

OR....we could go the traditional route and CUT government spending to its legal, traditional and constitutional limitations...historically speaking about 3% of the GDP.

And rely primarily on Tariffs and Excises...rather than an immoral form of property taxation.

[Niftytax]

@helltrackrider Ok ...any ideas on how we go about doing what you suggest??

[helltrackrider]

@Niftytax

Abolish the Federal Reserve, restore a Gold/Silver standard...this removes inflation.

Abolish the IRS and 16th Amendment...this removes the income tax.

Phase out Social Security...remove Medicare/Medicaid...cut ALL military personel and establishments in foreign Countries...remove Unemployment and ANY form of Federally funded social program...

Department of Energy, Agriculture, Education...list goes on.

Remove +80% of todays existing Federal government.

[Niftytax]

@helltrackrider, We need to do ALL of these things....but you did not say how you go about doing any of them. My plan will phase out Social Security and address some of your other suggestions.

[ParrhesiaJoe]

@Niftytax Internet. Software will be done soon. Open source, E-Democracy. It will replace government overnight.

Software will allow any population with internet access to set up any type of government they wish (Oli, Anarcho-Capitalist, Religious, Random Representative, Direct Democratic, Consensus Direct, etcetera.) We can decentralize it, too.

Behavioral Economics, Mesh Theory and Internetz are about to come together. Probably about 2 years, I'd say. Until then, try and elect Ron Paul.

[helltrackrider]

@Niftytax

Easy...elect Ron Paul...repeal any Laws / Amendments which created these illegal institutions...or, have society nullify them themselves; when noone participates --- the laws will be unenforceable (unfortunately, this will never happen)...so, start by electing true Liberty loving individuals...Ron Paul and the Libertarian Party.

[helltrackrider]

@Niftytax

Just getting rid of the Federal Reserve and relying on Constitutional money (Gold and Silver coin) would reign in Government to a somewhat legitimate size...not to mention remove the moral hazards that led to the internet and housing bubbles we have recently been through.

[CoreEnterprises09]

It's better than what's going to happen if we don't change things, but I still don't think it near as effective as the government simply doing what the people can't do for themselves. Retirement, health care, welfare are the kind of things that either we should do for ourselves or our families and communities should help out of their own free will (which, by the way, shouldn't be difficult if people wait till they can afford it to have children or buy crap)

[kappkids]

how about everything right now is just fine? all we have to do is stop building other shitty country's and worry about our own country. that sounds like a better plan.

[Niftytax]

Mortgage backed securities such as GNMA Fund Investor Shares at Vanguard are good investments. What is not a good investment are Credit Default Options (CDO's) these ar the "TOXIC ASSETS" everyone should avoid!!!!!