In a recent issue, you suggested that the Democrats make this election season an “ideas primary”. Terrific idea! In my opinion, the only thing that will attract new voters is new ideas. I have some real doozies for you, but will hold off on sending them in until I can hear from you whether you want them all at once or scattered through the year in the form of letters to the editor. If it is convenient, let me know your preference.
For example: My first submission would be to replace the present income tax system with a “Common Tax 1/1”. The “common tax” part of the title means that it applies universally to every citizen of the United states of America over the age of 18. Thus, it is “common” to everyone: no favors, exemptions, deductions or any other way to avoid or evade the tax. The 1/1 designation indicates a one – time assessment 1% on the total cash assets of all citizens: 1% one time. The other <1> indicates the total maximum income tax RATE that can ever be levied, and it, too, is a one time tax on the amount of cash you add to your bank account (without regard to the amount you already have in there). The Common Tax is deducted from your deposit and forwarded by the bank to the U.S.Treasury. Thus, your tax is paid automatically. You have no more obligation: no withholding, no Quarterly Tax Estimate, no detailed record keeping, no form 1040, no schedule A or C. April 15 will be just another day on the calendar. You might think that 1% is hardly enough to cover the Federal budget. You would be surprised. π
Howard F. Sosbee 1400 Weston Ridge Road Scotts Valley CA, 95066 831, 335, 8401 hfs@sosbee.com <mailto:hfs@sosbee.com>