Keep it simple. Flat tax.
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Simple yet easily manipulated. How many billions in revenue are generated from illegal activities every year? Money laundering, illegal gambling, drug sales, prostitution, under the table wages. None of it is captured as income. Then, you still have the same tax code (the real problem) intact. Then there are all the other taxes and fees on every utility bill, cell bill, cable and internet bill. Same problems, nothing is fixed.
Please consider reviewing my proposal to ban China from Selling to Americans
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We arenāt suggesting keep the government whole. They need to live off of less money.
Yes itās time to abolish federal taxes and implement sales tax. Keeps it fair.
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This solution wouldnāt make Congress explain anything. They already operate at a deficit, spending money without raising the revenue. We need a balanced budget amendment
āAttention everyone! - Please consider our proposal to MMTLP policy (Stop Naked Short Sales)!
You have been robbed too!
Highly appreciate your participation and your vote to bring awareness to this issue!
ā MMTLP policy (Stop Naked Short Sales)
rbh
Proposal for Congressional Policy to Address Naked Short Selling.
Making Markets Transparent Legitimate and Principled (MMTLP Policy)
Executive Summary:
Naked short sellingāessentially the counterfeiting of stocksāis eroding trust in our financial markets and jeopardizing the retirement accounts of countless Americans. The case of ticker symbol MMTLP serves as a stark illustration of the pervasive issues linked to these practices. This proposal advocates for a congressional hearing to investigate the ramifications of naked short selling and to establish policies that safeguard investors and enhance market transparency.
Background:
The trading of MMTLP was halted by FINRA nearly two years ago due to what they called an āextraordinary eventā. This event was never disclosed to the investors who have had their funds frozen for nearly two years. The unprecedented U3 halt of MMTLP resulted in significant financial distress for 65,000 to 100,000 investors. Despite their efforts to communicate the details of this situation to Congress, there has been insufficient support for a formal inquiry. Compounding this issue, the SEC has stonewalled congressional inquiries, while FINRA has actively resisted transparency efforts in court, preventing a clear understanding of the actual share count related to MMTLP.
Objectives:
Conduct a Comprehensive Investigation and obtain the Certified Audited Aggregate Share Count for MMTLP.
Gather Investor Testimonies. Collect firsthand accounts from affected investors to highlight the real-world impact of naked short selling on their financial security and retirement savings.
Establish a congressional hearing to delve into the practices of naked short selling and prioritize efforts to ascertain the certified audited aggregate share count of MMTLP, promoting transparency and accountability within the market.
Formulate Regulatory Reforms: Based on the findings of the hearing, propose specific regulatory changes aimed at enhancing market transparency, protecting investors, and preventing further abuses.
Rationale:
The situation surrounding MMTLP exemplifies what may be one of the largest Wall Street scandals in decades. Regulatory bodies, which are intended to protect investors, have instead contributed to their harm through inaction and resistance to transparency. A formal congressional hearing will not only bring these critical issues to light but will also empower Congress to enact meaningful reforms that restore trust in our financial system.
Call to Action:
I urge Congress to prioritize this issue by supporting the establishment of a hearing to prioritize the certified audited aggregate share count of MMTLP. By doing so, we can protect investors, ensure a fair market environment, and uphold the integrity of our financial system.
Additional Resource:
For further context on this issue, please view the following video: [Link to Video] https://www.youtube.com/watch?v=wWlLOoo9c2o 13
Thank you for considering this urgent proposal to safeguard
the financial futures of American investors.
Within Herman Cainās proposal was no sales tax on used items. That allows lower income people to have choice of buying a used item without paying taxes on it. Would that work under your proposal?
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As I posted here:
ā¦I think the issue would be a transition strategy to a new system. I proposed two ideas that I think would effectively do so.
Telling on yourself not understanding tax policy.
What about states that have no sales tax, like Oregon.
We have no sales tax and I hope we keep it that way!
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Why would you?
This is a serious forum, try to keep it that way.
This is a massively underappreciated perspective. Iāve never been to Oregon, so I have no idea what the people of Oregon would want or not in terms of taxation. I live in a no income tax state and hope to keep it that way! This is why I posted the link I did a couple posts up and another advantage to a decentralized tax collection method.
No, you live in a no-state income tax state. If you canāt get the basics right (in relationship to yourself) then how do you plan on convincing others your serious?
Iām fairly certain after over a week of this policy being proposed it is now garnering attention from people who donāt effectively pay an income (getting more back at the end of the year, than actually paid throughout the year), now just looking at ways to continue that.
Bottom line, everyone pays. Regardless of income level. Everyone should shoulder the burden, no free passes.
I do stand corrected, I do live in a no-state income tax state. You are correct, I apologize for the misstatement.
Further, my suggestion isnāt that anyone gets a free pass (and, no, I donāt - I pay in aggregate, across all taxation, more than I get).
I made two suggestions on my post, which admittedly would need a whole lot of additional input or refinement. Since Iām only one person, just as you are, I sure hope thereās a collaborative effort to produce a better and more thoughtful idea than whatever you or I derive individually.
I commented on this particular policy because I think it has the most merit in terms of a sustainable policy. Iām not sure why youāre questioning how serious I am, but I certainly am not questioning you, so taking the tack you are with me seems to be marginalizing the whole point of this website.
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I guess Iām getting a little aggravated (not with you) with so many commenting on how how they hope things change but not for them personally. It reminds me of people who dislike every politician except the one they voted for. Itās a Macro and micro problem (fed taxes and carve-outs), my solution is to fix the macro with a sales tax and the micro with no more carve-outs (except food and labor).
Giving lower income special status is counterintuitive to the entire process. Lower income earners buy less expensive goods than higher income earners do except food and labor hence the only two exemptions I think should be allowed.
This is all based on the premise of how āfairā is defined, I define it as equal.
Thatās a fair point and I agree - it does seem like as a country, weāre all for fixing whateverā¦as long as itās someone elseās problem, and thatās an underlying issue we really need to start fixing by first taking a look in the mirror.
Iām not an expert, Iām not an elected official, Iām not an economist or an authority on tax policy. Iām a taxpayer and a private citizen. My point wasnāt to hijack the topic.
One of the two ideas I posted was a decentralized tax collection model, which seems like a good idea to me. My point was if I were to divide out the federal budget per taxpayer, then multiply that per taxpayer that lives in each state, does it matter to you if Oregon uses an income and property tax model to collect it, Florida uses a sales tax model, and some other state you donāt live in uses some other model? If the federal government is sent the money, does it matter to you how someone in another state pays it? Further, wouldnāt it be a good thing to have your state government and mine as a whole press Washington to be more responsible with the money we send versus try to rally a bunch of us individually to press them to do so?
I do believe that ultimately the sales tax model will prevail, but my believing it doesnāt mean a thing, so Iād be willing to have a competition to prove that it works once and for all.
I will give you this, I did call for a provision for refunds/relief aimed strictly on a poverty line income basis, so it does have a progressive calculation/element. We can certainly disagree there on the merits of that piece, but I donāt think that a straight line model without some progressive tail at the bottom has any chance of making it through Congress, so Iād take 60% of better versus trying to hold out for 100%ā¦because, as you and I know, we have a very limited window left before the current broken system that has created trillions in debt forces us to default.
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One thing to point out - I mention a ātailā rebate program for lower income taxpayers. This would be in lieu of the food and labor exemption mentioned herein. My suggestion would be a no exemption program (itās on everything), then at the end of the year, a citizen can, solely at their option, file a rebate request with the IRS. If and only if a rebate request is filed, the IRS would only then verify citizenship and check for all known W-2s against that SSN, and rebate the amount/ratios I had suggested on the other link. I suggested this versus exemptions because it seems like often times where thereās a law that says āX is illegal except for A, B, and C,ā people take advantage of A, B, and C, and itās the law abiding citizen that gets the short end of the deal. This would be across the board taxation, then a simple calculation for the rebate.
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By having no sales tax Oregon gets people from nearby states to come and buy things, often big items like cars and RVs. It helps our local economy to be different.
I agree, however i support the www.fairtax.org plan that will completely eliminate the IRS. Give it a look, id hope that you would agree.