I love the idea of eliminating income taxes from the federal budget, but then come replace it with what, which is a bigger question. I like the idea of a tax, if you will, on state budgets. In other words the only thing the federal IRS would do is audit state budgets, no longer auditing individuals. My guess is theirs far more corruption in state budgets than is imaginable and that they badly need regular independent audits. This would also create a disincentive for states to increase their spending because now they need to give DC a cut of it too. It’ll also pit states against states for the best tax/revenue ideas.
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This one proposal subsumes all proposals to eliminate income tax for tips, income tax on overtime pay, income tax for . It will also eliminate the one agency that violates our right to privacy in massive ways. It eliminates a huge annual cost of complying with the income tax laws due to filings. It eliminates the use of taxes, credits, deductions to influence human behavior in ways no one would otherwise voluntarily choose.
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This may also apply…
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This is what we need: 1 Percent Tax Proposal 12-4-24.docx
1% transaction tax
I skimmed it over Chris – I think it is a really good idea, if the numbers are anywhere close to accurate. This could be added for state and national revenues along with Trump tariffs, and a DOGE reduction of 50%-70% of government redundancy, waste, and dept closures to set the American People on the right track for the next 100 years. Really good document you pulled together there! 