Rebuild our tax system

Economy
1
    1. FLAT TAX on all income 20%
  • (this would make sure “the wealthy pay their fair share” - those with high income from work or investments will pay a whole lot more than those with lower incomes.) No loopholes or deductions, it’s the same for everyone. No need for elaborate tax planning.
    1. VAT on all consumer goods 20%
  • (This will replace property taxes. Those with high incomes will also spent a lot more and thereby pay more taxes, Those with low incomes will pay a lot less as they spend less.)
    1. NO property taxes
  • (As long as we are forced to pay property taxes, we never really own our own homes, We essentially just rented from the government . This will help more Americans achieve the American dream - to own their own home).
  • 4, NO inheritance, gift or estate taxes
  • (These taxes should be removed as these assets have already been taxed, making it double taxation that is unacceptable in a free Society. About half the world does not have any inheritance taxes, The US is one of the top five when it comes to high inheritance taxes in the world. Not acceptable and not Compatible with “The land of the free”! Model this after Sweden, that removed all these taxes over a decade ago… Sweden is doing great without them and no one wants them back! All wealthy Swedish families moved back and took their large investments with them. We should do the same!
    1. NO worldwide or exit taxes to leave the US
  • (The US wants to become a tax haven - we want to attract many industrious and wealthy individuals and families that will bring their wealth and their business to our country, they are creating new jobs and stimulating our economy. If people want to leave the US, or even just work or invest outside of the US, that should be allowed without punitive taxation. If our tax laws are competitive worldwide as they should, people are going to want to invest and live here. No need to keep them financially captive. Free market is the best policy here too! As it is now, many wealthy families only spend a few months in the US as they don’t want to get involved in the confiscatory US tax system. They would want to move here and bring great wealth with them that they’ve been keeping out until now.)
  1. Competitive corporate tax rates.
    (Same here - Let’s make our corporate tax rates among the lowest in the world, So that investors will want to have the corporations in the US. Corporations with low taxes with in the end, gave us more tax revenue than paying high taxes).

The suggested flat taxes are just that - Suggestions! If we can keep them lower so much better, point is, they need to cover our need for revenue and be competitive with the rest of the world. With this much simpler tax system, we can reduce the size and cost for IRS significantly. Tax attorneys can find more productive jobs as their services would no longer be needed.