The Proposal Details. 1. Let us state that for everyone who has income, the first $15,000 of that income is revenue neutral. In the case of an employee, the employer takes the $15,000 out as a payroll deduction over a years time so that an employee, gets his $15,000 but it is transferred to him after a work deduction rather than a Company paycheque. The balance is given to him at the rate he and his employer have decided his wage is. A man earns $50,000, he gets $35,000 from his employer and $15,000 rebated to him through his Basic Income. If it is income from dividends or Capital Gains or profit, the same rule applies and if the income earned is less than the Basic Family Income, then it has to be remitted in it’s totality. 2. Let us state that out of the $15,000 three Universal Programs are paid for that directly benefit all citizens. 1. Medicare valued at $1000 per citizen per year. ($30 Billion for Medicare) 2. Education valued at $1000 per citizen per year. ($30 Billion for education) 3. Defence valued at $500 per citizen per year. ($15 billion for defense) I feel it is essential that these three programs are not considered taxes, rather they should be considered "premiums" on programs that are universal and are directly funded through deductions. As each citizen benefits, each citizen should contribute, from a new born child to a senior citizen. Therefore, the government will with hold $2500 from each persons Basic Income and these funds will be directly applied to these three programs. There is one other problem in Canada that is equally shared and that is our National Debt of $600 billion. If we were to make a National commitment to pay this off at $60 billion per year for 10 years, this would include a further deduction from each persons Basic Income of $2000. Therefore, I am proposing that as each person receives a Basic Income of $15,000, there are these 4 deductions which reduce the amount paid to each individual in cash to $10,500. ($15,000 minus $4500 equals $10,500) When the National Debt is paid off, there will be an cash increase on the Basic Income of $2000. 3. Now we come to the tax on all income over $15,000 to be taxed as a flat tax. The question is, "what percentage?" I would like to clarify that Income is all income, labour, profit, and dividends. This is the most important idea in the plan in that Income is defined as wages, profit earned by companies, dividends earned by investors. (According to Stat’s Can (see end of article), the Net Domestic Income of Canada is $632 billion.) I would expect that the Provinces would get their share of the pie out of transfer payments and on a population basis, their share of the Medicare and educational monies. So there it is in general outline.
