Another options would be the tranaction tax collected by the federal
reserve on federal reserve notes or their electronic or book entry
equal on corporate and government accounts and finicial instruments
of corporations and government, again small US corporate accounts
could be exempt as would wages and benefits from working for a large
corporation. All non corporate and non government tranactions would
not be taxed. large corporate , manufacturing, wholesale and retail
sales could be exempt but large corporate reality, utilty, mining and
oil depleation tranactions and large corporate farms would not be
exempt, small corporations and non corporate in those and every field
would be exempt
A professor of economics at the Universty of Wis. at
Madison fiqures that in and from the US there is a total of over 850
trillion dollars in tranactions, retail sales only make up 5% of
that, foreign exchange, currency trades, bonds, stocks, futures make
up 85% of that, the vast majority of those tranactions are large
corporate and government tranactions or their finacial
instruments.
Probably 75% of all of the above non exempt tranactions
are government or large corporate tranactionms or their finicial
intruments. So say 75% of 850 trillion would be over 637 trillion,
if these tranactions were cut in half because of the tranaction tax
that would reduce the revenue base to a little over 318 trillion, a
federal revenue neutral budget to replace all present federal taxes
would take a transaction tax on the above only of around 7 tenths of
1%, to replace the personal income tax and social security tax
without the present social security surplus would take around 5
tenths of 1% thus if you bought a 10,000 dollars of government bonds
or large corporate stocks the broker would be charged a 50 dollar
tax, when you sold it you would be charged 50 dollars. If you sold a
10,000 dollar car you would pay nothing, if you made a 10,000 a week
wage you would pay nothing, if you invested in a non corporate
business or a small corporate business you would pay nothing.--- In
[email protected], Jon Roland <[EMAIL PROTECTED]> wrote:
>
> Shift the tax to corporations? Ever hear of capital flight? This
avenue
> has been explored by economists, and most agree that it would cause
most
> corporations to move to other countries. Many are already doing so
to
> avoid the corporate income tax, and taking jobs with them. It
doesn't
> work for one country to adopt radical changes in its tax methods
that
> don't mesh with those of other countries. Right now the U.S.
benefits
> from overall lower tax rates, keeping a lot of corporations and
capital
> here that would otherwise move away. One of the reasons I propose
the
> purchase tax, which is similar to the value-added tax used by most
other
> countries, is that it would avoid capital flight.
>
> -- Jon
>
> ----------------------------------------------------------------
> Constitution Society 7793 Burnet Road #37, Austin, TX 78757
> 512/374-9585 www.constitution.org [EMAIL PROTECTED]
> ----------------------------------------------------------------
>
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