If I had my druthers…
The first thing I would do would be to eliminate the states as political units.
The second would be to eliminate the senate.
The third would be to limit terms of SCOTUS justices. Their behavior would determine their possibility for pension.
Fourth, any legislator would have to wait a minimum of 10 years before becoming a lobbyist. The reverse would also apply. The same would apply for any member of the military.
Income taxes would be radically revised. No deductions at all. Rates could go something like this
$0-$25 K - 1%
$25-$50 K - 3%
$50-$100 K - 6%
$100-$200 K - 10%
$200-$500 K - 15%
Above $500 K - 25%
Every dollar would also be subject to FICA.
Corporate taxes - rates would vary based upon number of employees. No deductions for anything. You spend money, you spends money. No amortization, depreciation etc. No interest deduction.
As banks are, by definition, insolvent they would be required to keep larger reserves on hand. In addition, bank “secrecy” laws would be eliminated. The U.S. is the largest money launderer in the world. It is time for that to stop.
Just me musing out loud…
The first thing I would do would be to eliminate the states as political units.
The second would be to eliminate the senate.
The third would be to limit terms of SCOTUS justices. Their behavior would determine their possibility for pension.
Fourth, any legislator would have to wait a minimum of 10 years before becoming a lobbyist. The reverse would also apply. The same would apply for any member of the military.
Income taxes would be radically revised. No deductions at all. Rates could go something like this
$0-$25 K - 1%
$25-$50 K - 3%
$50-$100 K - 6%
$100-$200 K - 10%
$200-$500 K - 15%
Above $500 K - 25%
Every dollar would also be subject to FICA.
Corporate taxes - rates would vary based upon number of employees. No deductions for anything. You spend money, you spends money. No amortization, depreciation etc. No interest deduction.
As banks are, by definition, insolvent they would be required to keep larger reserves on hand. In addition, bank “secrecy” laws would be eliminated. The U.S. is the largest money launderer in the world. It is time for that to stop.
Just me musing out loud…