>>>My plan would be to set a poverty rate that nobody pays taxes on. Everybody gets out of poverty first and everybody pays the same flat rate for everything else above it.<<<
That's not a bad idea. But I prefer to have a system that's more automatic--government revenues coming in without folks having to go through the pain and anquish of having to prepare taxes--keep them free from even having a thought about cheating or hedging, etc.
1) National lottery.
2) Impose what I call the Marijuana-Tobacco Trafficking Elimination Act. Change how these substances get marketed. With pot substantial profits will be removed from the mob and placed into the pockets of government, via taxation and grow-licensing fees.
But here's the catch: We make it illegal to sell either substance in a rolled form. Make folks buy the product in pouches, instead of rolled packs--make 'em roll their own if they wish for the freedom to smoke. A consequence will be less tobacco smoking as rolling, for many people (not me--lol!), is not a particularly attractive act. Thus, we'll see a reduction in the smoking of tobacco which can only have a positive impact on the health care system: fewer contractions of cancer, for example.
3) Establish a National Inheritance Bank. When someone dies only certain items are directly passable to heirs; for example, the place of primary residence, an automobile or designated heirloooms. All non-designated assets, including savings, stocks, bonds, business investments etc., then become valued and this value and control of them pass into the Inheritance Bank.
The heir(s) can still attain the value of assets but it comes in the form of a loan which must be paid back to The Bank either before or at the time of the heir's death. For example, I die and I've got one million in assets and two children. Each child can get $500,000 to do with whatever they wish. However, before they die they must repay that amount to the Inheritance Bank. Let's say they do not and each of them go on to turn the $500,000 into $750,000. Well, their next line of heirs would only be eligible to receive a loan of $250,000, as the $500,000 would be repaid back to the National Inheritance Bank.
Government would operate from the enormous interest which would grow from the combined accounts.
For sure, it's a wild idea but so isn't the current IRS system--lol!
And, of course, the real benefit to my plan is we'd eventually eliminate 'silver spoonism'--lol! The rich would have to work at remaining rich. And guess what? Because of this it's likely they'd become better, more attentive, students at Harvard and Yale--lol! And it's also possible that they'd become more productive citizens, instead of just assuming everything is for them 'cause of what their daddies' did before them.
In closing, more wild ideas to come--keep thinkin'--lol!!!!! |
