Simple Fix For Economy That Won't Cost a Dime
Here's a simple fix for our economic woes that won't cost a dime:
- eliminate all sales taxes.
- tax only individuals on their income, not businesses.
Sales taxes are a terrible idea that should be stopped. Right now, many companies are complaining that Amazon doesn't have to charge sales tax giving Amazon an unfair advantage over their brick and mortar competitors. Eliminating all sales taxes for everyone will fix this.
How about taxing people on income and not taxing businesses? There's no such thing as a business without people. A business is just a concept - there has to be someone receiving the profit. Why not just tax the income when a person actually receives it? Eliminating income tax on busines will free business to focus on good ideas rather than tax impact.
Where can states and cities get their income if there is no sales tax? From income taxes alone.
What would happen in our economy if there were no sales taxes and no tax on businesses? The economy would become highly productive because no one and no business would be wasting time and money trying to control their tax exposure - we would enter a whole new era of productivity and wealth. This would be a positive change in our society on a scale to rival the industrial revolution and at the same time, it would be more fair.
See http://fairsimpletax.blogspot.com/ for more detail.