In response to recent Mike Zielinski column:
Half the price paid for everything by everybody is federal taxes. Add state taxes and it’s two-thirds. If businesses hadn’t had to pay half their operating capital to government as taxes all these years, they could have used the money to make their plants clean enough to satisfy even global-warming wackos.
We the people pay all taxes, and we the people are the only ultimate source of tax revenue. Since there is only one source of all tax revenue, We the People, there should be only one tax to collect all federal revenue: A single, simple, full-income tax levied on living persons. The price of everything would be one-half what it is now, doubling our buying power. Congress will need less than half of what they spend now.
All existing federal taxes, fees, charges, tariffs, Obamacare (tax), Minimum-Wage (tax), and the IRS to be abolished and replaced by a single, simple, full-income tax levied on living persons who have income, One Tax And Done, to provide jobs for 95,000,000 unemployed citizens. The states would see how well this worked on the federal level, and could also do it. The Smoot-Hawley Tariff turned the 1929 Stock Market Crash into a worldwide Great Depression. The tax amount for somebody living on $10,000 Social Security would be based on that income. The Obamas’ taxable income would include the $85,000,000? in taxpayer-funded vacations. The Clintons’ taxable income would include the billions of dollars collected by their foundation.
Some people will tell you that all businesses would hire robots. Ten percent (10%) of employers are large industries which can afford robots costing $1 million each. The remaining ninety percent (90%) of employers are small businesses which will hire people as employees. Many new jobs would be created after passing One Tax And Done.