Wherein we Abolish the Income Tax, Obviate the Debt Ceiling, and End the Deficit. F**k Income, Tax Wealth
A truly simplified method for funding the government. A balanced budget that Lenin could love.
Fuck income, tax wealth.
We eliminate all deficits by the following arithmetic:
Each fiscal year, we total up last year’s expenditures. (E)
We total up the combined wealth of the nation (W)
We exempt an amount equal to 200 times the poverty level (200P)
We assess individual non exempt wealth (W-200P) as necessary to equal E. Probably between 1 and 5%, but always exactly the amount spent.
Hence no deficit. The debt stays steady at 14 trillion, and becomes an increasingly trivial fraction of gdp.
Fairness addendum: In this system, at least as regards fire, police, national defense, there is a perfect proportionality between the costs of services and the value of the service to the taxpayer, as measured by what they have to lose through inadequate funding of such services.
Class war, y’all.