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Old 04-08-2010 | 06:30 AM
  #4  
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Winged Wheeler
Libertarian Resistance
 
Joined: Feb 2007
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From: 757 FO
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All income is taxed at 10%. Income tax is paid each quarter by the taxpayer, there are no payroll withholdings. There are no tax exemptions, deductions, credits, etc. The lowest quintile of wage earners may choose to claim an exemption from paying tax, at the expense of exercising their right to vote. Should they choose to remain as an eligible voter, they pay the same income tax as everyone else.

The corporate tax is abolished, but all net corporate earnings are taxed as income to shareholders, proportional to their ownership interest in the corporation.

There are no other sources of revenue for the federal government. The size of the federal government (budget expenditures) is fixed at 10% of last years GDP.

During times of war, as declared by the US congress, the congress may assess a sales tax to pay for the additional costs to the government. This tax must be voted on each year and will be void at the cessation of hostilities.

All of these must be encoded in a tightly worded amendm,ent to the constitution.

WW
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