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THE FINANCIAL FREEDOM PLAN
How to Significantly Reduce Taxes
Your taxes would be much lower if we stopped taxing income and taxed the flow of money at 0.5% instead.
We live in the material economy - the production and consumption of goods and services. The size of the material economy is our GDP, about $23.5 trillion.
There's also the monetary economy - the creation and trading of financial assets, like crypto, stocks, derivatives, MBS, REITs, and PE funds - which generate over $6,125 trillion in money flow each year.
WE'RE TAXING THE WRONG THING TODAY
The flow of money in the monetary economy from trading financial assets exceeds both the GDP and our collective income by 260-times.
The red dot is our collective income.
The blue sphere represents the flow of money in the monetary economy.
We are taxing the red dot when we should be taxing the blue sphere.
WE CAN ELIMINATE ALL OF TODAY'S TAXES
If we taxed the flow of money at 0.5%, we could eliminate all income taxes, FICA taxes, sales taxes, property taxes, corporate taxes, and excise taxes. You'd see a dramatic reduction in the taxes you pay.
You'd pay just 0.5% on your income.
If you earn $30k, your taxes would drop to $150 .
If you earn $100K, your taxes would drop to $500
WHY A FLOW TAX WOULD WORK TODAY
Our Economy Has Changed
In 1913, when income taxes were first imposed, income was the right thing to tax.
Henry Ford shocked the world when he paid his employees five dollars per day.
We entered an era in which the middle class grew and the gap between the rich and poor narrowed.
Automation changed everything in the 1970s.
Wages have been flat for the last 50 years, while production has continued to increase.
Automation caused a shift in jobs to the financial sector, which gave rise to unprecedented growth in the monetary economy.
The impact of our burgeoning monetary economy.
Unbridled growth in the monetary economy has led to an increase in the disparity of income in America.
A Flow Tax is the single most effective tool for mitigating this problem while also stimulating further economic growth.
HOW A FLOW TAX WOULD WORK
Simple, Less Overhead, No More Tax Returns
A flow tax would entail debiting a tiny fee every time money changes hands.
Creating and deleting money.
The money debited from a payment would not be credited to any account at all.
This would delete the debited money from the money supply.
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