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An Alternative US Tax Code

By Hoeltzel, Mick

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Book Id: WPLBN0003468568
Format Type: PDF eBook:
File Size: 0.2 MB
Reproduction Date: 11/6/2012

Title: An Alternative US Tax Code  
Author: Hoeltzel, Mick
Language: English
Subject: Non Fiction, Political Science, Taxes
Collections: United States, Public Economics, Authors Community, Criminology, Finance, Finance Management, Social Sciences, Marketing, Commerce, Political Sociology, Management, Economy, Literature, Political Science, Most Popular Books in China, Law, Government
Publication Date:
Publisher: Self
Member Page: Mick Hoeltzel


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Hoeltzel, B. M. (2012). An Alternative US Tax Code. Retrieved from

Income up to $50,000 per individual is not taxed on the federal level with the exception of the flat fee tax of 0.001. So that $50k of income represents $50 in transaction tax for the transfer to the individual. Any purchases or other financial transactions are also subject to that transaction fee. A voluntary additional transaction fee of another 0.001 would cover the liability for reporting cash transactions. Another component is that income over $50k per individual is taxed progressively. Businesses may have $1,000,000 of profit tax free, but still subject to the transaction fee.

A simple US tax code that has a fixed tax component, a progressive tax component and a database that can be used for a more complete summary of actual US financial transactions.

The US tax code is complicated and misleading. The following proposal has a flat tax rate as well as a progressive tax rate. The progressive tax rate is on normal earned income. There is a violation of the double taxation standard in regard to the transaction tax. This is bypassed by considering each financial transaction as conveying an item of worth and each transaction is a single entity. The transaction tax is 0.001 x the total value of the transaction. The vice transaction tax is 25% of the total value of the transaction. The transaction tax is usually paid by the seller. There is a special income category for entities that win court judgments and the lottery. That wealth transfer is not subject to the earned income tax rate or political contribution tax as long as that income is placed in a savings account of some kind. If the seller does not pay the transaction tax or report the transaction, the government is able to seize all assets of that entity. The principles in the entity are subject to criminal prosecution. An exception to the seller paying the transaction tax occurs when international financial transactions are made. In that event, if the purchaser is native, then the transaction tax is paid by the purchaser. If the seller is native, then the transaction tax is paid by the seller. International financial transactions are taxed at 0.002 x the total value of the transaction. Additionally, a voluntary tax of 0.001 of the yearly reported income for an individual or business may be paid to limit the liability of those entities regarding unreported cash transactions. This does not limit the liability nor tax paid in regard to the vice tax rate. It is tempting to request a constitutional amendment which would require the federal government to balance its budget on a fraction of the transaction tax, say 0.001 x 0.001 or, 0.000001 of the total value of the transactions for a year. Most of the money not allocated to the budget would be used to pay off the federal debt. It is also tempting to place a Cost of Living Adjustment (COLA) index to the tax free portion of income for individuals and the no tax profit for corporate entities.

Table of Contents
Overview Individual earned income Examples for Individual earned income Corporate Tax Plan with Examples Rational for this proposal


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