National Sales Tax (NST) For Universal Medicare, Budget, & Deficit (See #36-#41)
QUICK FIX FOR JOBS:
1.) Rescind all EPA regulations imposed by President Obama.
2.) Re-authorize resumption of oil and natural gas drilling in Gulf of Mexico, Alaska, Pennsylvania, Texas, & entire 5 state Bakken areas.
3.) Authorize the approved Keystone oil pipeline; Canada to Texas.
4.) Unblock irrigation stoppage in California which stoppage devastated substantial domestic vegetable crops.
5.) Cancel EMPLOYEE payroll tax holiday.
6.) Eliminate employer federal payroll taxes for the first $50,000 of E-verified citizen worker pay, excluding guest and foreign workers.
7.) Eliminate top limits of pay subject to FICA and Federal UC etc.
8.) Unilaterally end all Middle East Wars, saving $600 Billion a year.
9.) Close most overseas military bases;
10.) Re-deploy troops to new U.S. border bases and for disaster aid;
11.) Apply means-testing to ALL applicants of ANY government benefit.
12.) Defund Foreign Aid for combatant countries and China, etc;
13.) Restrict most foreign aid to purchases of U.S. goods and services;
14.) Require shipment aboard U.S. cargo ships;
15.) Eliminate duplicate and overlapping bureaucracies and programs. 16.) Eliminate farm subsidies for corporate non-family farms.
17.) Eliminate ethanol subsidies; food should not be used for fuel.
18.) Reduce jobless benefits by 20% for each additional 26 weeks;
19.) Limit medical liability damages to save on unnecessary redundant tests done to limit malpractice liability, along with full tort reform; & allow sale of medical insurance across state lines;
20.) Limit reimbursement for prescriptions to the cost of generics;
21.) Demand bulk discounts from pharmacy companies;
22.) Allow sale of medical insurance across state lines;
23.) Penalize fraud–Social Security, Medicare, Medicaid, Purchasing;
24.) Disband or sell off Fannie Mae, Freddie Mac, HUD and GSEs;
25.) Defund NPR, PBS, NEA, Nat. Endowment of Arts, etc;
26.) Defund Planned Parenthood, ventures, and government research;
27.) Defund Congressional commuting on government jets;
28.) Audit and/or disband the Federal Reserve;
29.) Freeze annual budget total until balanced budget is achieved;
30.) Increase margin requirements on all stock market short sales;
31.) Rein in EPA and relax regulations for business and oil drilling;
32.) Treat all welfare benefits, Social Security and entitlements as taxable income;
33.) Mandate annual tax filing for all citizens, legal or not, income earned or not, to be used as basis for public assistance, census, and as basis for a Medicare version of Universal HealthCare, funded as a by-product of the National Sales Tax (#36). Graduated Income Tax tables (#49) should be identical for corporate, partnership, individual filing; charitable and non-profits. Eliminate all tax loopholes and subsidies.
34.) On 1040 charge $1 for each person listed to create annual census count. Total dollars charged equal total legal population that can be further refined by city, state, zip, etc.
35.) Make employee paid health premiums deductible from taxable income in addition to STANDARD DEDUCTION; on parity with non-taxable employer paid health insurance.
36.) Institute a 3% National Sales Tax (NST) with NO exceptions for resale, charity, non-profits, religious, education, or government. The many cannot be continually supported by the diminishing few. A 3% NST might raise as up to $7 Trillion annually, double the budget, reduce national debt, spread tax burden to all residents, legal or not. Allocation should be the 1st 1% toward Budget, the 2nd 1% toward debt reduction, the 3rd 1% for Universal Medicare (identical to Medicare plus monthly) for all legal U.S. residents.
37.) The 1% NST collections is dedicated to Universal Medicare and automatically eliminates most State Medicaid benefits, costs, and overhead. State Medicaid mandated costs would be eliminated, reducing State budget shortfalls and tax requirements.
38.) According to a 7/6/10 analysis by attorney Lanny Davis published in The Hill, there were $755 Trillion in total transactions in the U.S. in 2008; $443 Trillion if exempting stock transactions. Accordingly NST on stock market transactions should be set at ½ of 1%, beating the International movement toward the inevitability of this type of tax. This ½% stock market transaction tax will inhibit the negative and controversial effects of High Frequency Trading (HFT) that causes artificial volatility as traders execute trades in milliseconds capitalizing on penny spreads and transaction speeds in the blink of an eye, not available to ordinary investors. HFT operates in a betting parlor atmosphere that is more gambling than investing, and may eventually be the vehicle to collapse the market as it already has on one fateful day when HFT was a contributing factor in the flash crash of May 6, 2010. Reuters reported that a computer-driven sale worth $4.1 billion by money manager Waddell & Reed Financial Inc. triggered the May flash crash that set off liquidity shocks that created havoc, instantly wiping out substantial stock market values before anyone knew what happened and why. A report exposed the relationship between E-Mini Standard & Poor’s 500 futures and S&P 500 “SPDR” exchange-traded funds detailing how HFT algorithmic trading saps liquidity and rocks the marketplace. (Memo: The US government now receives about $200 billion a month in revenue, $2.4 Trillion annually, and spends about $320 billion a month. $3.84 Trillion annually.)
39.) There should be no exemption for sales of any product or service whether for Resale, Church, Government, Education, Private or Public organizations; Imports, Cash, or assets transferred out of the country, including corporate transfers to foreign subsidiaries; Tax On-Line sales and sellers, EBay, Private sellers, Barter, PayPal and Credit Card Companies. Payment Clearing Banks would be depositories for NST, similar to collection of payroll taxes while Government 3% tax payments are to be used for that particular government debt reduction.
40.) According to The Patriot Post on July 8, 2010, unionization of federal employees resulted in non-military federal employee salaries average 40% higher than private sector, but while private sector benefit packages average $9,882, government and union employee benefits average $32,115. This imbalance cannot be sustained. Federal wage and benefits must be frozen until parity is achieved.
41.) An estimated 48%+ of citizens pay no Income Tax while 24%+ do not pay Payroll Tax. This jeopardizes a Balanced Budget as too large a number of households owe nothing in federal taxes, casting an ever increasing burden on the diminishing number of actual tax payers, a situation that is not sustainable. The 3% National Sales Tax will level the playing field by spreading the burden to all and give new life to the Bible story of the “Widow’s Mite,” who gave her last two coins.
42.) Money and benefits received for NOT working should not be tax-free or treated differently than the same amount of wages and benefits received by actual workers. There are documented cases of welfare recipients benefiting unfairly by having benefits equal to an actual worker’s wages but employees must pay taxes and benefits out of their wages and the equivalent “Earnings” to a welfare recipient are free of any of those charges.
43.) A welfare recipient receiving $30,000 in “BENEFITS” receives substantially more than a taxpayer earning $30,000 because taxpayers pay Federal, State and Local taxes and work expense while Welfare recipients get a free ride without related costs of working. Housing grants, food stamps, medical benefits, and other benefits must be paid for by the taxpayer worker who is “penalized” for working.
44.) The war on drugs has been lost forever. New drugs appear weekly. The only answer is to decriminalize street drugs but prosecute drug users only for tax evasion and non-payment of tax on sales, or being under the influence, similar to alcohol, when another transgression is committed while under the influence. Incarceration costs skyrocketed and are counter-productive while inhibiting law enforcement from pursuing real criminals.
45.) Drug users turn into sellers to support their habit and the only thing that inhibits them is to double prosecute users who commit another transgression, and deny welfare benefits to users and sellers alike. Drug testing is a criterion for jobs and must be for benefits also.
46.) Follow the money. Prosecute drug sellers by going after untaxed income based on assets apparently with no related visible income.
47.) Taxable Income Schedule For Individuals & Corporations After deducting personal exemptions $5,000 each, plus basic Standard Deduction of $10,000 plus cost of medical insurance paid, plus additional 5% on Income over $100,000; in lieu of itemization. Treat all income alike; Remove all income distinctions; earned; unearned; capital gains etc and remove ALL loopholes, personal and business.
48.) Taxable Income
Effective tax rate on Taxable Income of $100,000: 2.74%
Effective tax rate on Taxable Income of $1 Million: 7.47%
Effective tax rate on Taxable Income of $1 Billion: 19.88%
49.) Graduated Income Tax Table: Personal, Business, Corporate:
CORPORATE TAX PLAN:
50.) Corporate tax rates should be identical to the above modified Personal Taxable Income Schedule except for personal exemptions, personal itemized deductions, and standard deductions.
51.) Dividends paid would be deductible;
52.) Disallowance for funding or contributions to Foundations;
53.) Full deduction of fixed assets in lieu of depreciation;
54.) Disallowance of deduction for non-cash amortization;
55.) Prohibit deduction of political contributions and cost of lobbying;
56.) Disallow deductions for foreign payments and expenses;
57.) Subject Gross Contractor Pay and Cash Payrolls to 3% NST
58.) Tax foreign earnings for companies listed on U.S stock exchange;
59.) Eliminate tobacco subsidies;
60.) Eliminate farm subsidies for non-family farms;
61.) Eliminate all loopholes and industry specific deductions.
62.) Tax non-profits organizations at Corporate Tax rates and rules.
63.) Apply corporate tax regulations and requirements to political campaigns and related fund raising, including 1099 regulations.
64.) Tax political candidates for personal use of campaign funds.
65.) Tax candidates for unspent campaign funds as income;
66.) Disallow deduction of costs involved with facility closings; except termination pay.
67.) Subject Congress to all laws it passes, same as ordinary citizens.
68.) Eliminate political spending by organizations, unions, PACs etc.
SOCIAL & IMMIGRATION ISSUES:
69.) Make English the official language of the U.S.
70.) Require valid Social Security # and NOT Employer Identification Number (EIN) for all individuals on 1040 tax return. EIN s/b valid on business returns only; not to be used by individuals in lieu of SS#.
71.) Require illegal immigrants to provide or pay for their own interpreter.
72.) Require illegal immigrants to pay for past welfare services received to qualify for citizenship or work visas.
73.) Deport illegal immigrants who are guilty of a crime or felony in addition to the original crime of illegal entry.
74.) Deport illegal immigrants who vote or attempt to cast a vote.
75.) Deport illegal immigrants for failure to file tax returns or failure to pay wage income or sales taxes.
76.) Charge illegal immigrants for back taxes, tuition, and welfare benefits received or face deportation.
77.) In lieu of increasing retirement age from 65, increase co-pay percentage or increase Medicare charge an additional $100 per month for retirees and beneficiaries.
INDIRECT BENEFITS: NATIONAL SALES TAX & UNIFORM TAX RATES:
78.) Time, money, and effort saved from simplified tax preparation.
79.) IRS bureaucracy can be vastly reduced as a result of tax reporting simplification.
80.) Increased Standard Deduction along with elimination of all tax loopholes, corporate and personal, will reduce itemization and fraud.
81.) Low tax rates make it not worth the risk to cheat.
82.) With NO Exceptions on NST, Lobbyists will lose their clout and be out of business as regards NST and associated Universal Medicare.
83.) Most Primary Care Giver Physicians do not honor Medicaid but since ALL will be on acceptable Medicare, more medical options and providers are open to the entire public.
84.) Base Universal Medicare co-pay on the mandatory tax returns; the greater the income, the higher the co-pay, with a minimum co-pay of the greater of $10 or 4%.
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