Department of the Treasury

flat taxes and buy bonds on gross earnings

Federal Tax - For people making between $0 – $1M, pay 5% of the gross earnings for every paycheck we get directly to the Federal government. Also, buy (about) 5% of the gross earnings in Treasury Bonds, not redeemable for 5 years. This will be our “rainy day” fund to pay for natural disasters, to pay for wars, to pay for energy/ education/ infrastructure/ humanitarian services, to pay for reducing the National Debt, etc.

For people making between $1M - $1B, pay 15% of the gross earnings for every paycheck we get directly to the Federal government. Also, buy (about) 15% of the gross earnings in Treasury Bonds, not redeemable for 5 years.

For people making between $1B or more, pay 25% of the gross earnings for every paycheck we get directly to the Federal government. Also, buy (about) 25% of the gross earnings in Treasury Bonds, not redeemable for 5 years.

 

State Tax (NEGOTIABLE)

$0 - $1M, pay 1% of gross to state government, buy 1% in state bonds, not redeemable for 5 years. This will be our state “rainy day” fund to pay for natural disasters, to pay for energy/education/infrastructure/public safety/ community serv/humanitarian services/charities, etc.

$1M - $1B, pay 3% of gross to state government, buy 3% in state bonds, not redeemable for 5 years.

$1B or more, pay 5% of gross to state government, buy 5% in state bonds, not redeemable for 5 years.

 

Corporate/Small Business Federal Taxes (based on the number of people they employ) (NEGOTIABLE) 0 – 1K employees, pay 3% of gross revenue to the Federal government and the State government. 1K – 50K employees, pay 1% of gross revenue to the Federal government and 1% of gross revenue to the State government. (Optimal company size?) 50K – 1M employees, pay 3% of gross revenue to the Federal government and the State government. (Okay company size?) 1M or more employees, pay 5% of gross revenue to the Federal government and 5% of gross revenue to the State government. (Too big to fail Company size?)

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Idea No. 6794