Wake Up America !
We have placed ourselves in a very dangerous place economically. We are out of step ideologically with the rest of the world with our “free” economy and “hard-core capitalism” yet we insist on being part of a global economy. As a result we have given up our “labor “ segment to the rest of the world, as if we were too privileged for manual labor. The result is massive unemployment and economic unbalance. History would tell us that this is a system that generates unrest, revolution, and agonizing adjustment.
Is there an adjustment to our thinking that would resolve some of our problems? I believe there is. It is a combination of two ideas put forth before separately and rejected. If packaged as a concept we could put our nation back to work. The two ideas are the “Flat Tax” on all manufactured goods which has been put forth often in recent years, and a new idea, which has been named the “employee tax credit rebate” which would financially encourage employers to hire taxpaying US citizens……
The flat tax does not need much clarification. It is simply a “National Sales Tax “ paid on every manufactured product sold in the USA regardless of its point of origin. For the initial discussion it could be 5%, and would exclude a food products and services.
The tax rebate idea is at present very simple. Every manufacturer paying a “flat tax” would receive a rebate for every employee who pays Federal income Tax. We would suggest a 100% rebate to encourage recovery from our unemployment problem.
The strongest incentive for these changes is the current status of our “broken” tax system which is horrendously expensive to implement and virtually impossible to control. We spend billions of dollars monitoring and collecting taxes that is both unnecessary and ineffective. It is simply broken and needs to be discarded.