Subject: True 21st Century Revenue Technology Comment: With today's computer technologies and the use of digital forms of credit and money there is no longer any need to tax anyone directly such as the income or property types of taxes. These incredibly inefficient and destructive forms of taxation are diminishing our national economy and standard of living by an estimated 600 billion dollars per year due to compliance costs and investment distortions in the economy as well as disicentives to small business startups by individuals. The fantastic alternative available involves abolishing all forms of direct/income and property type taxes and implementing taxes on the creation of credit and taxing financial transactions carried on in all banking institutions. After all, that's where the money is! It is essential that all taxes be both automatic and anonymous in their function, to promote privacy and simplicity of operation. In addition the Federal and State governments will be given the power to create credit directly and lend it to citizens at low interest rates for business, housing medical and educational purposes etc. They will in addition have the the power to create money for the purpose of employing people for the purpose of rebuilding and improving the nations infrastruture and for biling highspeed commuter transportation systems throughout the country in all urban and other areas where demand is sufficent to justify such projects. The associated costs of borrowing to finance goverment debt will be thus eliminated. A new and prosperous future for our nation is possible and to other nations that follow our progress. Vision, courage, and willingness to forsake the mistakes our past destructive tax schemes is all we need to proceed and heal ourselves and our national economy. Poverty need not be by design as our present tax system ensures. Good luck and remember to look beyond the unimaginative tax scheme alternatives being promoted by the entrenced special interest groups both public and private. They do not represent the good of the people and only encourage further hindrances to the progress of our nation and civalization in general. For reference to what is possible, research information about Island of Guernsey Public Finance history and results of their economic experiment with Government created credit. Its effectiveness has already been demonstrated for over 75 years. Good Luck |