Beruflich Dokumente
Kultur Dokumente
- American's working for a company will never have to file a tax return again. No more fear that the deductions they took were not legal, no more fear of a
- The current tax system applies to business income and investment income (capital gains) but at the new rates. Until the new leaders can simplify
- It will free up 100k of IRS agents to go find all the fraud and waste in the government programs including themselves. Just can't terminate them and caus
- 10's of Billions of hard earned taxpayer money would not be refunded to people who are not EVEN ENTITLED TO IT.
- 10's of Billions of hard earned taxpayer money would not be paid to dead people in social security benefits.
- You think new fraud will pop up from the small companies who will collect taxes and not remit payment to the Government?
- The U.S. government knows about every company in business. Not hard to figure who didn't pay. Just need to actually do their job!!!, Politicians d
- Now that only Company tax returns are being filed, there will be 100k of agents freed up to find them.
- Don't think reviewing Social Security payments will take long. The U.S. knows everyone born, everyone who died, and everyone who has a social s
-- Math calculations. We have 300 million people, if everyone were collecting social security, here is how long it would take to verify pa
-- Lets say we are so screwed up. It takes an agent, 2 hours to figure one out
300,000,000 People
100,000 Agents
3000 per agent
4 per day for an agent
-- Based on the math, it will take about 3 years. Since only around 100,000,000 are actually receiving it, that time is cut to 1 year
-- So the IRS agents are employed for the first year of the new law, and start their new job with the next year tax returns. Through attri
to permanently cut 60-80% of the IRS force.
-- More people will be working under the table, good theory, but everyone has a social security number, RED FLAG for the government.
- Checks and Balances, since the current system does not work!!!! Giving responsibility back to Americans!!!, I could never get elected president, that is to
if the politicians read this. If I actually started to have a chance to win.
- The employee - Needs to keep up with the Social Security earning report. Most just throw it away, but you need to make sure that your company
- The government keeps on top of Social Security benefits verification. Something like this - The recipients go to a government office and re-verify
it will not take long. There are millions and millions of workers in federal/state offices throughout the US. Just need to get our pride back and make
is a major problem in government spending.
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no more fear of an audit, no more fear of the IRS putting a lien on them, etc.....
ers can simplify them.
750 Days
ut to 1 year
s. Through attrition you will be able
he government.
t your company is reporting your earnings, that is how the benefit is paid out.
ce and re-verify once a year. If they are incapable, then the gov't will goto you.
back and make us the MOST SOLVENT NATION again. Fraud
Page 2
http://www.usgovernmentspending.com/
http://www.google.com/publicdata/
Taxable Income (Wages)
See Tax Calculations
Wage figures
http://www.bls.gov/oes/current/oes_nat.htm#00-0000
Tax Revenue
http://www.usgovernmentrevenue.com/downchart_gr.php?chart=F0-fed
2008 IRS Data
http://www.irs.gov/taxstats/indtaxstats/article/0,,id=133414,00.html#_complete
5,605,365,012,500 Total Taxable Income
448,429,201,000
8.00% Social Security Tax, no tax on the first 25K
672,096,988,810
10.00% Income Tax Effective Rate, no tax on first 25k,(see tax calc), based on 2008 IRS data that was close to the 2010 income figures.
1,120,526,189,810 Tax Revenue Employee
448,429,201,000
8.00% Social Security Tax (Employers Matching)
4,484,838,822,690 Disposable Income (Income - Taxes) really around 7 trillion because of the 25k exemption has to be added back.
2,242,419,411,345 NON TAXABLE
2,242,419,411,345 Disposable income after taxes/housing (because they are not taxed)
1,121,209,705,673 50% of disposable income saved, in reality we probably have 5-10%
112,120,970,567 10% National Sales Tax (number will be a lot higher due to the non reporting tax payers, they still have to buy things.)
Business tax
Business receipts as of 2007 per IRS web site
29,388,832,943,000
2,938,883,294,300
10% Gross Margin before taxes
293,888,329,430
10% Corporate Tax, leaving the company 9% GM after taxes, which is fair, a company needs to make that to be in business
Other taxes
132,900,000,000 Ad Valorem Tax
139,600,000,000 Other Revenue (Federal Deposits, Unemployment insurance, Railroad taxes.)
0 10% Capital Gains Tax (will be used to pay down the debt). Cannot be a fixed stream of revenue, gains are not always there.
Total taxes (Items in red)
15.06%
$14,927,120,000,000.00 GDP Currently
2,247,464,690,807 % of GDP
First law to pass, new tax code with this stipulation. NO MATTER WHAT, SPENDING IS CAPPED AT 15% of GDP UNTIL THE DEBT IS PAID OFF!!!!!!!!!!!, can be done in 8-12 years.....
Very conservative numbers used, if you go to the google site above (GDP&Personal Income link), you will see the US wages for 2010 at 7.9 Trillion. That is only reported wages!!!
Once the debt is paid off and we have a 2 year surplus for Disasters/Wars/BAD LUCK. Personal income tax rate goes down equally per bracket to bring us back to the 15% of GDP level.
Short fall fail safe kicks in if all revenues collected are less than 15% of GDP. That will be a major problem if that ever has to be implemented. It will never be implemented for other things!!
Tax Calc
2008 Figures from the IRS
Taxable income
Size of adjusted gross income
All returns
Number of
returns
(1)
Amount in 000's
(2)
Tax Revenue
All returns
x Tax rate
x income
(3)
142,450,569
107,994,637
5,652,925,474
2,489,989
$1 under $5,000
11,638,707
720,341
817,956
12,139,638
3,252,272
5,484,255
11,702,056
6,155,465
23,111,770
11,076,002
7,623,186
50,039,575
9,866,247
8,360,339
77,438,979
8,743,581
8,078,487
104,419,992
14,554,280
14,031,759
263,132,647
11,087,123
10,880,515
289,669,727
19,196,461
19,044,060
748,729,452
11,729,485
11,672,561
688,222,430
13,851,341
13,815,858
1,340,890,194
3,476,747
3,466,132
790,018,422
577,618
574,638
332,577,165
140,635
139,649
146,685,193
59,460
59,064
88,993,612
86,329
85,673
225,389,176
21,390
21,237
129,065,855
$10,000,000 or more
13,480
13,402
348,239,073
90,660,104
90,625,862
5,487,574,374
$15,000,000,000,000
$0
$1
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$40,000
$50,000
$75,000
$100,000
$200,000
$500,000
$1,000,000
$1,500,000
$2,000,000
$5,000,000
$10,000,000
$7,000
$12,500
$17,500
$22,500
$27,500
$35,000
$45,000
$62,500
$87,500
$140,000
$280,000
$700,000
$1,400,000
$2,100,000
$2,800,000
$7,000,000
###
GDP
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0.0%
0.0%
0.0%
0.0%
0.0%
10.0%
10.0%
11.0%
12.0%
13.0%
14.0%
15.0%
16.0%
17.0%
18.0%
19.0%
20.0%
21.0%
22.0%
$0
$0
$0
$0
$0
$0
$2,500
$10,000
$20,000
$37,500
$62,500
$115,000
$255,000
$675,000
$1,375,000
$2,075,000
$2,775,000
$6,975,000
###
$0
$0
$0
$0
$0
$0
$250
$1,100
$2,400
$3,700
$7,200
$10,950
$26,950
$77,950
$167,950
$262,950
$362,950
$992,950
###
0.00%
$0
1.00%
$2,185,895,250
3.67% $16,009,708,000
6.00% $26,609,095,200
7.40% $71,026,905,700
9.60% $84,452,292,000
### $151,672,183,950
### $93,698,331,650
### $45,025,323,100
### $23,619,648,250
### $15,635,007,000
### $31,333,110,550
### $21,239,200,500
### $28,212,966,000
###
% of GDP
4.071%
Tax Calc
1.00%
Short Fall
What needs to be
done if revenue
is not 15% GDP
Fail
Safe
Effective
Tax Rate
$0
$0
$0
$0
$0
$0
$2,185,895,250
$4,366,284,000
$4,434,849,200
$9,598,230,500
$8,797,113,750
$13,851,341,000
$6,953,494,000
$2,888,090,000
$1,406,350,000
$891,900,000
$1,726,580,000
$1,069,500,000
$1,348,000,000
$59,517,627,700
Exemption for 25K
Wages needed to be
Double Check
Total
Compensation
Income +40%
bracket x all
returns
#DIV/0!
$0
0.00%
$0
0.00%
$0
0.00%
$0
0.00%
$0
0.00%
$0
2.00%
$21,858,952,500
4.67% $145,542,800,000
7.00% $221,742,460,000
8.40% $719,867,287,500
10.60% $733,092,812,500
11.95% $1,592,904,215,000
14.48% $886,570,485,000
16.59% $389,892,150,000
17.80% $193,373,125,000
18.53% $123,379,500,000
19.15% $239,562,975,000
20.86% $149,195,250,000
21.93% $188,383,000,000
###
###
earned
###
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