Savvy Trades and Investments

[bbotcs]

Income tax--I am putting this out there. Abolish the personal income tax for individuals whose income is under a threshold, say $5M, and increase the tax burden on corporations and businesses. FICA tax would remain.

It would raise the cost of production for all businesses, which could be passed on to the consumer, in effect creating a national sales tax.

The tax on business would be at a fixed percent with ZERO deductions--a flat tax.

Congress would have to pass a balanced budget resolution. In years in which there is an excess, it could be passed on to citizens.

The current system is corrupt and insane. It encourages lying and cheating. Duh.

States could still have a personal income tax.

Further, the Government would create a special currency for the Social Security and Medicare funds that would be inviolate. Congress would not borrow from the fund. At retirement (or disability), claimants would be paid in this currency, which obviously would have a higher value than the U.S. dollar because it would be BACKED BY GOLD AND SILVER.