FreedomIncomeTax

            Money Received x Tax Rate = Tax Payable

            (flat tax base)  x  (flat tax rate) = tax certainty

                                           The Income Tax Restructured

 Demonstration

 First, we get to see how this tax will work.

 This paperless tax operates as a bank software app.

 Prior to formal debate, this software app will demonstrate

 practice simulations that will show us:

          1.  How this tax is to be collected in real time

               and accounted for on typical bank statements,

          2.  The size of the tax base, and

          3.  The tax rate needed to equal tax code revenue.

                These software practice simulations can be rehearsed

                    through one bank, then all banks, at very low cost.

Basics

1.   The tax calculation is:

          Money Received  x  Tax Rate  =  Tax Payable

2.   There is no filing, no reporting, and no paperwork.

       Bank software collects this tax in real time as money

       transfers through the banking system;  with precise

       accounting to both the taxpayer and the government.

3.   Taxable income, the tax base, is defined as:

        "money received, from whatever source derived".

       Precisely accounted for by bank software,

         taxpayers receive over $200 trillion annually.

             Check and electronic receipts total 98% of money received.

             Cash receipts, most being quickly deposited, total 2%.

4.   The tax rate is less than 1%.

       A $200 trillion tax base x a tax rate of .007 = $1.4 trillion,

       the same amount as generated by the tax code in 2009.

                  $       10,000  x  .007  =  $       70

                  $     100,000  x  .007  =  $     700

                  $  1,000,000  x  .007  =  $  7,000

                  $ one billion  x  .007  =  $ 7 million

5.   This (flat tax base)  x  (flat tax rate)  =  tax certainty.

       Legislation for any tax base exclusion, or any

       tax rate increase, shall require a 100% senate majority.

                 Freedom is our strength.  Freedom works.

                   by RussellDucote@FreedomIncomeTax.com

          demonstration:   copyright  number/date TXu000864956/ 1998-07-17 USP&TO

          basics:                  copyright number/date TXu000858392/1998-06-05  USP&TO

          this presentation:  303 words- dated 11/03/2011 recorded Lafayette Parish LA