Description: Thumbnail               Strength From Within

             FreedomIncomeTax.com

            Money Received x Tax Rate = Tax Payable

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

This income tax operates as a bank software program.
       It guts the tax code and levels the playing field.


Demonstration

Before debate on its merits, this software will first operate

only as "dry run" practice simulations that demonstrate:

          1.  The size of the tax base;

          2.  The tax rate needed; and

          3.  How this tax is calculated, collected, and

               precisely accounted for in real time.

These practice simulations will be perfected in one, then all banks.

Five Basics

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

       As money is received by taxpayers through the banking

       system this tax is calculated and collected in real time, with

       precise accounting to the taxpayer and the government.

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

        "money received, from whatever source derived".

          Bank software already accounts for "money received".

            Taxpayers now receive over $200 trillion per year.

            Check and electronic receipts total 98% of money received.

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

3.   The tax calculation is:

       (Money Received)  x  (Tax Rate)  =  (Tax Payable)

4.   The 1% tax rate:

       ($200 trillion) x (a 1% tax rate) = $2 trillion per year.

        Income tax revenue of $2 trillion is more than the tax code generates.

                               The tax on:     Will be:

                                   $10,000     $100

                                 $100,000     $1,000

                              $one million     $10,000

                               $one billion     $10 million

5.   This (flat tax base)  (flat tax rate)  =  tax predictability.

       This predictability shall be the hallmark of U.S. taxation.

       Legislation for any tax base exclusion, or any tax rate

       increase, shall require a 100% senate majority.

                 Freedom is our strength.  Freedom works.

                 RussellDucote@FreedomIncomeTax.com

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

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

          This presentation  Dated 8/15/2013: 288 words.