A Payments Tax Opens the Door to a New American Dream
If we were to implement the below programs when taxing income, someone earning $100,000 would have to pay over $76,000 in taxes.
With a Payments Tax, however, someone earning $100,000 would only pay $180, and look at the benefits they'd receive!
A Basic Income
There's been a lot of talk about providing everyone with a Basic Income, but as long as we tax income it's an impossibility. With a Payments Tax a Basic Income of $24,000 per year for every adult citizen, regardless of financial status, could be a reality.
Today's student loan program is leaving millions of students with crippling debt. The easy credit of student loans has made the price of college skyrocket. The Challenge Program is the best way to bring the cost of college under control. A Payment Tax could provide free tuition for every college student.
A Payments Tax would permit everyone in the U.S. to receive basic healthcare for free. Under the AMA program, you control your own destiny, not an insurance company or the government. You use your benefit to pay for the healthcare you want.
Social Security is sliding into bankruptcy. If we stay with the current system, we'll either have to cuts benefits or increase FICA taxes soon. A Payments Tax could fund higher benefits than the current Social Security system does, and at a lower cost to you than our current FICA tax system.