Tax reform is
desperately needed. Congress has allowed the IRS to fill the tax code with over
75,000 pages of loopholes for the “players who pay.” Politicians have proposed
the fair tax and the flat tax reform. These are good ideas, but the only
problem is the politicians. We the People cannot trust the politicians to
reform the tax laws so that they are “fair” or “flat.”
Let me propose a THE ONE PERCENT TAX REFORM. It is based on two principles: The first
principle is that Congress must balance the budget and pay off the national
debt. A constitutional amendment must be
added to the Constitution that states that Congress must live within the
budget. If they don’t balance the budget and pay off the national debt, then
they must forfeit 20% of their pay, the expense accounts, and benefits for each
year they don’t.
My FED-UP article
explains this. We the People must demand
politicians pass this amendment. Without a balanced budget amendment
politicians will continue to promise reforms only to raise taxes.
The “Penney Plan”
proposes to balance the budget within a decade.
If Congress would make that a “Two-Cent Plan” and use one cent to
balance the budget and one cent to pay down the debt, then the debt could be
paid off within 20 years. The only
hindrance to the Penny Plan is politicians!!!
The second principle is
that every person and every company should pay a fair and reasonable tax.
To meet this demand, all loopholes must be closed. There should be no tax exemptions. NONE!
