If I Were in Charge for the Day...

Sherrill Fulghum By Sherrill Fulghum, 30th Jun 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/3ka-ou-_/
Posted in Wikinut>Writing>Columns & Opinions

With all the posturing by presidential candidates on how they would run the country; I figured that my thoughts are as good as theirs. Here's my if I were in charge for a day idea...

What if...

Every time election season draws near all of the candidates pontificate of how to best cure all that ails the nation. There are times when one wonders just how much thought the candidate...or his minions...put into actually solving the issue at hand; or whether he or she is spouting off at the mouth just to elicit votes.

The national income tax system is always a popular topic and how best to fix income taxes, the IRS – Internal Revenue Service -, and thus fix the economy and balance the budget.

One of the latest of said candidates is Rand Paul who has put his name in the hat to become the Republican presidential candidate. Paul claims that he is going to turn the tax system on its head with a “fair and flat tax” that would result in a $2 trillion tax cut over the next 10 years.

It seems that with the massive debt the United States has amassed that more taxes are needed not less. Saying that the current tax system is broken and cannot be fixed, Paul proposes to start over with an across the board 14.5 percent income tax for personal and business income taxes. Paul's proposal would also eliminate payroll taxes, taxes on gifts, estate taxes, telephone taxes, elimination of all duties and tarriffs, eliminating corporate tax subsidies, personal tax deduction – except mortgage interest -, and all charitable donations.

Republican candidate Ted Cruz is proposing to eliminate the IRS altogether; but has not offered any details on what or how to replace them.

Florida Senator Marco Rubio and Republican presidential candidate proposes tax cuts that favours the richest American citizens. He also suggests that there be two tax levels – 15% for those making less than $75,000 for singles and $150,000 for a family and 35% for everyone else.

I, myself, do not begin to claim that I understand the intricacies of economics or the current US tax system. Nor am I running for any political office – I shy away from politics every chance I get.

But that being said, I have an idea when it comes to taxes that would simplify matters and be fair to all...

...In the hypothetical if I ran the world/country/government for a day scenario...

I would eliminate all the current taxes and replace it with a national sales tax of 10% - everything would be taxable and everyone would pay the tax on what they bought – from the lone single person to the biggest corporation...NO EXCEPTIONS!!!!

So how would the governments get their operating money...
5% of the tax would go to the federal government to run the country
3% of the tax would go to the state
1% would go to the county
and 1% would go to the city/town/village/etc.

With the corporate welfare being eliminated – because there would be no more tax breaks – there would be plenty of money to run the country, pay down the debt, and make sure that programs like Social Security were funded.

Of course, the top 1% of the population that makes tons of money would scream bloody murder how the tax system was unfair because they would be paying the bulk of the taxes, but it would be fair for all since they would also be the ones buying the big ticket items that would carry the most sales tax.

The Republican presidential candidates talk of helping the economy be putting more money in the hands of the poor and middle class...well, if the only tax they had to pay was the national sales tax and not taxes on top of taxes like we do now, then there would be some money in their pockets to buy necessities and maybe even have a little left over for other things.

Since I am not an economist, I could not begin to crunch any numbers to determine how much would be saved/spent or what it would generate for the governments, but it is an idea that is at least as plausible as some of the ones the “smart” Congressional members are throwing around as they vie for those precious presidential votes.

Oh, and one more thing that would save the federal government a big chunk of change is to make a drastic cut in the money Congress gets paid...and add term limits to help eliminate the career politicians whose only interest is lining their pockets with taxpayer money.

Tags

Congress, Federal Government, Hypothetically Speaking, If I Ran The Country, Irs, Paying Taxes, Presidential Candidates, Tax System

Meet the author

author avatar Sherrill Fulghum
Sherrill is an award winning journalist with a speciality in music and entertainment. She is also a photographer.

Sherril is a writer for thedailyvoice news.com

Share this page

moderator Peter B. Giblett moderated this page.
If you have any complaints about this content, please let us know

Comments

author avatar brendamarie
30th Jun 2015 (#)

I'd vote for you

Reply to this comment

author avatar Sherrill Fulghum
30th Jun 2015 (#)

Thank you.
I have to agree with Tom Clancy in his book "Executive Decision" that what we need in Washington is more real people and fewer politicians.

Reply to this comment

author avatar Sivaramakrishnan A
1st Jul 2015 (#)

There are always straight forward ways to tackle issues and to live our lives.

If you cannot convince them, confuse them - is the motto of politicians to get elected.Their tune changes once they are in power and they distract the common citizens with one outside issue after another. Their agenda based on which they were elected is soon in the back burner!

We should simplify tax incidence and a fair way is to tax when we spend. We should work towards an inclusive society - siva

Reply to this comment

Add a comment
Username
Can't login?
Password