Let’s make it simple, let’s make sense

Mar 312009
 

With all the shenanigans of governments let’s do one simple thing.
Let us simplify a big aspect of people’s lives.

A flat tax must be introduced in the USA and UK and for my benefit ( ! ) in Greece.

The excessive costs, bureaucracy, angst, agony and time consuming nonsense that has to be born by every individual, certainly every money earner – of interpreting and complying with tax rules and regulations, concessions, allowances, exemptions, exclusions is a waste and it is unnecessary.

One exemption begets an imbalance in the economy which begets a plea for another exemption or special treatment which begets another special treatment or exemption.

A 10-15% tax on all income over a minimum livable level (that of course has to be argued over, debated, defined and decided upon). That’s it, that simple.

No vested interest concessions, no fooling around… a simple let people get on with their lives and do better things idea whose time has come. whose time is now.

The complexity and conflicting, confusing tax structures must go, only a lunatic could have created this monster with endlessly growing matrix, maze and tentacles. A very warped lunatic (sic!).

Why oh why do we all put up with it.

Now – when money itself seems to be at risk of risk of….

Flat Tax, freedom and prosperity built on a solid foundation.

It IS possible.

Say yes to it. embrace it, push it, welcome it and get on with your life – once and for all unfettered by the rising damp, the rot-setting-in nature of politically motivated tax manipulation.

Flat Tax – if you care.

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Timothy Geithner – to be Treasury Secretary ?

Jan 222009
 

Yes.
If you think Timothy Geithner has the right stuff for the job as Treasury Secretary – say yes to his nomination on the condition that he simplifies the US tax code. After all he would have NO excuse for his mistake on his tax return if things were simple – as they should be.

What has not been raised is the obvious. The tax code is laughably (if we can laugh about taxes) complex, if created from scratch to be in its current form only a lunatic could be responsible for such ridiculousness.

Cut out the crap…simplify.

A flat tax. A simple minimum amount anyone can earn without paying any tax on their initial income, then 12% (or similar suitable figure) on everything excluding obvious work expense or business deductions.

The result will be simplicity, a gain in revenue raised (this has happened every time a flat tax at a low rate has been tried), a vast increase in man-hours available for work more productive than for the calculation of taxes, a massive increase in incentive to work, to create, to start new businesses, to invest.

The number of tax officials and tax employees needed would fall, releasing them to more productive and creative employment, costs in paying tax advisers and tax attorneys would almost disappear and this would be a major contribution to national prosperity, to inspiration and enterprise.

So whether Timothy Geithner is confirmed or not – let’s understand this lesson and get some benefit from his error. Progress!

It’s simple…simplify!

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Now Dollar, Now Pound

Jan 112008
 

A thought pops to mind (more than that really, but here goes…).

Now the pound sterling is weakening and the UK economy is showing shaky signs of an overblown whale near sharp rocks, the poor dollar may soon return to its currency-of-the-world status.

The dollar has probably never lost that status amongst those responsible for the biggest money movements, trades, switches and flips around the world. The constant flow of dollar-impoverishing news has just been adding enough fuel to the prevailing winds of a dollar economy (USA) with many cyclical and bubble-formed weaknesses, to keep it in the discount bin at the money supermarkets.

This is very likely to change.

When and why?

If the UK pound sterling continues to show weakness (there are definitely some serious rusting/leaking/structure-failing/wishful-thinking of past years, ingredients which may show up soon, adding to the “”hanging-on-to-the-end-of-a-rope”” housing market…commercial property to follow soon) this will avert some fixed gazes from the US dollar to the pound, relieving or diffusing some of the dollar negativity.

But this alone will not change everything. There are always many wild cards, many unlikely or unpredicted events that could add to or subtract from this direction.

The big change would happen if the old Euro zone countries start to be seen as weak, as suffering from the same maladies or similar-in-effect ones, as the USA and the UK.

In the end the USA has the currency of world trade, has a monumental and dynamic enterprise-fuelled economy with less snuffing-out bureaucracy than all the old European economies And Europe is not isolated by some magic economic airbag, no country is nor are any group of countries.

So if Euro-using countries get some bad press as they one-by-one appear to have problems, if this happens, we then have the UK pound and the Euro looking bad….well, that alone is a huge image-inflating boost for – in contrast – the, yes, US dollar.

A thought.

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Flat as a pancake – fiscal sense

May 032005
 

Let the lead taken by several east Europe countries and Russia be followed by the USA and UK.
A flat tax makes perfect sense morally and in terms of economics.

Just like artificial distorters of life – common agricultural policy being one example – it is time to put fairness and honesty, freedom and justice to the fore.

A flat tax would only be vehemently opposed by a few vested interests who have no right to earn what they do out of the ridiculously elaborate, costly, complex, energy and intellect-wasting tax regimes in most countires of the world. No right because their ride so far is fine , but it is not a right to have your government put in place such a complexc scheme of taxation that the very exixtence of it creates jobs, whether in the public (tax offices?) sector or tax attorneys and planners in the private sector.

A flat tax must be set at a very low rate – it needs to be below 20% and preferably in the teens to provide that \””compliance incentive\”” which will reduc eht enormous costs of enforcing taxation compliance and payment of tax.

The boost to enterprise, the worthwhile-ness of hiring (cretaing jobs) the worthwqhile-ness of working , being an entrepreneur, taking chances and moving forward – all will benefit.

Clearly in examples set by countries which have adopted the flat tax system actual tax revenue should increase in short order.
Productivity gains in the hours saved by the general population not having to spend days in tax form preparation and possibly, in not devising ways to avoid paying tax at all will be substantial.

No reason or excuse whould prevent this move forward – part of a general move which must be a new current towards fairness, liberty and justice worldwide.

OK America and Great Britain – do it now and let countries such a s Greece and Italy follow and then let the good times (flat tax) roll worldwide. Start!

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