ii iv viii	Merry Christmas and Happy New Year NEW - In 2016 the 2-4-8 Tax Blend will become 2-4-8 Tax Choice The "choice" would allow all taxpayers to choose an income tax rate between 8% and 28% paired with a net wealth tax rate of 2% going down to zero. Wealth taxes paid would reduce Estate and Gift taxes (also set at 28%). This would encourage wealthy individuals to pay some net wealth taxes as a form of inexpensive life insurance.	Wealth 0% 0.5% 1% 1.5% 2%	Income 28% 23% 18% 13% 8%
		Business C - Corp	4% VAT 8% Income

... America has what is arguably the world’s most complex tax code. The federal code plus IRS rulings is now 70,000 pages long. The code itself is 16,000 pages. ... You have to understand, complexity equals corruption. . The U.S. tax system is not simply corrupt, it is corrupt in a deceptive manner that has degraded the entire system of American government. Congress is able to funnel vast sums of money in perpetuity to its favored funders through the tax code without anyone realizing it.

2-4-8 Response

Zakaria is, "in favor of almost any new tax code that fulfils one requirement: It should fit on two pages". The 2-4-8 Tax Blend with the same rates for rich and poor meets the test.

For the first time in history we have the technology which can fairly and easily tax net wealth, raise more tax revenue and jump start the economy. While a 5% individual net wealth tax could replace current revenue, a modest 2% wealth tax combined with an 8% income tax would produce the same revenue and permit workers to take home 92% of their income – (real consumer power). Rich and poor would pay the same rates for the fairest system on the planet.

Business tax reform is also needed to shift the economy into high gear and to raise some additional revenue. A 4% tax on $10 trillion in sales would yield another $0.4 trillion in revenue and permit a reduction of the corporate income tax rate to 8% (with no loopholes).

Capital gains, estate and gift taxes would not be necessary. Qualified retirement funds would retain a tax exemption until withdrawn so that seniors could preserve a modest retirement.

 

 

	Spread the word: Please let Congress know you want them to consider the 2-4-8 Tax Blend by simply tweeting "TaxNetWealth.com" or by copying any basic description and sending, faxing, or emailing it to at least one representative from each political party. Many representatives will only accept email through their individual websites.

Copyright 1985 to 2015 by Eugene Patrick Devany