Nobody’s Fool: Tom Beebe

Nobody’s Fool: Tom Beebe

When I first started blogging…in 2000, I started this idea about having a website where ordinary citizens could post their ideas. Being ignorant about the cost of starting a “website” and how much money it costs, I ended up just blogging under the NOBODY logo’s. I wanted to have different sections: One where all nobodies everywhere could post their ideas about our country, our society, and their own experiences.

It seemed to me then, and still does, that the ordinary person, doesn’t get his ideas out in to the public domain. The internet has changed that somewhat, but the mainstream media is controlled by the government and their sponsors. Imagine if regular working (or unemployed) Americans from all over the country had their own television show, where they could give their ideas a go, which was NOT controlled by any station?

We won’t see that in my lifetime. Everything is controlled.

Someday, perhaps, I could start a website like this up, so until then, I will present some of your ideas whenever you like…like now.

Tom Beebe is one of those “nobodies” who has a lot of ideas on how to fix our TAX system.

 Here it is: Give it a read, it’s pretty good. And…Tom requests feedback on his idea…I personally know a few of you out there have financial minds: Amfortas, Pattie? Give Tom’s idea a read and please comment!

 Tom Beebe’s Tax reform:

The federal government shall collect no taxes other than provided in this act and make no payment except in return for goods or services rendered to it, or as provided for in this act. There shall be no federal tax any business.

 All persons shall come together in households to report all income and to receive federal benefits. They need not be related, need not reside together, and a household may consist of as few as one person.

 Each year congress shall set a “minimum wage” and a “tax rate”, which in turn will be applied to the previous year’s reported incomes to determine the budget of the government.

 The following income shall be exempt from taxation:

 An amount equal to a year’s earnings at the minimum wage rate, for adults (age 20-65), decreasing 10% per year to 50% at age 15, and increasing 10% per year to 150% at age 70.

Payments for necessary health care including pharmaceuticals prescribed by a recognized health care professional, and vision and hearing aids. Health care insurance premiums may be deducted but not health care expense paid for by such insurance.

Educational expense including day care, that portion of state and local taxes identified as spent on education, that portion of parochial school expenses identified as going for non-sectarian education, and private school education at any level.

 Income saved into an account from which investments may be made. All withdrawals from this account for the benefit of any member of the household are taxable.Withdrawals that are not for a members’ benefit are exempt from taxation.

The “tax rate” shall be applied to any income over and above the deductions listed above, regardless of amount. When deductions exceed income, the government shall make payment to the household equal to the tax rate times the deficiency.

 

September 13, 2012 - Posted by Joyanna Adams | taxes, Uncategorized | Economy, tax reform