Saturday, October 29, 2016

My New Tax Plan


I have changed my ideas on taxes to where I believe people should start paying taxes after making $50,000 annually ($25 an hour). I also believe it should be a flat tax system of 15% for all individuals, businesses, and entities. Individuals, businesses, and entities can also have the ability to donate more money to the government if they'd like or contribute to a specific program or cause (this is completely optional and there only for personal convenience). This process is as simple as writing and mailing a check, filing electronically, or even paying the tax amount at a post office. Modern systems should be convenient, simple, stress-free, non-intimidating (no feeling of personal risk as if being subjected to an audit), and fully understandable. If one doesn't pay taxes then the 15% tax will follow the individual and carry over to the next year. If for some reason they don't pay taxes, then they can file a card of reasoning by mail, call over the phone, or talk to a federal tax advisor and talk about their reason which could lead to nullify paying future taxes until they make more than $50,000 annually again (this will be important that they do so; however, if discovered the individual was lying, they can be subject to tax fraud). If the individual refuses to pay taxes and reaches up to $50,000 dollars in tax accumulation, then a federal agency will send the individual a letter and a series of phone calls will be made requesting them to show up at one of their federal tax locations. There they will interview the person and find out why they didn't file taxes and try and provide with a way to consolidate paying these taxes. If three to six months goes by and they still refuse payment, then they will be charged with tax evasion. If they never answer the call after letting taxes accumulate to $50,000 after one to three months, then they can be charged with tax evasion and at that point an officer will go to their home and politely ask them that he or she is to be escorted to the police station where there will be a process of trial and prosecution. Not paying taxes is a simple matter of extreme negligence and does not harm the average law abiding citizen. I would also assume after making $50,000 annually an individual has tremendous financial flexibility to cover 15% in taxes. In times of financial instability such as war, I think it may be a good idea that taxes can jump to higher levels than 15%  to perhaps about 30% or 45% max and also lower from the annual threshold from $50,000 a year to $30,000 a year min. However, it should only be made in strict, extreme, and desperate circumstances that the annual threshold and tax percent can be raised and lowered. It should also be declared that under strict and extreme circumstances, the annual threshold should not go lower than $30,000 and the tax percentage should never raise higher than 45%. It should also be in hopes that the annual threshold should never have to change from its $50,000 standard threshold. To initialize such tax changes during such dire circumstances, changes will be appointed by the beginning of a conflict (meaning war) date to the end of the conflict date,  and will stop immediately under the scrutiny of political corruption. The tax system will resume after corruptions are sought out completely. This would be my own and what I believe is a more reasonable and functional tax plan.

No comments:

Post a Comment