1040 Taxes Could Be Replaced by One-Cent Fees! - E-book - ePub

1040 culture-like it or not-exists because the United States government taxes personal income to raise trillions to fund the federal treasury. This amount will undoubtedly increase in the future-but so will American commerce and the GDP. The focus of this book will be how we can raise 3.5 or 5.0 or 6 trillion dollars efficiently and accurately while eliminating the unwieldy 1040 tax return process.
The TFP plan, basically, is to "automatically" assess a 1 cent fee (.01 dollar) on all trackable transactions in the US (or related international transactions using American financial institutions). Say good bye to tax preparation, deductions, refunds, credits-this will be a pay-as-you-go system. Tax audits and tax-related stress will become history.