I know the Republicans put a lot of effort and expertise into the 2017 Tax Reform bill. However, I have zero experience and barely understand basic economic concepts. And yet, I’m pretty sure my tax plan is even better.
Here is the basic idea: everyone pays a progressive percentage based on their income level. But instead of the government allocating those tax dollars, the individual paying gets to decide. On everyone’s tax form will be a list of expenses: military, domestic policing, fire department, education, roads, social services, etc, next to which will be an empty box. You divide up your own taxes by percentage. Maybe you want 100% of your taxes to go towards military one year. Maybe you want it all to go towards women’s health services. Maybe you want to divide it equally among all categories. Whatever. You decide.
The system would have fairly good feedback, because as needs arise, you can allocate your tax dollars differently each year. So if your roads are getting rough and bumpy, you can put more of your money in that category the next tax year.
I’ve been thinking this idea over on and off for several years, for a total of upwards of 7 hours, give or take. So I think it is solid and implementable. Best of all, I think Democrats, Republicans, Greens, Independents will all get on board because everybody gets what they want.
The only detail I don’t have locked down yet is the name. What should this tax plan be called?