And since national debt is the result of imbalances between taxes collected and taxes spent, and could be paid down to zero and retired if so desired, the first step to “solve” the national debt “problem” is admitting that we don’t actually have a national debt problem, we have a political problem...
A review of the “FairTax” Act that calls for the repeal of Federal Income, Payroll, Business, Capital Gains, Estate Taxes, and even the 16th Amendment of the Constitution to impose a temporary 23% National Sales. From increased tax fraud to pitting families against businesses, this video reviews ten reasons the “FairTax” Act fails us. Sources:
“FairTax” Act: https://www.congress.gov/bill/118th-congress/house-bill/25
IRS Tax Gap Reports: https://www.irs.gov/newsroom/the-tax-gap IRS Estate Tax SOI: https://www.irs.gov/statistics/soi-tax-stats-estate-gift-and-trust-statistics
FED Wealth Inequality: https://www.stlouisfed.org/open-vault/2019/august/wealth-inequality-in-america-facts-figures Audio Special Thanks:
Adrift Among Infinite Stars by Scott Buckley | https://soundcloud.com/scottbuckley
Music promoted by https://www.free-stock-music.com
Creative Commons / Attribution 4.0 International (CC BY 4.0)
https://creativecommons.org/licenses/by/4.0/
Readers! Do You Read by Chris Zabriskie is licensed under a Creative Commons Attribution 4.0 License. https://creativecommons.org/licenses/by/4.0/
Source: http://chriszabriskie.com/reappear/
Artist: http://chriszabriskie.com/
Part three of the Tax Gap series. In this video, I review my Top 10 Ideas on how to fix our Tax Code and close the Tax Gap, which is the amount Americans are cheating on their taxes annually. In 2019, that amount was projected to be north of $600 billion which would go a long way toward addressing our National Debt problem.
Sources:
IRS History: https://www.irs.gov/irs-history-timeline
IRS 2021 Data Book: https://www.irs.gov/pub/irs-pdf/p55b.pdf
IRS Tax Gap Reports: https://www.irs.gov/newsroom/the-tax-gap Audio Special Thanks:
Once Again by Bensound, Music: https://www.bensound.com
Early Morning by Borrtex,
https://www.youtube.com/watch?v=DtAzKt-UQM4
Readers! Do You Read by Chris Zabriskie is licensed under a Creative Commons Attribution 4.0 License. https://creativecommons.org/licenses/by/4.0/
Source: http://chriszabriskie.com/reappear/
Artist: http://chriszabriskie.com/
