No. of Recommendations: 5
As in the "ease" of creating a rational national health care system, passing Congressional ethics laws with teeth, imposing term limits on both houses of Congress, the probability that a tax reform will actually help the majority of Americans, rather than further complicate the existing code and tilt it further towards the contributors to political campaign's interests is nil.

Jeff,

I agree with your above statement in every respect. However, since meaningful "tax reform" that benefits anyone other than the "job creator class" is merely a pipe dream or fantasy anyway, I would like to propose a radical alternative fantasy.

One alternative to the present "income tax" system, might instead be the implementation of an "asset tax" system, similar to the annual Ad Valorem Real Estate (or Ad Valorem Business Asset) taxes paid annually by those of us who own real estate or business assets in any particular city, county or taxing jurisdiction.

Much as the US presently taxes its citizens a percentage of income earned anywhere in the world, it would theoretically be possible for a country to tax its citizens on a percentage of assets held anywhere in the world. Given the advanced state of computer networks, as well as the advanced use of algorithms in the valuation of property using market-level microdata, it is now possible for all forms of real, personal, financial, and intellectual property assets to be assigned or "registered" to its "beneficial owner" and its value to be adjusted in real time on an almost continuous basis.

At any one moment, every tangible item you have purchased using a charge card, credit card, debit card, or electronic check within the past year (or any other time period) can be assigned a value as of the date of purchase, and an estimated "life span" of that item assigned using something akin to GAAP standards. Real property taxation systems around the world already operate on similar principles, with taxes collected against the possible foreclosure, sale, or possessory surrender of such assets to pay the taxing authority in the event of the taxpayer's failure to cough up their "fair share" as imposed by assessors appointed by duly elected representatives of the voting population as a whole.

An asset-based tax system is the only system that will invariably ensure that those who have reaped the greatest benefit from civil society will bear their proportionate share of the costs of maintaining a civil society.

To the extent that each of us has cash in the bank, stocks, bonds, real estate, collectibles, cars, jewelry, or precious metals, we truly are "rich" to some degree - certainly when compared to those who have fewer of such assets. An Ad Valorem Asset Tax Sytem implemented on a global basis is the only sort of system that, if applied uniformly upon each taxing authority's own citizens, could be used to support the sort of civil society that each of us wants - where the needs of those without assets can be met by the "fair sharing" of assets belonging to those who own them at any given point in time.

Radically kind regards,

Notehound [who will be hurt by an asset tax more than the present income tax system - so who selfishly wants to continue the current system]
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