Line Item Budget

Written by Cement Canary   // 11/07/2011   // 0 Comments

Budget

Trickle-down economics has been a disaster in practice.  It has starved our economy for cash and eviscerated our tax base.  Maybe we used the concept incorrectly.  Instead of trickle-down taxing, let’s try trickle-down spending: free-market based government spending using a progressive tax system.  You are expected to trust Congress with the revenue, Congress can certainly trust you with the budget.

Here’s how:

  1. Congress will publish an annual budget and submit it to the taxpayers for funding.
  2. Taxpayers will assign their tax money to budget items at their discretion.  No funding, no program.
  3. Tax liability will remain on a tiered structure.  Higher incomes earn more funding discretion, promoting tax equality.
  4. Tax liability reductions will apply to domestic spending only, we will tax all money removed from the economy.
  5. 5th amendment rules will apply to your money, you will not be taxed on the same money twice.

So there it is.  Build the economy and reduce your taxable income.  Keep the cash and pay a penalty.  Congress will prioritize a budget, you will fund it.  No matter how you earn a dollar, it will be taxed only once.  Entitlements will be funded democratically.  A tax plan that is fair and just.

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