Automated Payment Transaction Tax. This idea is simple, elegant, progressive, and in-arguably fair...and since I've never met anyone who has heard of it, I wonder what I am missing.
Here are the basics - eliminate virtually every tax you can think of - income, estate, corporate, capital gains, fuel, sales - and replace it with a flat tax at a very small rate (.35 to .7 percent) on every electronic transaction. Every time the money moves, the government gets a cut.
Since this applies to everyone equally, it is impossible to argue that it isn't fair - and it would MASSIVELY shift the tax burden back where it belongs - on the 1%. Intrigued? More after the jump.
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