The best way to finance government in the history of mankind!
Have you ever wondered what America would be like if Income Taxes were not the main source of revenue used to finance our State and Federal Government? Or if Social Security could be provided without taxing wages? What would your life be like if you were able to spend 100% of your income on your family and both you and your spouse could save for retirement?
It's time to replace the antiquated and barbaric practice of collecting taxes from income every year with one that is designed for the 21st century! A tax plan that will take advantage of technology, the power of investing in American business and saving for retirement!
This concept of "Living without Income Taxes" would:
1.Lower Individual Income Taxes to Zero. 2.Lower Employment Taxes to 2%. 3.Lower State Income Taxes to Zero. 4.Lower Corporation Taxes to Zero. 5.Lower Estate and Excise Taxes to Zero. 6.Give retirees more money each month than Social Security. 7.Allow “stay at home” moms to have a retirement account. 8.Raise the minimum wage. 9.Lower the trade deficit. 10. Simplify the IRS tax code. 11.Lower the cost of goods and services.
It will provide money to:
Pay for health care.
Buy a home.
Send our children to college.
Give to charities.
Investment in business.
Buy U.S. Government Bonds and T-Bills.
Finance home loans.
This is how it works:
Individuals would save 5% of their income each year in their own Individual Retirement Account. (IRA)
Employers would contribute $1,000 to each employee's IRA each year in exchange for a two for one tax credit.
Individual income tax rates would be reduced .25% - .5% each year.
At retirement, the assets in your account will be converted to income producing instruments that will pay interest only payments each month. The principal is never spent and is left in the account until death. After death the assets in the account are converted to cash and paid to the U.S. Treasury.
After 40 years, with all Americans participating, this concept would generate more income to the U.S. Treasury than the present Individual Income Tax system.
The "Tax" would not be collected until the death of both husband and wife, leaving both retirement accounts for the use of the surviving spouse.
The graph above and supporting documentation shows the following:
That 5% of income saved and invested each year in Individual Retirement Accounts is all that is needed to replace the Individual Income Tax received by the U.S. Treasury if the money is from the "Unused Retirement Accounts" of people who die.
How many years would it take before the amount in the accounts equaled the Individual Income Tax normally received each year?
Could your IRA be converted to interest bearing bonds and would the interest only monthly payments from the bonds be enough to live on? (see Retirement Calculator)
What effect pay increases and/or inflation have on all variables.
What effect population and retirement age have on revenue paid to the U.S. Treasury.
When would Total Tax Revenue collected by the IRS decline to zero because the tax revenues are being reduced by the money collected from the retirement accounts of people who die.
Could State, Corporation, Employment, Excise and Inheritance taxes be paid with this concept?
Note: The number of deaths each year is more than 2.5 million. If 2 million of these people have an IRA with an average value of $1,500,000, the total of these accounts would be more than 3 TRILLION DOLLARS! This is what the "time line" in the graph above shows: It is the point where the "Unused Retirement Accounts" exceeds the Individual Income Tax collected each year.
Retirement Calculator
If you have Excel installed on your computer Click the icon on the right to down load a retirement calculator that will show how much money could be in your account using this concept.
Fore more explanation Click on the arrow below to view the "YouTube" video clip
What type of program is this?
It is a family program.
With 20%-40% more money to spend every year, families in the year 2050+ will be stronger, more united and able to provide for themselves.
It is an education program.
Saving for college will be easier with more spendable income.
It is a Health Care program.
Families will have more money to pay for health insurance. Retirees will be able to pay for catastrophic and/or long-term care insurance.
It is a program for women.
Married women will be more secure because they will be saving for retirement even if they do not work.
If they want to work, lower business costs will mean more jobs for women.
It is a minimum wage program.
Reducing the Employment Tax burden on corporations and business will allow them to pay a higher minimum wage.
It is an investment program.
Because individuals will be buying no-load mutual funds, there will be more money available for business.
It is an anti terrorism program.
More money going to the U.S. Treasury means the government will have more money to help protect America from those that are trying to destroy our way of life.
It is a program that will lower the cost of living.
Lower business cost means lower prices to the consumer.
It is a program that will help business.
If people do not have to pay Income Taxes or Employment Taxes they will have more money to spend on consumer items. Employer "matching" will give employees more IRA savings and Employers/Corporations have less taxes to pay resulting in more profit.
It is a tax increase program without a tax increase.
The actual tax (if you want to call it a tax) is only 5% each year, and is not collected during a person’s lifetime. Therefore over time, the confiscation of your income every month will end and in its place will be a tax that you will never see. (Wow!! What a concept!)
It is a balance of trade program.
Lowering the cost of business by reducing taxes on profits will allow U.S. business to sell goods and services to other nations at a lower price. Lower cost means higher demand for U.S. goods. We will then start to export more than we import, which will help the balance of payments and help our economy.
It is a program that will help Politicians get elected.
After people read and understand the benefits of this concept there will be a vast movement to raise money for Politicians that will support this idea. If you are interested in helpint to promote this concept, please e-mail me! Let's see what "We The People" can do!
150 million people in America are between the ages of 18-50 and they want changes that do not tax their hard earned income and social programs they can afford.
If you would like to see this concept promoted by this "grass roots" web-site, please enter the information below. Tell your friends and elected political officials about this site and let's see if a handful of people can help recapture the "American Dream"!
Thank You!
Individual Americans For Real Economic Equality I AM FREE
I am a concerned taxpayer, like you, and want to improve our tax system. This web site, NoTaxUntilDeath.com is promoting a tax concept that will replace our present system and it will also create an even greater tax base going into the U.S. Treasury. We as Americans will enjoy a more comfortable life because we will get to use the money we have earned during our employment years for ourselves not for the government. Governments can live forever, but you and I will not. So during the short time that we have on this earth let us live and work to support our families. We can provide for their education and health care, buy a home, start a business, save for our retirement, and live the good life. Then, after we have had the benefit of all of the money we have earned during our life time, not just 50% of it, the Government can receive the money it needs to continue the American dream!
Please read this concept very closely and see for yourself the benefits it could bring to you and your family. Maybe you have had an idea along these lines. Get in touch with us, we would like to hear from anyone who has a contribution to further this idea along.
We need a grassroots effort to affect a significant change in our current tax system. This web site is our effort to start the ball rolling.
A lot of research was done on tax collection statistics, demographics of our population, etc. If you have questions regarding the data used in my graphs and charts, please send an email. My goal is to enlighten as many people as possible to this concept, expand it, refine it, and get it to our congressmen and the nation. I believe the way to get this concept made into law is to raise money that will be used to support political campaigns of politicians who will support this concept.
Living life on your dollar. . . . . Not your neighbor's
I welcome your input, comments and questions. For more information please e-mail me at donlloyd@hotmail.com Thank you for visiting my web site.
Main Contact: Don Lloyd, Concept Author The contents of the NoTaxUntilDeath.com web site is protected by applicable copyright laws. No permission is granted to copy or distribute any text or graphics without permission from Donald W. Lloyd.
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