User:WikiBK

Fishman's Framework for Tax Reform is the tax reform plan that saves our middle class. It will be accepted by a majority of Americans because it is written from the perspective of, and meets the objectives of republicans, democrats and independents.

It lowers taxes for individuals and corporations, lowers the tax on capitol gains, and removes the tax on interest. At the same time it raises almost a trillion dollars more in revenue than our current tax system. This additional revenue allows us to fully fund public education (including free college for all academically qualified students), provides us with a solvent Social Security system, and gives all Americans what they truly need, National Health Care.

The basic and fundamental underpinning of this tax reform plan is the elimination of all tax deductions. The elimination of tax deductions immediately stops most of the fraud and corruption surrounding the current tax code, and allows for simple solutions to the inherent complexities of taxation.

For example, replacing the business tax deduction (which was used to lower the net profit to lower the business tax liability) with a small tax on gross revenues lowers the overall business tax liability to such an extent that business payroll tax obligations can be expanded to include National Health Care, and an increase in Social Security payments. Corporations will gladly accept their expanded payroll obligations because their overall tax liability has been reduced. This same outcome is realized when applied to individual taxpayers. Since tax deductions have been eliminated, there is no need for personal income taxes. Therefore, this tax reform plan eliminates personal income taxes. The elimination of personal incomes taxes allows the individual's payroll tax obligation to be expanded to include not only National Health Care and Public Education, but also an increase in Social Security payments.

A majority of Americans will gladly accept their increased payroll tax obligations because their overall tax liability has been lowered. And, they will rejoice when they realize that even though their overall tax liability has been reduced, they are still the beneficiary of a solvent Social Security system, National Health Care, and they can send their children to great public schools that includes free college for all academically qualified students.