Jesus...
Your plan would put thousands of currently middle-class people on the street. Are you going to increase the minimum wage substantially, so that people can pay their taxes AND eat? Or is it one or the other?
...H.
You people...
Let me ask you something;
If your company and every other company had 50% more payroll money on there hands, all the taxes they withhold and expense they put into playing government tax collection agent, do you think they would just keep it? Would it vanish into thin air? Or, would they give it to you?
They would give it to you or their competitor would and they'd lose you.
Let's say you make $75,000 a year now and take home $50 of that, or $4100 a month. The other $25,000 is withheld by them plus their share of your SS taxes plus their unemployment taxes, plus their payroll expenses. Every dollar they pay you costs them about $1.30 or more, so, you're $75,000 costs them another $22,500. Under my plan they would have the $22,500 plus what they directly withheld from you, about $25,000, meaning they would have an extra $47,500 on hand that they neither have to send to the government NOR spend to employ you.
They'd HAVE to give you the $25,000 right away. It came from your paycheck. If they don't give you the $22,500 a competitor will and they lose you. They're spending it now, so why wouldn't they just give it to you? They would.
So, you go from taking home $4100 a month to taking home $8125 a month.
Then you pay your taxes. And you pay attention to what your representatives are doing with YOUR money.
Same thing for the poor who take home maybe $6 of an $8 an hour wage. Eliminate the withholding and the employer expense to play government agent and, viola, they're taking home nearly $12 an hour.
Under my 10 year/2%/family of four plan, your share of taxes would be about $2,600 a month. You just got a 'raise' of over $4,000.
For the $8 an hour person, they're now taking home an extra $960 a month. They'd be short a great deal. If they are single, their taxes would be $670 a month. It will work out.
For a family of four, I don't believe for one second a family of four is living on one wage earner making $8 an hour. Call it two at $8. That's $2,600 a month in tax owed and they're taking home an extra $1,920. So, we're close.
$2,600 a month, for that family of four, is about $16 an hour raise for one worker a family would need to stay where they are now. $8 an hour for two workers. This is feasible.
The plan could allow for longer repayment schedules, but, we're still talking about economic growth from unshackling people from the status quo. And we're talking about increasing everyone's motivation to pay attention to their government.
it is perfectly feasible that we could successfully become a nation governed by the people, for the people and prosper.