NOW TAX - National Sales Tax System Proposes To Replace The Income Tax System
NOW TAX BUTTON - National Sales and Transaction Tax
NOW TAX SYSTEM, A Tax Collection System Designed To Pay The Federal Budget Without Negatively Impacting The Economy
Just pay as you go, buy a candy bar and coke, and you have paid your taxes!”
ATHEN, WEST VIRGINIA, UNITED STATES, September 8, 2022 /EINPresswire.com/ -- NOW TAX USA announces a new proposed United States Tax System – The NOW TAX – National Sales and Transaction Tax System replaces all other Federal Taxes. NOW TAX USA is introducing a draft Amendment/Bill to replace and repeal the 16th Amendment. — Stephen Redden
Traditionally the income tax systems have been the major source of revenue to pay for the Federal Budget. The income tax system however always falls short of paying our budget, creating an ongoing growing the national debt.
To solve the United States problem of collecting enough revenue NOW TAX USA has offered an alternative tax collection system. The NOW TAX – National Sales and Transaction Tax is designed to collect enough taxes to pay the Federal Budget and start paying down the national debt with very little impact on the U.S. Economy.
Example: Like a toll road, think of the United States as a Super-Economic Highway.
And like a toll road, everyone and every business must pay a little something to use it.
On this highway, hundreds of millions of people and businesses, every day, get on it to generate trillions of dollars in sales, financial transactions, and good old fashion paychecks.
It is a pay-as-you-go tax system that could be as low as 1% or all sales and transactions. The logic is based on a consumer sales tax but expanded to all sales and transactions spreading the tax burden to all segments of the economy. “Everyone and every business will have a little skin in the game.” – Founder Stephen Redden.
How the NOW TAX System works. Take the sum of the largest tax-common denominator and divide it into the Federal Budget to net the lowest possible tax rate. The largest tax-common denominator used to thought of as citizens and businesses. However, with modern banking, it is easy to determine the largest tax-common denominators, by far, are sales and transactions.
The NOW TAX System because of its simplicity can be phased in less than one year. The Federal Banking system will be the source of automatic collection. Every sale and transaction is subject to the proposed 1% rate (like a sales tax). Upon bank deposit, the 1% is deducted and automatically sent to the Treasury Department. (Internal transactions of families, organizations, or businesses will not be subject to the NOW TAX).
Other stand-alone tax systems proposed are:
Flat tax – Taxing all income at a predetermined rate – estimated at 10% - but to pay our Federal Budget it would be more around 20-30% and this may not be high enough.
Consumer tax – The current proposed consumer sales tax would be on average 15%, but only consumers earning an income over the poverty line pay this tax, businesses, and consumers below the income poverty line pay no taxes. Again, this system falls short to pay the Federal Budget.
Benefits of the NOW TAX SYSTEM are:
• NOW TAX eliminates the need for payroll withholding and citizens keep 100% of their paycheck.
• NO FORMS
• NO DEADLINES
• NO PENALTIES
• NO FILINGS
• NO OTHER TAXES
For detailed information visit www.NowTaxUSA.com
Stephen Redden
NOW TAX USA
+1 727-776-3316
sredden@nowtaxusa.com
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