Flat Tax or NO TAX?

I still have no comments on the APT tax as proposed by Wisconsin Professor of Economics Edgar L. Feige.

His proposal will replace income tax, corporate and personal, state income tax, fuel tax, capital gains tax, gift tax, estate tax, excise tax and sales tax. APT means Automated Payments/Transaction Tax.

The APT tax would impose a single tiny tax rate on each and every transaction in the economy. All deductions and exemptions would be eliminated. Since the volume of all transactions is estimated to be 100 times larger than the current tax base, the flat tax rate needed to raise the same amount of revenues is just a hundreth of the current average tax rate of roughly 30%. The APT tax would be 0.3% on each transaction.

Instead of going through all the details and examples, just go to their website at http://www.apttax.com/ and see for yourself. Denny Hastert, the former speaker of the house introduced it in a bill, but could not get very many co-sponsors. Probably most didn't understand it. Those that did were beaten down by the lobbyists.

What do you think?

Let's Dump Offshore Oil Providers

While working to develop a hydrogen economy, there should also be an interim strategy to include incentives for conservation and for renewable fuels, including wind, solar and biofuels.

It is better to send the money to American farmers than to send it to foreign dictators.Create a $1-billion prize for the first affordable car to get 500 miles per gallon of gasoline and be manufacturable at a price of $30,000 or less per car with reliability and performance comparable to a gasoline powered car. This car would probably combine an e-85 ethanol fuel with a hybrid motor using electricity (and allowing a plug-in to absorb the 40% of electricity production currently unused at night) with a composite construction modeled off the Boeing Dreamliners very light and very strong (much stronger than steel) composite.

A second $2-billion prize should be offered for a car getting 1,000 miles to the gallon of gasoline.

The above is from an article by Newt Gingrich.

What about Archie Blue's idea in New Zealand? He ran his cars on energized water. Some of his associates still do. Why can't someone check into that or are they afraid of putting the oil industry out of business?