We must abandon our outdated tax systems. A transaction tax of just 0.35% could raise enough revenue to balance our federal budget, while shrinking the IRS and saving trillions. At the same time, a transaction tax would dramatically reduce taxes on consumers and small businesses and spur much-needed economic growth.
The Transaction Tax would completely replace income taxes, corporate taxes, excise taxes, payroll taxes, capital gains taxes and estate taxes. There would be no more tax returns, audits or April 15 deadline. Collecting the tax at the moment of a transaction would be simple and efficient. It would cut out all the opportunities for fraud, corruption and political influence.
Go to http://thetransactiontax.org for more details.