We the people propose a national tax, for all current taxpayers, to pay off the national debt, currently at over $16 Trillion.
By imposing a 10% tax, SPECIFICALLY for the purpose of paying off the national debt, and NOTHING ELSE, every American will help bring this country out of debt from foreign hands and back into the people.
This 10% tax would be on top of the current taxes, to every person claiming income. This would not affect their current tax table, nor be different based on their income.
Facts:
Total Income Last Year = $12,949,905,000,000,000
Income Taxes Collected = $1,000,000,000,000,000
Average Tax Percent = 12.95%
Proposed Tax Per Year Collected = $1,294,990,500,000
Translation; no national debt after 13 years, at which time the tax would be removed. For America!