NationStates Jolt Archive

By capitalizing on financial data processing technology, it is possible to create a tax code for the 21st century-- one that is astonishingly easy for all citizens to understand, that is easy to administer and to comply with because it eliminates the need to file tax or information returns. The system, developed by University of Wisconsin Professor of Economics Edgar L. Feige, is known as the APT or Automated Payments/Transaction Tax.

Practically speaking, how will the APT Tax work? Every bank, brokerage, or other financial account established by a person, corporation or other taxable organization will pay 0.3% on ALL funds moving IN OR OUT of that account.

The projected revenue made by implementing this tax means we can eliminate income, sales, capital gains, and sales taxes. I posted a link with information about the APT tax in the "Your ideal tax structure?" thread, but it has been ignored, so I figured making a new thread to attract some discussion on this wouldn't hurt. What are your thoughts? Do you support or oppose this tax scheme? I'm in love with it. :fluffle:

Check out this link (http://www.apttax.com/) for all the information you need about the APT tax.

Im not sure I like it. I think I may have spotted some abuses that may occur to the tapayer, but since Im not positive, I'll wait to see what other say. It just strikes me that the same amout withdrawn could be taxed many different times in a single day.

Im not sure I like it. I think I may have spotted some abuses that may occur to the tapayer, but since Im not positive, I'll wait to see what other say. It just strikes me that the same amout withdrawn could be taxed many different times in a single day.
It wouldn't be horrible if this tax were to replace the other taxes. Even then, how much would you withdraw? Even if your total transactions amounted to $100,000 in a day, you would only pay, according to the 0.3% tax rate, a grand total of $300.

Added a poll to make this thread more trendy.

The revenue that can be generated by implementing this tax removes the need for income, sales, capital gains, and sales taxes. I posted a link with information about the APT tax in the "Your ideal tax structure?" thread, but it has been ignored, so I figured making a new thread to attract some discussion on this wouldn't hurt. What are your thoughts? Do you support or oppose this tax scheme? I'm in love with it. :fluffle:

Check out this link (http://www.apttax.com/) for all the information you need about the APT tax.
In theory, this sounds like a wonderful idea, one I'd be willing to support to an extent, though I'd still support an income tax for upper-middle class/rich/super rich incomes.

In practice, I'm not so certain that this would work very well. We've seen countless times how many good ideas turn out to be horrible(communism, anyone?) so I'm going to have to wait and see this put into practice in the small form before deciding.

In theory, this sounds like a wonderful idea, one I'd be willing to support to an extent, though I'd still support an income tax for upper-middle class/rich/super rich incomes.
Bill Gates: Fine, but *I* won't support one.
In practice, I'm not so certain that this would work very well. We've seen countless times how many good ideas turn out to be horrible(communism, anyone?) so I'm going to have to wait and see this put into practice in the small form before deciding.
It would be a good way to promote it. As of now, the tax is getting next to no coverage by media and relies on word of mouth to spread.