Dear President Donald Trump
Thank you for your response to my letters. Much appreciated.
As a Chartered Accountant for over 60 years in the Profession, Manufacturing, marketing and
sales, Coal mining and export, Banking, Project Managing new TAX in Government, and
Consulting to Businesses in financial trouble, I have witnessed the Economic and Financial
crises in America over the past 40 years.
I understand the enormity of the task that you and your Team are confronting full on.
Since the early 1970’s America has funded the industrial development and expansion of
Communist China to Super-Power Status by importing goods and services from China.
This has only been possible for Communist China because America’s EXPORT COST
INDEX is higher than that of Communist China.
I analysed Americas EXPORT COST INDEX and the reason for it being higher is TAXES on
wages, benefits, business profits and capital gains, and goods and services. When you take
these TAXES OFF America’s EXPORT COST INDEX it is lower than that of Communist
China. ‘Made in America’ can replace ‘Made in China’.
America’s TAXES at 25.2% of GDP (OECD 2023) do not fully fund Government resulting in
the crippling DEBT of $36+Trillion. Analysis of GDP shows that it is only a small fraction of all
Economic and Financial transactions conduced into, within and out of America.
The Open Market Value (NO transfer pricing to evade TAX) on ALL Changes Of Ownership (I
call this ACOO) into, within and out of America is a True and Fair measure of the American
Economy. My research over the past 40 years is that ACOO is at least 25 times the value of
GDP.
The SOLUTION to America’s Economic and Financial Crises is to take OFF costs and PRICES of
American goods and services and all government, TAXES on wages, benefits, business profits
and capital gains, and goods and services.
To fully fund government and pay off debt, apply to ACOO a single TAX at a single digit
figure i.e. 2%. I call this LIBERTY TAX because it will LIBERATE the American People and
America. Add LIBERTY TAX to the reduced costs and prices of goods and services and all
government to give LIBERTY TAX inclusive prices that can have ‘Made in America’ replace
‘Made in China.’
To help you and your Team fully understand and acknowledge the above please see my
website at https://2percent-liberty-tax.com
The quickest way forward is for you to send Elon Musk to visit me so that we can PLAN the
research and implementation of LIBERTY TAX to MAGA.
Kind regards
Derek Smith CA
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