Dear President Donald Trump
In my Letter No.94 – I provided a 2% LIBERTY TAX BUDGET for the Australian Federal Government to show you how 2% LIBERTY TAX –
- cuts the Cost of Government by abolishing EXISTING TAXES on incomes, benefits, payrolls, business profits and capital gains, and goods and services.
- takes these TAXES off the Cost of Government and PRICES.
- only adds a single simple 2 cents in the dollar LIBERTY TAX to costs and PRICES.
- fully funds Government with 2% LIBERTY TAX on ACOO to provide Budget surpluses to pay off crippling DEBT.
In my Letter No.95 – I provided an estimate of ACOO into, within and out of Australia which fully funds Government to provide Budget surpluses to pay off crippling DEBT.
In this letter is the following brief explanation of the 2% LIBERTY TAX pre-implementation PLAN for the legislation, research, accounting/reporting/compliance/auditing of the reduced 2% LIBERTY TAX PRICES of goods and services to apply from day one of implementation.
The following arrangements to be made over a period of 6 months and finalised by the implementation date.
- Legislation – Existing Tax Legislation to stay in place until the second anniversary of implementation of 2% LIBERTY TAX and will apply plus interest and penalty in the event of noncompliance with 2% LIBERTY TAX. The 2% LIBERTY TAX Legislation to have a purpose and intent preface to interpret the Legislation which is a narrative of my Letters No. 93 to 97.
- Research – The research to comprise 3 Data Base components (1) the reduction in PRICES and Cost of Government (2) the Government Revenue by TAXING at 2 cents in the dollar the Open Market Value (NO transfer pricing) of All Changes Of Ownership into, within and out of the States and the Nation. (3) a Consolidation of (1) and (2). The Data Bases of this research to be by industry, by State and separately the US Government. Industry bodies to participate in the reduction in PRICES of goods and services 2% LIBERTY TAX inclusive and in the enforcement of compliance. Service industries to provide ‘Commercial in Confidence’ their reduced PRICES for inclusion in the reduced PRICES of other Industries and businesses. Other Industries and businesses to provide ‘Commercial in Confidence” their reduced PRICES of goods and services 2% LIBERTY TAX for inclusion in Price Books, Billing/Cash Register Receipting Systems etc. A 2% LIBERTY TAX ANNUAL BUDGET of each State and separately the US Government.
- Accounting/reporting/compliance/auditing – The reduction in PRICES and the payment of 2% LIBERTY TAX to the IRS is fully controlled and accountable. Existing IRS documentation to be modified to report by Industry by business the EXISTING TAXES to be abolished and deducted from PRICES and the 2% LIBERTY TAX to be added to costs and PRICES to provide the reduced PRICES of goods and services 2% LIBERTY TAX inclusive. These prices to be Audited and reported as True and Fair. Invoicing/Billing Systems to include existing PRICES and the reduced 2% LIBERTY TAX PRICES and the % reduction in PRICES. Shoppers to have an App on their smart phone of the reduced PRICES so that they can check these when they shop and report noncompliance. The marketplace will enforce compliance as shoppers will only shop where the reduced PRICES are charged. Noncomplying businesses will fail.
All of the above is well within the capacity of businesses, consumers and government.
From day one of implementation Americans can celebrate a new beginning for America which can Make America Great Again.
Kind regards
Derek Smith CA
Photo and comment of Facebook
Remember the old saying “Nothing ventured Nothing gained” Please SHARE.