Step 1. Free SSI from Federal Fiscal Policies
Step 2. Freeze Federal budget at 1 Trillion dollars
Step 3. Flat tax rate of 15% declining to 5% indexed against the federal debt.
Step 4. 1% Federal Gross receipts tax on all businesses
The gross receipts Tax would be used only to pay off interest and Federal Debt payments. Strictly off budget until the federal debt is paid off.
Flat tax would decline to 12% Two years after the first Balanced budget is passed, decline to 10% when the National debt fall below 4 trillion dollars(1992 level), fall to 8% when the debt falls to 1 trillion dollars (1981 level)and settle at 5% when the debt is paid off.
With a flat tax the need for tax returns and interaction between the IRS and citizens would be minimized. People wouldn't have to waste time filling out forms and the IRS wouldn't have to check them. Tax cheating would be eliminated for those involved. This alone would reduce the IRS workload by at least one third. It is also extremely likely that Income tax could be completely eliminated with the gross receipts tax completely funding the federal Government, if the government spending can be brought under control.
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