During my research into the history of our tax system, the Federal Reserve system, and my analysis of the federal budget, I came to the conclusion that, no matter what one's individual socioeconomic condition is, there are only four things anyone can do with their money: 1) spend it, 2) save it, 3) invest it, or 4) give it away.
When we eliminate both the corporate and individual income tax, approximately $3 TRILLION of our money will be returned to "We the People" to spend, save, invest and give away in our states and communities where we live, according to our individual values. Now, that's true economic freedom!
In addition, eliminating the corporate income tax will bring approximately $3 TRILLION in corporate capital, currently being held in offshore accounts, back to America.
Economic law teaches us that the activity generated by the injection of $6 TRILLION of existing capital into the U.S. economy, from the bottom up, will bring about the greatest economic boom in world history.
This economic activity will be taxed at the state and local levels to fund education, infrastructure, health care, welfare and other services authorized by the state legislatures, but, unconstitutional at the Federal level.
In addition, eliminating the corporate and individual income tax will return, to individuals and businesses, approximately $34 BILLION in annual tax compliance costs and approximately 16.4 BILLION hours of tax preparation time.
All of this can be accomplished without one dollar of debt being incurred or one dollar being created out of thin air by the Federal Reserve.
Ask yourself this question - "Why haven't the so-called "experts" in academia, Wall Street and Washington, D.C. proposed such a plan?"
Perhaps they have no intention of restoring liberty and prosperity to us.
As a U.S. Senator from Texas, I intend to introduce legislation to do just that.