The Object Tax
The Object Tax
A book about tax reform suggests creating an Open Source project to create Tax Aware Accounts to streamline income tax collection.
A book about tax reform suggests creating an Open Source project to create Tax Aware Accounts to streamline income tax collection. Read more
It is likely that Tax Reform will be a major issue in the 2016 election.
A small group of extremely loud people is pushing a proposal called "The FairTax." This disruptive reform would replace the income tax with a national sales tax. The FairTax is likely to lead to economic chaos.
I believe the best way to respond to a disruptive proposal is to present a reasonable reform as an alternative.
The Object Tax suggests that Congress launch an Open Source project to create a new interface to streamline the current income tax. The reform is named after Object Oriented Programming.
In the current system, the IRS withholds taxes from payrolls. Workers file an annual return to complete the payment of taxes. This system requires a great deal of paperwork and that taxpayers touch each tax related decision twice.
The Object Tax would create an object called a "Tax Aware Account." The Tax Aware Accounts would include all the information needed to calculate a progressive income tax. Workers would receive their entire check into their account and pay taxes when they withdraw the money for consumption.
Let's say you receive a check for $1000 and your calculated tax rate is 20%. The account will pay a $200 tax and give you $800 when you withdraw the funds.
As your Tax Aware Account includes all of the information needed to process the tax, the system would eliminate the need to file an annual return.
The Tax Aware Account would be an alternative interface for the existing income tax. The reform could be implemented without disruption.
My book will discuss the design of the interface and it will discuss the role that the Open Source movement should play in implementing public policy. For example, an Open Source Program could address important issues involving taxpayer privacy and identity protection that Congress has been unable to address.
On the ideology front, the book will discuss how a new interface for the tax system could transition our current tax system from a tax on production to a consumption.
I intend to use the book to confront politicians who've been seduced by the FairTax. I started this Kickstarter Project because I want to have a book with an ISBN number and Library of Congress Number; so that I can cite the work in my argument that there are better ways to go about public policy than these massively disruptive programs like the FairTax.
I will present my arguments on the blog http://objecttax.blogspot.com .
Risks and challenges
Most of the book is written in the form of blog posts which I am working to shorten, but I need to finish writing, editing and formatting the work.
I intend to publish the work with the Ruby Package at OutSkirts Press. Their list prices is $699 and $99 for the LCCN. These prices may be misleading or their work prove unsatisfactory.Learn about accountability on Kickstarter
- (30 days)