ydoaPs Posted October 28, 2010 Share Posted October 28, 2010 Despite the USA's relatively low taxes, its citizens often complain about how high the taxes are. While playing Fable 3, I got a half baked idea. What if we could put in place a program to eventually eliminate federal taxes altogether? In Fable, as King, I got rid of the taxes to up my morality status. To pay for the federal budget, I then went to work in a pie shop. What if the Federal government does the same? What if the government sets up low cost competitors and uses our free-market economy to fund its programs? A government-owned Walmart-esque chain could potentially bring in a lot of revenue. Such things could stimulate the economy by competition and job creation. After the infrastructure for government-owned competitors is in place, the tax rate could theoretically be lowered and even eventually removed. A small scale real world example would be states with ABC laws governing the sale of hard alcohol. Virginia, for instance, requires that all liquor be be purchased from the state government or purchased/consumed at a bar/restaurant. This is not quite the same, however, since it is a monopoly rather than a competition. Moving toward a more limited government could help things along in this plan. Several things could be done along these lines. Social Security could be faded out(and any similar benefits become a state issue should the people desire them) and the Thrift Savings Plan could be opened up to all citizens as a retirement option. Medicare/Medicaid could be faded out(and any similar benefits become a state issue should the people desire them) while a low cost federally-owned insurance coverage option would be put in place(and the healthcare bill removed). The bank reform could be repealed and a federally owned bank could be instated to help drive down interest rates through competition rather than reform. Is this idea even feasible? If so, what kind of revenue are we talking about here? Link to comment Share on other sites More sharing options...
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