An Idea You'd Love Congress to Pass
The Financial Freedom Act is an idea that would reduce your taxes, balance the budget, pay off the national debt, and provide you with basic income, healthcare and college.
Watch an Animation on the Financial Freedom Act
Watch a Video on the Financial Freedom Act
Here's What's Inside the Financial Freedom Act
The Act Reduces Your Taxes
The amount of payments made in our economy each year total over $5,000 trillion. Compared to the $16 trillion we collectively earn, the payments in our economy exceed the income of everyone in our nation by over 300-times.
Simply by placing a small fee of 20 cents on every $100 that anyone receives, we could drop the tax rate from 39% to 0.2% and eliminate all income, sales, and property taxes.
What the Act Means for You
If you earn $100,000, your taxes
would drop from $45,000 to $200.
Learn More About the
The flow of dollars shown in the video block above equals $250 million per year. It would take 20 million of the above video blocks running simulateously to show the volume of payments in our economy.
At a rate of just 0.2%, a payments tax would balance the budget even while providing all the below benefits. And we could pay off the national debt in six short years.
The Act Balances the Budget and Pays Off the Debt
The Act Provides New Benefits for Everyone
With a payments tax of 0.2% we could afford to pay every adult citizen in America a basic income of $24,000 per year, which would increase to $30,000 at age 70.
Earned Income Credits
A payments tax would provide earned income credits to increase the income of citizens earning less than $30,000.
A payments tax would fund free basic healthcare for all citizens.
A payments tax would fund a reasonably priced college education for all.
Banking 2.0 funds startups, cuts the cost of mortgages, and brings profit from international finance back home.
The Act Improves Your Financial Well Being
See How You Would Benefit
Use the button below to see how much the act would improve your bottom line.
See How Others Would Benefit
Scroll the slide show below to see how six families fare.
Behind the Financial Freedom Act
Scott Smith is the author of The New Operating System for the American Economy. As a citizen concerned about our nation's future, he embarked on a mission to find a nonpartisan solution to poverty, Social Security, the decline of our middle class, our deficit, our skyrocketing national debt, and the high cost of taxes, healthcare, and college.
Years of research led him to develop the Financial Freedom Act as a bill that Congress could pass, which would provide the benefits presented on this site. He created the Foundation for a Better Economy to promote the bill, and retained a law firm in Washington, DC to advocate it before Congress.