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What's Your Fair Share?

If our financial operating system were optimized, what would you pay in taxes, and what would you receive in return?

The Answer Will Surprise You!

At the Foundation for a Better Economy we researched this question and put together a policy plan that would transform your life.

We call our plan The Financial Freedom Act.

It's not a bill before Congress - but it ought to be!

The purpose of this site is to educate you about the standard of living you could enjoy if you were paying your fair share of taxes and receiving your fair share of benefits.

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The Financial Freedom Act 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

The Financial Freedom Act

Watch a Video on the Financial Freedom Act

Your Fair Share in Taxes is Much Less Than You Pay Today

Collectively we only earn $16 trillion per year in income, while there are over $5,000 trillion in payments made each year in our economy that are not taxed at all!

Your tax rate would drop to 0.2% if we taxed payments instead of income - that's Your Fair Share in taxes!

A payments tax of just 0.2% would balance the budget and we could eliminate all federal and state income taxes, sales taxes, and property taxes. Plus we'd collect enough revenue to pay the benefits shown on this site.

What This Means for You

If you earn $100,000, your taxes

would drop from $30,000 to $200.

Your Fair Share in Benefits is

Much More Than You Receive Today

Even at the very low rate of 0.2%, a payments tax would generate sufficient revenue to balance the budget and pay the following benefits for all.

Basic Income

We could 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

We could provide earned income credits to increase the income of citizens earning less than $30,000.

Basic Healthcare

We could provide free basic healthcare for all citizens.

Free College

We could provide a free college education for everyone.

Banking 2.0 

Banking 2.0 funds startups, cuts the cost of mortgages, and brings profit from international finance back home.

Calculate Your Personal Benefit

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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.

A Couple Earning $10,000

HOW THEY FARE TODAY

Salary

Minus Taxes

Earned Income Credit

Basic Income

Net Disposable Income

$10,000

-$765

$4,010

         $0

$13,245

$10,000

-$126

$5,000

$48,000

$62,874

One last benefit - because a payments tax balances the budget, we could even pay off the national debt.

Learn More About the

Hidden Economy

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If Technology Makes Life More Efficient
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The Social Security System is Broken
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.

Read Emma's White Papers

Emma Dahl has worked as an economic analyst for the Financial Freedom Act for the past two years. She holds a BA in economics from Colorado State University and is currently pursuing a Masters in Business Analytics and Big Data from IE Madrid. In her free time she enjoys Salsa dancing and travel.

The Financial Freedom Act is brought to you by the Foundation for a Better Economy

ENGINEERING ECONOMIC VITALITY FOR ALL

© 2020 The Foundation for a Better Economy, Boulder, CO

Some of the financial technologies disclosed on this website are patent pending.