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