> Enact a national Capital Homestead program to finance faster rates of “green growth” by enabling every citizen to acquire capital growth assets with interest-free, asset-backed money and privately insured capital credit. An annual $7,000 allocation of interest-free money would enable each citizen to invest in new capital assets through one’s tax-sheltered Capital Homestead account. A child born today would accumulate after taxes close to $500,000 and receive after-tax dividends of $46,000 at age 65 and $1.6 million over his or her life to supplement job incomes. The “new asset-backed money and credit” would be created through the discount powers of the 12 regional Federal Reserve Banks and administered through local commercial banks. Capital Homestead loans would be repaid with future savings and profits generated by the new assets themselves, and collateralized by loan default insurance. Corporations would be encouraged to make full-dividend payouts, which would be tax-deductible to the enterprise, thus eliminating the double- and triple-tax on corporate profits. Capital Homesteading would thus provide a non-inflationary system for financing faster rates of private sector growth and a nation of citizen-owners. It would generate mass purchasing power needed to pay directly for basic living, health, education and retirement costs, while radically reducing unsustainable Federal entitlement costs.

> Simplify today’s overly complex and unfair tax system by substituting a single-rate tax on non-exempt personal incomes from all sources, while:

1. paying from general revenues all entitlements and other government spending at present levels,

2. eliminating the payroll tax on workers and employers,

3. making dividend payouts deductible to corporations, and

4. balancing the budget.

Under the reforms proposed here, a “typical” family of two adults and two children would pay no tax of any kind until aggregate income exceeded $100,000 ($30,000 of exempt incomes per adult and $20,000 per dependent). This family would pay a single rate of approximately 48% on any income over its $100,000 exemption. The 48% rate on incomes above exemption levels would apply to all forms of income — whether from wages, dividends, capital gains, etc. This is less than what dividend and capital gains income would be taxed currently under the “double (sometimes triple) tax” of up to 50% (35% corporate tax rate plus 15% on dividends and capital gains). In contrast to the present system, a single tax covering incomes from dividends, interest, rents, and inflation-indexed capital gains would enable the over-burdened Medicare and Social Security systems to be funded out of general revenues. The single tax rate would drop significantly with a broadening of the tax base, as all citizens begin to receive substantial dividend incomes through their Capital Homestead accounts and as entitlements (constituting two-thirds of the current budget) can be radically reduced after keeping all current entitlement promises.

> Keep dollars for health care and education in the pockets of individuals and their families. Allow citizens to choose and pay for their own health care, rather than taxing dollars for health care and putting the control over health services in the hands of government bureaucrats and health insurance administrators. Citizens would cover the cost of health care, education and other basic needs through a generous personal exemption, deductions, and Capital Homestead deferrals allowing them to accumulate a viable estate of income-generating capital assets. Provide vouchers for those individuals and families with insufficient income to purchase comprehensive health coverage insurance and educational choices.