As I walked my dog this morning, I reflected on our nation’s debt. My proposal of a Net Worth tax is given in chapter two of the Restoration Party Manifesto. A 5% annual GDP growth rate with an average 30% tax rate produces an average 1.5% increase in tax revenue. This is an insufficient increase in revenue to even balance a budget, much less pay off the twenty trillion in accumulated debt, as Donald Trump proposed. My proposal immediately pays off the entire twenty trillion in national debt without increasing taxes or sacrificing any government programs. I argue here that a net worth tax is inherently fair because the twenty trillion dollars owed has primarily benefited the wealthy rather than the poor and the tax is not a hand out to the poor. It simply returns borrowed money.
I should add that the payment of the twenty trillion dollar debt can be managed through reassignable liens, as I described in chapter two of the Manifesto so there is never any liquidity shortage. Unlike net worth taxes attempted in France and Germany and other nations, the tax is not on items but on total worth, wherever it is possessed. Therefore, there won’t be a capital flight problem and this is not a proposal that has ever been attempted. The net worth tax is simply a bill. Unlike as in France, it is not the government who determines what property to place liens on. That power belongs to the owner of the assets and the tax payer can re-assign which property the liens are on any time they want for a modest fee.
I should also add that the net worth tax is just one of many possible ways to pay off the debt. Supplanting Federal currencies with state currencies while the dollar fails is another way. The debt can also be paid off more slowly. A thirty year mortgage at 3% comes to about one trillion per year. Please notice that no mortgage payment has ever been made on our national debt. We must now face our debt. If we don’t, the apocalypse this video predicts will result.
I am calling for Restoration Party activists to rise up and take power in the United States immediately in order to restore America to fiscal responsibility. Without fiscal responsibility, government does not serve us. It enslaves us. Our forefathers died in order to have a government that is FOR the people and OF the people and BY the people – not an elite few who exploit us for their personal careers and to line their own pockets with. If you want to take America back, you must dedicate your time collecting signatures for the Acts the Manifesto proposes, writing letters to Congress and converting activists to the Restoration Party. Voting is not enough. Your time is required. This is a war against time. I am issuing a solemn warning to America. Do not ignore what I am saying.