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Government expenditure is divided by population. Every citizen is taxed at the same flat rate per year, all other taxes are cancelled. Every citizen has an account, and their taxable amount (same for every citizen) is debited from this account each year. Citizens can transfer funds into their account
to bring the balance back above zero, or they can ignore it. Accounts which are below zero are annually bundled up and sold off as financial products to private investors.
Advantages: simplifies every citizen's tax affairs.
Disadvantages: As usual with my ideas, there are no downsides.
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Annotation:
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Tax farming and debt-slavery - widely known to exist in the
ancient world. [-] |
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Flat tax: not an innovation or necessary to the idea. Or a good idea on its own. |
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Tax farming: widely known to exist in the ancient world. |
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Debt slavery: this idea doesn't go as far as to mention how the debts would be collected, so debt slavery is not present. But this idea doesn't go as far as to mention how the debts would be collected. |
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