The Falconist Party and I came up with a new tax plan called the Flat-VAT-FAT plan. It consists of the following elements.
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A 20% Flat Tax on the income of both individuals and corporations with a $20,000 deduction for individuals and $50,000 deduction for families.
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A 20% Value Added Tax (VAT) which will replace the payroll tax, finance universal health care and give annual rebates of $3000 to every man, woman and child living in the USA.
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A 1% Financial Action Tax (FAT) on all securities transactions.
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Raising the Estate Tax on estates worth at least $1 million.
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Repealing the alternative minimal tax