Home
Graphs & Data
The Author
Press Events
Press Inquiries

A New Book and Audiobook - as a Serial Podcast

FEATURED AND QUOTED IN:

See All Articles, Features, and Quotes

"Imagine a world where Tax Burdens are Fair for
Salary Workers and Corporations alike, the Middle Class
Thrives, and the American Dream is Within Reach for Everyone"

The Decline of the American Dream is Revealed in the Data: Observe the Tax Burden being Shifted onto the Backs of Middle Class and Upper Middle Class Salaries

The US Federal Tax System is broken far beyond conventional perception. Camouflaged beneath 70,000 pages of convoluted and cryptic pages of the Tax Code is a story of deception where corporations have persuaded accomplices in Congress to shift more and more of the tax burden onto the salaries of middle class and upper middle class Americans, and away from corporations.

It wasn’t always this way. In 1943, during World War II, there was a national sense of shared sacrifice that was reflected in the tax code: 40% of federal government revenue came from taxes on individuals’ salary and income, and 40% came from taxes on corporations (with the remainder coming from excise and estate taxes). Fast forward to today, and individuals’ income taxes contribute almost 90% of all US revenue, while taxes on corporations contribute less than 10%. This is an astonishing shift in the tax structure—and the burden is now squarely placed upon the backs of working Americans and their salaries.

Increasing Taxes on Salary Income &
Decreasing Taxes on Corporations

This Shifting Tax Burden onto Individuals’ Salaries has resulted in the Declining American Dream.
Look at how the trend lines move in unison:

The Dot-Dashed Line Shows the Declining Percentage of American Children Earning more than their Parents by Birth Year.
The Solid Line shows the percentage of total federal tax revenue paid by individuals’ income taxes on salaries.
The Dashed Line shows the percentage of total federal tax revenue paid by corporations’ taxes.

Children born in 1950, around the time of more equal taxation, had a 90% chance of earning more money than their parents. Today, it's a very different story. People born in 1985, and after, have less than a 50% chance of earning more than their parents. The correlation of these events appears undeniable. This shift in the tax burden is strangling the American Dream.

A Shift of the Tax Burden has Increased the National Debt

Tax cuts for corporations create shortfalls in Federal Revenue, requiring the US to borrow incredible amounts of money to cover its expenses. Borrowing to meet spending needs steals from your children’s future to artificially support the economy of today. Consider this: in 2024, the costs of interest payments on the national debt exceeded $1 trillion dollars for the first time. That is more money than we spend federally on Education, Public Health, Scientific Research, Space Exploration, Transportation, Infrastructure, Energy, Agricultural Support, National Parks, Environmental Protection, Low-Income Assistance, Law Enforcement, Justice Systems, Homeland Security, Veteran’s Healthcare, and Tax Collection—combined. The National Debt is over $35 Trillion (now at 120% of the US $26 Trillion GDP). It’s clear to see that these current tax policies are having enormous impacts on society, the lives of Americans, and the future of our nation. And to cover the Budget and Pay Down on the National Debt we need to collect $6 Trillion Annually in taxes.

So the questions become:
How do we collect $6 Trillion annually?
How do we move forward?

The ABT Tax System, Driven by Technology

The US needs to raise $6 trillion annually to cover the budget and pay down on the national debt. All US workers combined earn roughly $12.5 Trillion annually in salaries, clearly this is too small a tax base to realistically raise the needed $6 Trillion revenue; we would need almost a 50% tax rate. In turn, expanding the tax base to the US GDP, or about $26 Trillion annually, while including an increase in corporate taxes, might be an option, but to extract $6 Trillion, from $26 Trillion, the overall tax rate for individuals and corporations would be about 25% which could seriously impact some segments of the economy.

But what if we could expand the tax base even further, to $600 Trillion annually? Science and math tell us that the larger the tax base, then the smaller the tax rate (meaning the lower the percentage of tax for everyone). The solution is to find the largest tax base possible within the economy, and that tax base is - all banking transactions—currently estimated at $600 Trillion annually. Using existing banking technology, we can tax every single banking transaction at a very small rate of 1% which would bring in $6 trillion annually, the amount needed to fund the government and pay down the national debt before it becomes a national disaster.

This is the power of the Automatic Banking Transactions (ABT) Tax, mechanically collectable, because of modern technology. This scientifically and mathematically sound system creates the widest tax base possible with the lowest tax rate possible; where everyone pays equally—and minimally.

In these Pie Graphs look at the options to raise the needed $6 Trillion annually in tax revenue:

1. 50% Tax Rate on $12.5 Trillion in Salaries = $6 Trillion
2. 25% Tax Rate on $26 Trillion of GDP = $6 Trillion
3. 1% Tax Rate on $600 Trillion of total Banking Transactions = $6 Trillion

Imagine a world with no IRS – No Self-Declaratory Tax Filings for Individuals or Corporations, and note that Self-Declaratory Tax Filings are asking for abuse of the tax system. Instead every banking transaction you and every individual and corporation complete in a year is automatically taxes at 1% with the banks sending that tax directly to the US Treasury. So, if you earn a salary of $100,000, there's a 1% total tax when you are paid, giving you with $99,000. When you spend your money on groceries, your home loan, your car loan, etc., there is another 1% tax collected. In effect, you pay a 2% tax on a salary of $100,000, whereas today, you would pay about 25%.

But How is This Possible? Modern Technology.

It is possible because everyone in the entire economy would be paying taxes. Corporations would be paying taxes, drug dealers would be paying taxes, the rich would be paying taxes, and the poor would be paying taxes. Each and every one of us would be paying our share (and note: the Federal Government can absolutely still support particular people or sectors on the spending side of the equation with well-funded programs). And most equitably, under the ABT Tax, those that use the systems of government the most—those that earn the most money, those that buy and sell the most items—pay the most tax. Yet it is still at a much lower rate because everyone pays every time. No exemptions. No more Self-Declaration of taxes. No more IRS.

We need to disrupt the current progressive tax system, our current tax system cannot be fixed, it can only be replaced, and should be replaced with a mathematically and scientifically sound structure. The ABT Tax is a solution, because, for the first time, rapid advances in financial technology make collection possible. It is time to shift the tax paradigm, create an equitable tax burden across the economy, and the ABT Tax can provide that shift. It is a bridge that can span our socioeconomic divide and reignite and restore the American Dream for all citizens

.

"The widest tax base possible
And the lowest tax rate possible
Confirmed by mathematical and scientific rigor
Made possible by modern technology."

Press Events

Press Inquiries

Kipp Lanham
Media Strategist
Nardi Media, LLC

kipp@nardimedia.com
202-412-5533

Now Available as a Book Wherever Books are Sold

Audiobook as a Serial Podcast

Expanded Audiobook Sample

The Decline of the American Dream is Revealed in the Data: Observe the Tax Burden being Shifted onto the Backs of Middle Class and Upper Middle Class Salaries

Increasing Taxes on Salary Income &
Decreasing Taxes on Corporations

A Shift of the Tax Burden has Increased the National Debt

The ABT Tax System, Driven by Technology

But How is This Possible? Modern Technology.

Press Events

Press Inquiries

Sign Up for Our Email Updates

Suscríbete a nuestras actualizaciones por correo

Now Available as a Book Wherever Books are Sold

Audiobook as a Serial Podcast

Expanded Audiobook Sample

The Decline of the American Dream is Revealed in the Data: Observe the Tax Burden being Shifted onto the Backs of Middle Class and Upper Middle Class Salaries

Increasing Taxes on Salary Income &Decreasing Taxes on Corporations

A Shift of the Tax Burden has Increased the National Debt

The ABT Tax System, Driven by Technology

But How is This Possible? Modern Technology.

Press Events

Press Inquiries

Sign Up for Our Email Updates

Suscríbete a nuestras actualizaciones por correo

Increasing Taxes on Salary Income &
Decreasing Taxes on Corporations