What if you could completely stop paying federal income taxes? Not one cent, ever again? What if that was the same for every citizen of America, whether they earned thirty thousand dollars, one hundred thousand dollars or even ten million dollars? That would be a life changer. And what if, despite none of us paying any income taxes any more, the government could also completely eliminate our suffocating deficit, offer a basic income for everybody in America, and provide welfare, free health coverage, and free higher education? How might that change America's outlook?
It's a real possibility. The Economists Tale is a response to our urgent need to address taxation, debt and the US deficit, but from a radical new perspective. Much more ambitious and disruptive than closing loopholes in the income tax code-which was Obama's suggestion-it puts forward a policy that involves eliminating income taxes altogether. It puts forward a policy that could save America.
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