The current income tax system is inadequate, unfair and corrupt. It encourages taxpayers to lie, cheat and steal. It is time to Abolish it.
General revenues could still be generated by switching to a simple system that taxes money, but only when it moves.
We already collect taxes on every retail purchase and the American people accept this. We can expand this to cover every transaction, not just retail. Every time a transaction takes place through our illustrious banking system we will take a small percent in the way of tax. Every time, except to or from the government. The banks already handle this type of transaction every day and can easily implement this program.
Cash transactions would NOT be taxed, as they are outside of the banking system.
Every year, Congress could establish a new rate for the year, based on spending needs and the presidents budget.