Cut all corperation tax , all employee taxes and also VAT and replace by a NATURAL RESOURCE TAX Applied At SOURCE .
This tax would replace all present taxes and reduce the burden of administration and finacial accounting for tax and employee purposes.
VAT would also be abolished and replaced by this new tax .
Fraud would also be avoided to a lrge extent due to the taxes are paid at source and there are few intermedaries and inderviduals to work fraudulant claims in the new tax process.
The total tax take would also be reduced as the loss to tax collection and fraud would be substantially less
Finacial institutions will have to safeguard there capital with real assets such as gold.
Why is this idea important?
Reduce over regulation of tax collection
Simplify the whole tax system
Taxation of all natural resources dependant on their environmental impact
Change in mindset to promote real sustainable and low polluting products ,rather than chasing the grants and subsdies for profit.
Reform of welfare to a single minimum wage for all , with additional payments only for longterm sick and disabilities.