At present Government is funded by TAXING GDP (Gross domestic product) at around 29% (OECD figure). GDP is NOT a financial measure of all economic and financial transactions that take place into, within and out of Australia so numerous financial transactions of value are not taxed. This is not fair and equitable to those who compulsorily pay their TAXES at high rates. With 2% LIBERTY TAX everyone, every business, every other entity, and all government pay 2 cents in the dollar on the Open Market Value of All Changes Of Ownership (ACOO) into, within, and out of Australia to fully fund the reduced cost (Net of existing taxes paid by Government and included in its Expense Budget) of all Government. This 2% TAX fully funds Government with surpluses to pay off debt.
Category:
Liberty Tax Questions