We all know the IRS is the financial extortionists of the Federal Government. Politicians pass laws and raise tax rates to steal your money. There is no denying it. Federal Tax Revenue, or receipts, has stayed at a consistent 17% of GDP for the last 70 years.
Meaning, we don’t have a lack of tax revenue, we have a spending problem. They claim we need a larger IRS to combat the tax fraud we’ve been “dealing with”. This is incorrect and inflated. Rep. David point’s out fraud is less than 2% of the total amount of the total fiscal budget.
So let’s get this straight, we currently pay taxes to a corporation (FED), to not only use all incoming capital to “spend”, but OVERSPEND to the point where borrowing is indefinite. The system doesn’t work. Admit it.
I’m not one to pay to the Federal Government, I know for a fact they are not the experts when it comes to societal capital allocation. State and local taxes we can directly influence and save though, and here’s how!!!
play.anghami.com
In the Podcast above, Andrew from Popular Liberty details his “Anti-Tax” plan for local communities. I highly recommend listening to it.
This “Anti-Tax” plan works pretty simply. Most US cities have cash reserves from tax revenue. Anywhere from 10%-30%, with almost all sit as cash and roll over into the new budget cycle. Most cities are actually good at keeping true to their books and not overspending unlike the Federal Government.
The plan illustrates the cities to take these reserves and essentially put them to work in some sort of fund. Invest this capital into stocks, local businesses, diversify for comfort and sustainability. With the market growth and time, this fund will grow large enough to bring in more revenue than the actual taxes. This allows people to provide a solution to future generations, we’re giving our kids the option to not be crippled by taxes like we’ve been!!!
We can go one step further and use tax revenue in the crypto space. Crypto has so many nuance possibilities to help the Anti-Tax plan as well. Local communities and devise protocols that pool funds of tax payers to grow instead of lose value. We could also create of governance token on said protocol to allow tax payers direct say in the pool. Makes everything transparent and allows the community to vote on where their taxes go.
A great option for communities to protect and grow their wealth is DRIP.
“The DRIP Network’s Faucet is a low-risk, high reward contract that operates similarly to a high yield certificate of deposit by paying out 1% daily return on investment up to 365%. Players can compound and extend their earnings through deposits, hydrating (compounding) rewards as well as through team based referrals.”
To break down DRIP is simply, its a Contract ( Faucet) you fund with Capital. You use DRIP token to deposit into and you are paid back in DRIP token. This allows the Contract to always pay because its a native token. 1% Daily ROI for 365 days… Compounding everyday for 365 comes to 10% Daily ROI.
Essentially, communities can use DRIP to store their wealth in a protected and safe manner rather than leave it in cash and watch it burn from inflation. We can tell by DRIP’s growth numbers, a small business’s monthly profits could very well turn into a yearly amount of operation costs within a year. I’ll repeat, a small business can take a month of profit and invest in DRIP, and could end up with a DRIP balance that’ll cover their YEARLY operation costs within ONE year.
I’d read more about DRIP from our team!!!
cryptozoa.com
Check out my article explaining DRIP more in detail
cryptozoa.com
Is DRIP a scam? I’m confident it isn’t a scam, here are some Facts around this project…