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Idea#3776

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Strategic Planning and Budgeting »

Lowering taxes and balancing the budget

Why Is This Idea Important?: The US budget deficit is out of control. Soon this will destroy the US Dollar. In the current monetary system it is impossible to have a balanced budget over the long run because debt has to be added to keep the economy going.

During the Great Depression in Wörgl Austria a new monetary system was introduced. The economy started to do very well. Money circulated 14 times faster and tax income rose 1,300%. Because the money was backed by Austrian Schilling, this money had the same value. If tax income in the US rises 1,300%, there is room to end the income tax and lower all other kinds of taxes.

You can read more about it here:

http://www.naturalmoney.org/introduction.html

Submitted by Bart Klein Ikink 2 years ago

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