A new economic system

Ok, I really have no idea where to put this, so I'll put it here, and hopefully a nice moderator will come along and help me figure out where this should go.


Recently (earlier today) I was thinking about how our wage system works, wage like the money you get and taxes etc, or is that economy, I really don't know, anyways I was trying to design a new system that I thought would be good to have, and I ended up coming up with one, and I'd like to know what people's opinions are of it, I did'nt go into total detail, but I did make a basic system. So here it is.




Deductions and there meanings.
-Social monetary return deduction:
The amount of money set aside to be equally redistributed back to everyone, no one gets more or less, an equal amount is decided by dividing the amount of money in in the fund, and dividing it up equally to every working person above 16 years old.

Minimums.
-Minimum wage: $10.00
-Minimum hours worked per day: 5
-minimum days worked per week: 3


I realise that this may not be a complete model, but I'm rewriting everything from what I wrote by hand, so if I missed anything I'm sorry.
Feel free to ask any questions about this model you may want to know the answers to.

By GOD! You've found the answer!

Sorry, couldn't contain myself. The world's pretty complex, I'm sure you might of left out something.

[edit on 23-1-2006 by bigpappadiaz]

Yeah I've nodoubt left somethings out, either in the transmission from physical to digital data, or just in general.

in your example would you diiferentiiate between companies and people as far as income? When and how would the tax be collected? paid quarterly by people, witheld by companies? Would companies be allowed to deduct expenses before paying tax on the income? Where and how would social services be paid for like welfar for instnce? out of the monetary return fund or govt projects? Would people still get deductions on their taxes for things like children or woudl none of that exist because everyone got an equal ammount of money?

How would you tax investment income from things like stocks, bonds, real estate etc.. would it be taxed at the income rate or would tehre be capital gains?

Would there still be a sales tax? would this be federal, state or some combination of them?
Also Where would the money for things like the military come from in the model?

in your example would you diiferentiiate between companies and people as far as income?

Sorry, I don't understand what you mean.

When and how would the tax be collected?

There are no taexes, the 50% taken from your income is the equivilant to it though.

Where and how would social services be paid for like welfar for instance?

Bottom right, look next to Government projects.

Would people still get deductions on their taxes for things like children or woudl none of that exist because everyone got an equal ammount of money?

The whole tax thing would'nt exist like it does in our system.
I explained what people would get back in my origonal post.
Sorry I'd repost it, but I'm tired right now.

Would there still be a sales tax? would this be federal, state or some combination of them?

Sales tax would'nt exist.

Also Where would the money for things like the military come from in the model?

Money for the military would fall under the government projects area.

Have you tried to figure out who much revenue the govt currently collects from taxes vs what you proposed system would? I just wonder if it would be a simmilair sum of money or a big difference?

No, I have'nt, it is something I've been curious about.

But the intention in the way the system is suppose to work, is that the government does'nt get as much as the U.S gov. does.