So I ran across this scheme and instantly became suspicious. Anytime someone devlops a "new" tax plan, that involves one rate it generally means raising the amount the middle class pays so rich guys can pay less. But here is one that I think passes the American sense of fairness, and will be impossible for lobbyists to put in loopholes.

It is the Automated Payment Transaction tax at apttax.com.

Here's how it works-

1. Every financial transaction is taxed at 1 rate.
2. eliminate all other taxes; payroll, income, inheritance, excise taxes etc

  They eggheads who came up with this peg the rate at 0.3%. So every transaction of $100 would carry a tax of 30 cents! And it would be revenue neutral. In their study a family earning $60,000 today owes about 20,000 in tax, under the APT it would drop to 720. Where does the differnece come from?

  Every financial tansaction, including money moved on the staock exchanges, and the bond traders would pay.  Speculators on the Forex or the commodities markets would pay too. And all those millions, or billions of dollars of trading would pay this low tax. No exceptions. Then Republicans could be happy with the fair flat rate. And it would eliminate auditing income returns.

  Of course, thats not what Republicans want. They want to lower taxes on Rich folks, and raise them on the middle class. That is their idea of fair.