Taxation in FRONA
Nov 26, 2012 7:10:57 GMT -5
Post by Michael Downing on Nov 26, 2012 7:10:57 GMT -5
Russell continues to lay out his vision of secession...
Taxation in FRONA
By Russell D. Longcore
The first thing you must do when considering taxation in The Free Republic of North America (FRONA) is throw out everything you ever thought you knew about taxation. But even before that, you must throw out everything you ever thought you knew about money.
The money of The Free Republic of North America is the Frona. There will be the gold Frona, the silver Frona and the copper Frona. Gold Fronas will likely be used for larger transactions. Silver and copper Fronas will be used as the day-to-day coinage of the nation. Pure gold and silver coinage from other nations would also be acceptable forms of money since they are denominated in fineness and weight. So for example, America Eagles, Austrian Philharmonics, South African Krugerrands, Australian Kookaburras, and Canadian Maple Leafs would all be seen regularly in FRONA transactions.
FRONA money is silver, gold and copper. It is not BACKED by precious metals. That defines a “Currency.” Currency is NOT MONEY. Precious metals ARE money when they are minted as money. But precious metals NOT minted as money can be used as money. If I have a one ounce gold chain of 18K fineness, any merchant could accept that as payment in a commercial transaction because the weight and fineness are known. If I have a one pound gold bar of .999% fineness, it spends just like 16 one ounce coins. Get it?
Russell ends with...
FRONA has only one source of revenue…a national sales tax of 10%. No property tax, excise tax, duties, tariffs, ad valorem tax, estate tax, corporate tax, income tax…NOTHING but the sales tax. In FRONA, the national sales tax pays for ALL government, even funding the governance needed down to the county and city level. There is NO OTHER SOURCE OF TAX REVENUE…PERIOD.
What happens to any surplus? Under the Charter I have written for FRONA, the government would declare a dividend and pay it back to the citizen/shareholders. Try to wrap your mind around THAT.
Now THAT’S the way a nation should work!
Secession is the only solution for individual liberty and property rights in North America.
dumpdc.wordpress.com/2012/11/26/taxation-in-frona/
Taxation in FRONA
By Russell D. Longcore
The first thing you must do when considering taxation in The Free Republic of North America (FRONA) is throw out everything you ever thought you knew about taxation. But even before that, you must throw out everything you ever thought you knew about money.
The money of The Free Republic of North America is the Frona. There will be the gold Frona, the silver Frona and the copper Frona. Gold Fronas will likely be used for larger transactions. Silver and copper Fronas will be used as the day-to-day coinage of the nation. Pure gold and silver coinage from other nations would also be acceptable forms of money since they are denominated in fineness and weight. So for example, America Eagles, Austrian Philharmonics, South African Krugerrands, Australian Kookaburras, and Canadian Maple Leafs would all be seen regularly in FRONA transactions.
FRONA money is silver, gold and copper. It is not BACKED by precious metals. That defines a “Currency.” Currency is NOT MONEY. Precious metals ARE money when they are minted as money. But precious metals NOT minted as money can be used as money. If I have a one ounce gold chain of 18K fineness, any merchant could accept that as payment in a commercial transaction because the weight and fineness are known. If I have a one pound gold bar of .999% fineness, it spends just like 16 one ounce coins. Get it?
Russell ends with...
FRONA has only one source of revenue…a national sales tax of 10%. No property tax, excise tax, duties, tariffs, ad valorem tax, estate tax, corporate tax, income tax…NOTHING but the sales tax. In FRONA, the national sales tax pays for ALL government, even funding the governance needed down to the county and city level. There is NO OTHER SOURCE OF TAX REVENUE…PERIOD.
What happens to any surplus? Under the Charter I have written for FRONA, the government would declare a dividend and pay it back to the citizen/shareholders. Try to wrap your mind around THAT.
Now THAT’S the way a nation should work!
Secession is the only solution for individual liberty and property rights in North America.
dumpdc.wordpress.com/2012/11/26/taxation-in-frona/