The following presentation updates the Taxation Concept for Global Competitiveness with an idea for how the industry categorization approach could work. Included is a reflection of the current industry tax contribution based upon the Industry Summary of the Top 60 U.S. Companies document previously used in the Corporate Financials blog.
A clarification of the proposal using the “Flat Tax” terminology was not an idea altering the United States' philosophical application of the progressive tax system on earnings. In my opinion, a federal income tax based on sales revenue increases the investment technical calculation breakeven hurdle limiting economic expansion and business creation. Political opposition could easily make the case that the government is placing collection priority ahead of the American people and their earnings.
