The Fair Share Balanced Budget Amendment.
Proposing a balanced budget amendment to the Constitution of the United States.
“SECTION 1. The Sixteenth Amendment is hereby repealed and Congress is henceforth forbidden to lay
any tax or burden calculated from profits, gains, interest, salaries, wages, tips, inheritances or any other lawfully realized money
NOTE: these words would return us to our founding father’s ORIGINAL TAX PLAN as they intended it to operate! And, they would end Congress’ ability to financially punish successful businesses and hard working wage earners while allowing the unproductive to escape contributing an equal share in supporting government. The words would also end Congress’ current love affair with class warfare, which they now use to divide the people while picking the pockets of business and labor.
“SECTION 2. Congress ought not raise money by borrowing, but when the money arising from imposts duties and excise taxes are insufficient to meet the public exigencies, and Congress has raised money by borrowing during the course of a fiscal year, Congress shall then lay a direct tax at the beginning of the next fiscal year for an amount sufficient to extinguish the preceding fiscal year’s deficit, and apply the revenue so raised to extinguishing said deficit.”
NOTE: Congress is to raise its primary revenue from imposts and duties, [taxes at our water’s edge], and may also lay miscellaneous internal excise taxes on specifically chosen articles of consumption. But if Congress borrows and spends more than is brought in from imposts, duties and miscellaneous excise taxes during the course of a fiscal year, then, and only then, is the apportioned tax to be laid.
“SECTION 3. When Congress is required to lay a direct tax in accordance with Section 2 of this Article, the Secretary of the United States Treasury shall, in a timely manner, calculate each State’s apportioned share of the total sum being raised as agreeable to the Census fixed in the Constitution, and then provide the various State Congressional Delegations with a Bill notifying their State’s Executive and Legislature of its share of the total tax being collected and a final date by which said tax shall be paid into the United States Treasury.”
*NOTE: our founder’s fair share formula to extinguish a deficit would be:
---------------------------- X ANNUAL DEFICIT = STATE’S SHARE
Total U.S. Population
This formula, as intended by our founding fathers, is to insure that those states who contribute the lion’s share of the tax are guaranteed a representation in Congress proportionately equal to their contribution, i.e., representation with proportional financial obligation!*
“SECTION 4. Each State shall be free to assume and pay its quota of the direct tax into the United States Treasury by a final date set by Congress, but if any State shall refuse or neglect to pay its quota, then Congress shall send forth its officers to assess and levy such State’s proportion against the real property within the State with interest thereon at the rate of ((?)) per cent per annum, and against the individual owners of the taxable property. Provision shall be made for a 15% discount for those States paying their share by ((?))of the fiscal year in which the tax is laid, and a 10% discount for States paying by the final date set by Congress, such discount being to defray the States’ cost of collection.”
NOTE: This section respects the Tenth Amendment and allows each state to raise its share in its own chosen way in a time period set by Congress, but also allows the federal government to enter a state and collect the tax if a state is delinquent in meeting its obligation.
"SECTION 5. This Amendment to the Constitution shall take effect one year after the required number of States have approved it.
***“The apportionment of representation and taxation by the same scale is just; it removes the objection, that, while Virginia paid one sixth part of the expenses of the Union, she had no more weight in public counsels than Delaware, which paid but a very small portion”***3 Elliot’s 41