#FundAmericaNow will allow the United States to implement Whole Society Economics to
Deploy Net Worth into the Economy

 

Proposed Legislation

 

The goal of tax legislation under Whole Society Economics is to provide for the full funding for life, liberty and the pursuit of happiness, which can be expanded to include freedom from fear of extinction.

CCFO will promote a #FundAmericaNow “21st Century New Deal” stimulus bill legislation to support Build Back Better and facilitate a full economic recovery. The Whole Society Economics stimulus bill is designed to encourage the deployment of Net Worth into the economy.

The goal is to achieve full funding for strategic initiatives, without new taxes, without government spending, and without increasing the national debt. The following changes to the tax code should be considered to #FundAmericaNow.

  • Fund America Now Tax Credit: A new Fund America Now Tax Credit (FANTC) would be set at 3% per year for the duration of the capital pledge to #FundAmericaNow approved programs.

The full FANTC would be usable for the tax year the deposit and pledge are made. Thus a three year CD pledge (for example, to build and sell low-income housing) would deliver a 9% FANTC for the tax year the deposit and pledge were made. On a seven year pledge (for example to build a nationwide smart energy grid or a national high speed rail system) a 21% FANTC would be delivered in the year the deposit and pledge were made.

  • Interest Income Exemption: Earned income on CDs while pledged as collateral should be declared exempt from income taxes. The plan calls for funding via purchase of 3-7 year bank CDs depending on the endeavor financed.
  • Personal Income Wages Exemption: Wages used to pay back principal and interest on #FundAmericaNow programs by beneficiaries should be tax exempt. (This same exemption should be applied to all outstanding student loans.) The burden of paying taxes on the phantom income of funds used to repay debts creates an undue and punitive burden.
  • Tax Exemption on Revenues on Stop Loss Assurance policies used to safeguard Funders’ capital would factor into and significantly reduce policy costs, thus accelerating payback and release of the collateral pledges.
  • Tax Exempt treatment for future revenue streams from #FundAmericaNow programs, when sold to repay construction loans would improve the economics of major construction and renewable energy installation.
  • Low-Income Exemptions to address inequities will reduce or obviate toll and usage fees on #FundAmericaNow public works and infrastructure.

#FundAmericaNow implements Whole Society Economics, which obviates the government having to directly pay for programs, meaning:

NO NEW TAXES

NO NEW DEBT

NO GOVERNMENT SPENDING

Historical Precedent

If this sounds familiar, it is. This is very similar to the way WWII was financed. FDR sold “War Bonds” and we bought them, to the tune of $187.5B (~$2.25 trillion in today’s dollars). 85 million Americans (64%) bought the bonds and we won the war. If that percentage of the US participates today, 219 million Americans would be funding the future. What can 219 million Americans do? Just about anything, we think.

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