Taxing Lifehours

Captn'D said, "Let me ask you a question. Do lifehours get taxed?"

Yes. Even if no government existed as a taxing authority, all of our hours of life get taxed, for life is a series of problems that tax our time. How much our hours of life are taxed--in symbols or substance--depends on what we do with our time and the taxing of our time.

"Let me ask you a question. Do lifehours get taxed?"

As an developing honest currrency to serve as a symbol of our current time, it is a fair question whether lifehour currency should be taxed like dollars in sales and wages. Independent of how life does tax the hours of our life with problems, the question of taking or taxing part of our lifehour symbols is a fair question which can be answered after reviewing a few pricinciples of taxes.

1. First of all, all transactions of goods and services should be taxed their fair share of the cost of economic stabilty--product transaction tax. If everyone does not pay their fair share then some must pay more than their fair share. Or, we suffer economic instability, chaos and collapse because economic stability is not fairly and fully funded.
2. The real question is not whether lifehours should be taxed but how?
   1. Do you want your real hours of life taxed over and over by unsolved problems?
      Or,
   2. Do you want to pay part of your symbols of time (taxes of lifehours) to solve the problems efficiently, inexpensively and effectively?
   3. The question is not "are lifehours taxed" but "how best to tax lifehours."
3. Taxes can be distinguished in several ways.
   1. Obvious versus less obvious:
      • Obvious taxes are income and social security taxes.
      • Less obvious are gas taxes in which one pays an advertised price from which part is forwarded to the taxing authority.
      • Hidden taxes are best because, emotionally, some people cannot deal with taxes any more than they can deal with balancing their checkbook
   2. Before wages or after wages.
      • After wage taxes are very familiar--income and social security.
      • Before wage taxes are less obvious--unemployment compensation.
   3. Sales taxes: Less obvious, less wage connected
      • Obvious but after wages.
      • Consumption tax is an unfair wage tax, for a person who spends all of his wages is taxed on 100% of wages.
4. Unemployment taxes (SUTA and FUTA) show a lot about taxes.
   1. If unemployment tax is 3% then the employer pays the government 3% which otherwise could go to the employee. If unemployment taxes were collected after wages, employers would raise wages by 3% with a corresponding deduction for unemployment.
   2. This case shows how financially, at the bottom line, it does not matter whether taxes are collected before or after wages, on the job or at the gas pump.
   3. The cost of economic stability has to be paid if one is to have jobs, homes and security.
   4. The tax questions are where are taxes collected and how fair are they collected. (Spending taxes to solve problems is another question, a question of political competence and corruption.)
5. Ideal taxes would be fair, unobvious and before wages. By having a lifehour tax that achieves these three points, one can have the best tax and see how taxes make government better rather than worse.
   1. A basic principle of the lifehour tax is that not only should all transactioins be taxed fairly but that a percentage of all human time is needed to solve common, public problems.
   2. Does it matter whether, like unemployment taxes, a person is paid 100% with 3% being withheld or a person is paid 97% with the other 3% sent to the taxing authority?
6. The Lifehour Tax: Within Timism.com, as lifehours are generated to compensate people for solving problems, a percentage will be added to the taxing authorities in a percentage basis, e.g., Local 50% ... State 25% ... National 15% ... Global 10%. When a lifehour transaction occurs, percentages are automatically transferred to the taxing authorities
7. Properties of the lifehour tax
   1. Fair: Every transaction, that is, everyone, is taxed the same rate whether buying a lollypop sucker or the lollypop factory.
   2. Unobvious: The tax is paid silently when it transfers through the economic system. There is no bloated bureaucracy, time lag or tax-cheats.
   3. Separate from wages/payment (a product transactioin tax): The participants in the economic transaction does not see a tax deduction for it is separate from either parties.
8. Time management: The primary, real and existential role of government is time management. The lifehour taxing authorities directly control time by virtue of receiving citizens' lifehours in symbols as well as substance through execution of the citizens' symbollic lifehours in buying time to solve public problems.
9. It is important to remember that lifehours are received for solving public problems so the lifehour tax is a multiplication of problem-solving so as to maximize free time for citizens. Free time is quality time, that is, time free from time-wasting problems.

Historical precedents and antecedents of a silent lifehour tax:

1. 1913: The lifehour tax implements more fairly the principles on which the Federal Reserve and Internal Revenue were organized in 1913.  
   1. Federal Reserve: Because the American and global economies were growing faster than the supply of currencies based on precious metals (gold and silver), commerce was being restricted from the lack of adequate currency.
      1. This was a major reason for the Federal Reserve which was to increase the money/currency supply to match the the growing economy using Federal Reserve Notes.
      2. In effect, because currency is the blood of an economic body, it is important to have a blood/money supply that complements a healthy growing body without the effects of high blood pressure (inflation) or low blood pressure (deflation).
      3. In effect, each time the Federal Reserve creates a Note out of thin air, it is taxing the existing working currency and existing workers' time. Oversimplified, but to the point, if the Fed doubles the money supply, it has affected a 50% tax upon workers' wealth.
   2. The Internal Revenue Service came into existence to address another economic problem from growing global commerce. Taxing External Revenue Sources (tariffs) was constricting trade.
      1. Using the body blood analogy, the external revenue taxes were like placing leeches on a person--the body could not get fully healthy with chronic blood-suckers.
      2. Unfortunately, the nature of the IRS today with unfair taxation is to raise the specter of a blood-sucking tax system.
2. Keynesian Economics:
   1. The 1930's Depression was reversed using an economic tool called "deficit spending" from the theories of John Maynard Keynes.
   2. From a timistic perspective, consider what deficit spending means. Instead of a steady, methodical creation of lifehour symbols as a percentage of on-going problem-solving, the government initiates a crash generation of currency symbols to buy/manage the time of the unemployed.
   3. Keynesian deficit-spending is a chaotic reaction while lifehour taxation is a creative proaction. Like the Federal Reserve issuing notes, deficit-spending is a tax on current workers. (In fact, deficit spending goes hand-in-hand with the Fed's money-from-nowhere when the Fed purchases the Treasury paper issued to finance deficit spending.)
3. Lifehours today as a better global and local currency to correct trade and tax problems.
   1. Anyone who thinks the current global currencies are promoting global stability are ignoring the growing global civil war from the economic chaos of currency injustices--the WTO and IMF.
   2. As new currencies were needed in 1913 and 1930 to address economic upheavels, so are new currencies needed today that are tailored to not only global trade but to individual national, state and local economic/political units.
   3. Timism.com has achieved this by the creation of global democracy for better capitalism.
      1. When you have idea democracy which honestly rewards problem-solvers in the units of the wealth they create (time/lifehours), then one has idea capitalism.
      2. Democracy per diem begets capitalism per capita.
      3. Optimal democracy brings out optimal pride in people, and optimal capitalism brings out the optimal profits in business.

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