Federal Taxation: A Physician's Prescription For Reform

Accelerating disseminated economic inequality is a disease of the monetary system gripping the American economy. This paper examines the mechanism of that disease in terms familiar to the physician. First an examination of the normal physiology, how energy and information flow through the properly-functioning system, then the malfunctions in the system are studied, the pathophysiology illucidated and that directs treatment. The normal physiology of the US monetary system is thoroughly described in Modern Monetary Theory (MMT). When the problem is studied through the combined lenses of physiology and MMT, it becomes clear that the structure of the federal taxation system itself is most responsible for todays exploding growth in economic inequality. Following the discussion, four "prescriptions" are offered that would produce radical and fundamental changes in the way federal taxes are structured and imposed.