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Here's a fair tax system...

1. Get rid of all deductions and exemptions, tax every dollar that every person and every entity takes in, irrespective of the source; loans, interest, dividends, paychecks, sales of goods, retail or resale, everything.

2. Everyone pays the same rate: 1%

This would bring in about $16T of revenue per year -- enough to pay off the national debt in just a few years and still have enough to fund all current government functions plus a lot more.

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