Automated Payment Transaction (APT) TaxThe APT concept is elegant in its simplicity - potentially replacing the entire federal and state tax system - including income, corporate profit, excise and estate taxes - in favor of a reduced tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT tax would therefore eliminate the need for individuals and firms to file income and information tax returns.
The following questions have been addressed in this article:Why is ATP considered a prime solution for various tax problems?
How will the APT Tax work?