4. Operates with Only One Tax: The Transaction Fee
It is determined by Component No. 3 and by the fact that the JMS is based on Real Assets, that there is NO need for any Taxes to be levied for a Quantity of JMS-Currency to be created and monetized.
One Exception - "The Transaction Fee"
AFTER the Quantity of JMS-Currency is created, there is ONE Exception to this No Tax-principle that comes into play.
This exception has to do with the reason that an equivalent contribution by all people has to be made to the Society and its Economy to be able to operate. It is a contribution to the total budget and necessary funds to be able to provide the Basic Income for the needy and to finance the Projects & General Expenditures of a Nation. This is also a token of brotherhood, where people take care of each other.
The way of doing this is to levy a Transaction Fee of a maximum of 10% on all transacted Goods & Services.
The moment for this Transaction Fee to be levied is the moment when a transaction is completed, because then Commerce and the Economic Phenomenon of providing in the needs of the others may occur.
Solves the entire Tax-Debate
Because it is an equivalent rate for everybody, it also solves the discussion of how high taxes should be and whether or not others should be taxed with a higher percentage. Besides this a JMS will ensure that everybody can cover his or her basic living costs through providing the Basic Income. If you want more money you simply have to work for it.
Way of Collection
Because currently 95% of the transactions take place electronically, JMS ensures to operate in a similar or more modern high-tech manner. It will be a matter of implementing a Software System within the electronic payment systems, which collects the amount of the Transaction Fee.
The Transaction Fee of the transactions in cash can be collected at the end of the month from businesses.
Advantage for Clear Bookkeeping of Total Economy
The Transaction Fee also fosters the Clear, Sound & Transparent Bookkeeping of the Quantity of JMS-Currency and the Goods & Services in Circulation.