First, proper spending levels for the US Government should have as a rule, “do not spend more than you have.” When the US Government spends more money than it has, the money and assets we all have and own, are worth, less. Its a stealth flat tax on everyone. Zimbabwe is a failed state.
Second, all taxation should be phased out. Taxation is a violation of the individuals right to life, liberty, and property. An individual either owns his or her own life in full, or not at all, as if the government can make claim to what is yours, even at 1%, you usurp the principle of self-ownership in full, 100%. How do we get there? First we flatten the Income Tax to one rate for everybody, and we make sure its low. Than we lower it in increments over several years until it is 1%. Leave it at 1% for a few years, than have it expire. How will the US Government attain funding? Through voluntary donations from people. Call it, a major check, on government power. I would argue voluntary donations may kick in at around the rate of about 1-4% GDP. But thats up to the people, not Harry Reid and Nancy Pelosi.
Currency, debt, and interest rate price fixing. The original purpose of the Federal Reserve was interest rate setting (price fixing on interest rates), and it’s gone way beyond its role now. The Fed should be abolished in phases, with the Congress taking over monetary policy of the US dollar. Fractional Reserve Banking should be made illegal, as it is fraud, ask Charles Ponzi. Competing currencies should be made legal, but all government transactions should be done in government currencies…this includes Congressional pay, contracts, judicial payroll, ect.
Proper spending levels of the US Government should be in check by the peoples willingness to pay, not the compulsions of the government to force payment. Monetary policy within government transactions should be open, and require 50% plus one in the house, and 60% of the Senate. Monetarily, if government wants to loot, it ought to only be allowed to loot itself. Citizens, remember, are above government.