While I won't get into much of the problems with taxation itself, I'm sure most of us can agree that theres at least something wrong with some of it. Generally, the arguments supporting it are that we need tax money, for things like roads, school systems, etc, and I agree with that, or I agree that we need money for those things, but what if there is another way to get that money, something other than taxation, a way that doesn't put the burden on the backs of citizens (or anyone) and rather a way that could actually help citizens and create more job opportunities.
China is known for it's Industy Nationaization. Which is the process of making privately owned industries into state (government) owned industries. State owned industries account for 40% of Chinas entire GDP (Gross Domestic Product: The total value of goods produced and services provided in a country during one year). The value of that 40% is $15.97 trillion USD.
The US GDP for 2020 was 20.94 trillion USD.
In 2022, the US health and medical insurnace industy had a revenue of 1.257 trillion USD.
In 2022, the US drug, cosmetic, and toiletry wholesaling industy had a revenue of 1.049 trillion USD.
In 2022, the US hospitals industry, life insurnace and annuities industry, pharmaceuticals wholesaling industy, public schools industry, supermarkets and grocery stores industry had around a combined revenue of 4 trillion USD.
These statistics are just scratching the surface and there is so much more ground to cover.
If the US government started nationalizing these industries, we could start chipping away at the amount of taxes people pay. If we nationalize enough of them, we may not have to pay taxes at all.
We also have to include the potential added benefits of having the full power, wealth and influence of the US government backing these industries, and how it could allow for more investment and advancement, and how the US versions of these industries could take over other countries versions of them, having our products be sold instead of theirs (this already happens on some level in the private sector). Then we have to consider future industries, like renewable energy, artificial intelligence, blockchain technology, robotics, 3D printing, genomics, space mining, etc. With the abilities and resources of the US government, it could not only make these things happen quicker, but it could be the one profiting from them, it could be the one that brings them (sells them) to the world.
Industry nationalization not only has the potential to replace taxes, but it has the potential to grow the US GDP to astronomical unfathomable numbers, causing massive benefit to our country, and possibly to the world.
There are two problems here though. Government power and capitalist desire / availability.
What would happen if the US government had that much power? This is why in the talks of industry nationalization, we also have to mention the need for more public control over the government and the process of industry nationalization (this includes problems with the media controlling public opinion).
Would the US government eating up businesses drive corporations out of the US and into other countries? Potentially, but also potentially not. If we can maintain the biggest consumer market, increase our population sizes and increase manufacturing (which could explode here with the more implementation of robotics), and we relax some restrictions and add others, it doesn't seem like it would be much of a problem. For a more real world, but still very flawed example of this, China.
I know public opinion on China isn't very positive (and I agree with that), so people may be hesitant to consider doing activities that China currently does, but we have to admit that some of the things China is doing are currently producing better results for them than we're having, so clearly some of the things they're doing are working out well, and maybe we should consider them.
Imagine the year 2026. Imagine the years beyond that. Imagine a world that China runs. How would that look? How would that be? I don't know if I'd want to be a part of that. I think we should take the good parts of their country, add them to ours, add others, and never let ourselves fall behind. We should always be moving forwards, we should stay forwards, ahead of any other country. We have the potential to be better, and we have the potential to make the world better, I think we should use it, latch onto it, before the opportunity is lost forever.
This is all only a suggestion, of course I think it needs to be refined and all of the details need to be put in place. I'm just throwing the idea out there and seeing if it catches any bites.
Edit: I just remembered something I forgot to add in. It's important to note that robotic labor is the future. Human labor WILL become obsolete. It will dwindle, jobs will disappear. If it is corporations who own these robotic labor forces, it wouldn't put the public in a very good position. These corporations have no allegiance or restraint to our country, and even trying to add some wouldn't be foolproof in the slightest. They wouldn't need us. Who knows what could happen, what would happen. If it was the GOVERNMENT who owned these robotic labor forces, ding ding ding, allegiance and restraint to this country, that labor can and will go to benefit the citizens, we will still have houses, and roads, and food, and we may have to provide zero amount of labor for them. We'd get them, everything for absolutely free.
Industy nationalization NEEDS to happen.