Feb 23, 2010 - Introduced in House. This is the original text of the bill as it was written by its sponsor and submitted to the House for consideration. This is the latest version of the bill currently available on GovTrack. HR 4646 IH 111th CONGRESS 2d Session H. R. 4646 To establish a fee on transactions which would eliminate the national debt and replace the income tax on individuals. IN THE HOUSE OF REPRESENTATIVES February 23, 2010 Mr. FATTAH introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, Rules, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To establish a fee on transactions which would eliminate the national debt and replace the income tax on individuals. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ‘Debt Free America Act’. SEC. 2. FINDINGS; PURPOSES. (a) Findings- The Congress finds the following: (1) The current tax structure creates economic distortions that limit growth and job creation. (2) The estimated cost of compliance to taxpayers is five billion hours and approximately $200 billion. (3) Restructuring the tax code will promote economic prosperity. (4) Replacing existing Federal taxes with a fee on transactions eliminates systemic inefficiency that plagues the current tax code. (5) The United States, from its beginning in 1790 to the present, has been free of a national debt for only two years, 1834 and 1835. (6) The national debt has grown from $75.5 million in 1790 to $5.8 trillion in 2008. (7) Expressed as a percentage of gross domestic product (GDP), the national debt reached a high of 108.6 percent of GDP in 1946. (8) After 1946, the national debt as a percentage of GDP declined, reaching a low of 32.5 percent in 1981.... More here...~~~> Seems like this is worth a try huh:?: M.E.