Retired finance professor Michael Rozeff offered this suggestion on LewRockwell.com, which is a good source of creative ideas.
You may think this is utopian, bit it’s the thought that counts.
This is my imaginary fantasy, not a serious proposal. Still, it shows the tremendous inefficiency of the present system.
What taxpayers should do is pay off the members of Congress to close down the government and keep it closed. Pay each Congressman, shall we say, $10 million. That’s $5,350 millions. The total cost will be $5.35 billion. That’s all! There are 50 million taxpaying households in America, shall we say. This is only $107 per household. For a trivial sum, we could bribe them or pay them this extortion. Ask yourselves what holds us back from doing something like that.
In 2009, we paid federal income taxes of $865,863 millions. For what???? Compare that to an efficient bribe of $5,350 millions to get taxes down to ZERO. It’s 161.84 times greater. This is what we in finance view as an “arbitrage” opportunity. One reason it is not exploited is FEAR. The state controls us, even though we outnumber them tremendously. Another reason is that most people actually believe in this government. A third reason is that they simply do not realize how much better off they’d be without it. On income taxes alone, they’d be about $860,000 million better off, after paying the bribe. That’s $17,200 per taxpaying household per year, year after year after year (assuming 50 million such households.) Again,with a finance twist, what is the present value of $17,200 per year if it’s a perpetuity? (30–40 years will be close to this.) At 3 percent interest, its $516,000. In other words, every taxpaying household on average would become halfway a millionaire by closing down the government.
I am willing to be less radical. I would let Congress give itself a $1 million bonus for each law it repeals. Congress would forfeit $1 million for each new law it passes.
For more great ideas on how to shrink government, click the link.