The Financial Freedom Act (FFA) is a proposed bill for Congress that would positively impact all citizens of the United States and upgrade the financial operating system of the American economy. The FFA would replace all current taxes with a small transaction fee and upgrade our banking system by turning the Fed into a true central bank that would provide interest-free mortgages to U. S. citizens.

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By transitioning the federal government’s revenue away from a tax of up to 39% on the $25 trillion we citizens earn each year to a small fee of just 0.25% on the $9,200 trillion that changes hands in the monetary economy each year, we can:

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• free citizens from the onerous taxes they currently suffer from,

• eliminate corporate taxes,

• end the government’s chronic growing deficit and turn it into a surplus instead,

• correct the current overburdening of American citizens with a basic package that includes universal income, healthcare, education, and childcare, and

• enable the federal government to pay off its debt in less than 10 years, ending the growing interest burden that we suffer from today.

 

By upgrading our banking system so the Federal Reserve serves as a true central bank, owned by the people and for the people, the Fed can be a source of capital for our lending needs while effectively managing the money supply, and its member banks can act as financial service providers and intermediaries to the Fed. By doing so, we can:

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• eliminate the problem of fractional lending and its impact on the money supply,

• make interest free loans and mortgages available to citizens,

• provide a mix of interest free loans and equity for small businesses and commercial finance,

• develop a better alignment between the material and monetary economies, and

• enable a system for real time money supply management that will better control inflation.

 

The Financial Freedom Act would significantly improve the standard of living for the stagnated 80% of our population while leveling up the overall quality of life for all American citizens, thus providing a strong and robust economic foundation for the future of the United States.