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Cal-Poly Student Awarded the 2019 #ABetterEconomy Thesis Scholarship  

BOULDER, CO., January 15, 2019 – The Foundation For A Better Economy (ABetterEconomy.org) is proud to announce Alex Ebrahimi of Cal-Poly as its 2019 Impact Thesis Scholarship Winner for the United States.

Focusing on the ethical issues associated with tracking financial transactions, Alex’s thesis discusses automation processes and big data invasiveness, which are a natural side effect of a Payments Tax.

“The kind of change we are proposing will bring efficiencies to the biggest economic engines of our world, but not without the continued rise of privacy issues.  We believe it is of the utmost importance to explore these concerns as we grow into #ABetterEconomy so that humanity is changed for the better, not just changed” said Tony Siebers, Chief of Staff for the Foundation.

 “In considering Alex’s thesis in the context of a set of strong contenders, Alex was a standout candidate for our scholarship,” said Emma Dahl, a trending millennial economist (@economicsemma) and an associate program analyst for the Foundation.  “She has the potential with this work to contribute impactful and original research that is not only helpful to us, but is also relevant in the larger picture of data and finance.”

Along with a scholarship cash award of $1,000, Alex’s thesis will be highlighted via social media and through the organization’s global voice.  Alex will also have the opportunity to serve in an internship later this year and begin building a #abettereconomy on the social media platform of her choice.

The winner as well as other applicants were notified directly. The Foundation plans a personalized awards service next month in California Bay Area.

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The Foundation For A Better Economy, is a Colorado-based 501(c)3 corporation.  Our Vision is to enable a more prosperous and equitable economic model that can evolve to the changing dynamics of tomorrows social needs.  Through education and public forum discussions, #ABetterEconomy aims to be an agent of positive change.

 

Foundation for a Better Economy Advocates Replacing the Income Tax

The Foundation is promoting the payments tax plan, which would have a much lower tax rate of less than 1 percent.

BOULDER, CO — The Foundation for a Better Economy is a nonprofit organization whose mission is to guide solutions for the modern economy, with a focus on replacing the income tax with a payments tax.

A payments tax would tax the whole system, including the untaxed financial sector, which represents $5 trillion in payments each year.

The foundation seeks to educate, inform and engage Americans about the economy and alternatives to the income tax, which unduly burdens ordinary Americans.  The foundation promotes citizen forums, policy initiatives and national conversations on the economy to educate people about the need to modernize our taxation system.

Modern technology has allowed the U.S. to improve production, but the financial system is outdated and holds back the economy. The foundation is proposing fundamental shifts to taxation to ease debt and keep pace with the nation’s accelerated production capacity due to technology.

“The problem with our current tax system is that we primarily tax one source: income. Our system of taxation runs by taxing a metaphorical lake. Instead we should tax the whole water cycle  – the money should be pulled from the entire economy,” said Scott Smith, the founder of the foundation.

The Foundation for a Better Economy is proposing a payments tax, which would have a much lower tax rate of less than 1%.  Compare that ultra-low rate to an average of 25% American now pay with income taxes.

The payments tax would tax the flow of money through the financial sector of mortgage-backed securities, derivatives, bonds and notes. The financial sector is largely untaxed and invisible to most Americans.

The foundation is currently promoting the payments tax plan as part of a larger upgrade to the U.S. financial system. Under a modernized financial plan, the U.S. would have enough additional revenue to retire the national debt and pay for new services, such as free health care, free college tuition and a uniform basic income.

In 2015, there was a total of $5,000 trillion in payments in the economy. By contrast, the income of all Americans amounted to only a third of 1% of the total payments that occur in the nation each year (around $16 trillion).

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For an interview with Scott Smith, founder of the Foundation for a Better Economy, email info@abettereconomy.org.

To learn more about the vision for updating America’s financial system, read Scott Smith’s  book, The New Operating System for the American Economy. Visit the Foundation for a Better Economy website.