The Federal Income Clearing House ('TheFICH') replaces the IRS

To abolish the Internal Revenue Service (IRS), TheFiscals have proposed establishing a Federal income reporting agency to replace it. The Department of Treasury's new role is to monitor illegitimate sources of revenue, not to tax any form of income. The IRS will no longer collect taxes. Over $450 Billion dollars in overdue income taxes arrive late to The Department of Treasury annually at 5% interest per month on the outstanding balance. This cumbersome tax collection laws, in reality, is what keeps The Internal Revenue Service (IRS) in place. Without the IRS there is no Democratic Party. There is clear evidence that The Federal Income Tax is a burden to laborers and has made millions, into criminals.

A National Income Data Agency to identify illegitimate sources of income from illegal businesses, better serves the people, than a tax collection agency. In its present role, the Internal Revenue is adversariIt's Its coercive power is in formidable adversary of the People. It is the ultimate intimidator of the Free Market through the threat of audits. It could also delay good deeds by denial of non-tax declared status. The free market thrives on a government as a partner in the economy, not an adversary. A government has limits and responsibilities. Chief among them is properly to maintain public infrastructures such as interstate roads, highways, bridges, ports and clean water infrastructure. It must preserve the integrity of US Mint and reduce counterfeit currency in circulation. Secondarily protecting patent rights, copyright infringement, and protect the authenticity of creative arts. Original thought, processes, and products are the cornerstone free market competition. Protection of market share from the false reproduction of product and service is vital to ambition and upper mobility. To encourage enthusiasm and preserve the initiative to expand the US economy at all times can never be fully assured when we tax wages. Mitigating illegitimate corporate interests like monopolies, theft, graft, and reduction of black market profiteering, is better suited for a reinvented role of US Department of Treasury.

For these reinventions to take place in the financial system, The United States Congress and the Department Treasury must redefine income to exclude wage derived from labor.Labor wage earnings once exchange for real time and place, skill and craft, and health and well-being becomes private property that cannot be taxed in life or death. These factors were uniquely the individual's and are irreplaceable with anything of intrinsic value other than compensation in legal tender or barter.  

The Federal Income Clearing House (FICH) will replace The Internal Revenue Service (IRS). TheFICH is created to eliminate the Federal coercion to collect tax on labor. Wage earners must report the source(s) of labor pay from their employment, and all earned income from their investment in stocks bonds annuities, etc., etc. TheFICH will not collect taxes. But TheFICH will have the complete prosecuting authority as the Internal Revenue Service (IRS) had. It will also have the same April the (15th) fifteenth filing deadline. "TheFICH Income Affidavit" will replace FORM 1099 or W-2 form. The sole function of the agency is to establish a baseline of financial worth of each and to disclose legitimate sources of income to compute the "TheFICH index" for determining the alternative credit score.

The establishment of a new basis for creditworthiness that revitalizes the new economy must include competition for the FICO Credit Score. TheFICH is the public record, and its database can be requested by any Lender or vendor extending credit. TheFICH will provide a more accurate depiction of individual ability to pay off debts base on average daily balances a borrower decides to disclose.

The information on the affidavit form will be verified with the outstanding debts reported by credit card companies, vendors, subcontractors, retailers, etc., to The Green Book Black Book Credit Bureau. A Certified Public Accountant (CPA) must sign Income Affidavit also known as "TheFICH Form."

TheFICH Index is determined by dividing the net average monthly balance on a Bank statement after paying fixed expenses such as housing, mortgage payments, rents, utilities, etc., multiplied by 12 months of the year, divided by your gross total annual Income. This number is your FICH index instead of a three digit number equated to repayment behavior that is punitive in nature, as is the case with the FICO score from three different agencies. 

The first annotation is TheFICH Index symbol that signifies the baseline for good or bad credit in The Green Book <>The Black Book (see homepage). These books will publish the baseline to increase or decrease credit debt limits on an individual based on actual payables and receivables on bank statements. It is also a snapshot of your debt management record. The range of the index, both TheFICH index, and the GB/BB index will be a hierarchy of four different annotated symbols for the quality of debt outstanding if any.

The second annotation is the sum of outstanding total debt exceeding 90 days in default. (To whom the debt is owed is not disclosed.) 

The third annotation is a number of days that the total debt is outstanding.

The fourth annotation is a red letter grade for the status of delinquency to determine the debtor's unwillingness to repay. These letter grades will be color coded in Yellow for a first-time delinquency that becomes Red if it is multiple delinquencies. Green no debts. The same simple symbol entry system will be used in The Green/Black Book called the 'Working Capital Index.' 

The FICH directory is distributed to the American people in a digital directory format. Its appearance will be published in a very similar in style to a paperback volume of the Yellow Pages TM phonebook. The name of Business entities will be listed by an Alphabetical order under specific trade categories. Each of the 50 states will it respective have a downloadable digital version via the electronic flash drive to be updated annually exclusively to members of the GB<>BB Credit Bureau. 

When applying for a mortgage loan, the Lender has additional choices when establishing credit on a loan application. If the 'mortgagor' chooses TheFICH data instead of the FICO score, the borrower agrees to accept a mandatory electronic deduction from a preferred checking account. This is an incentive to the bank not to use the FICO score to determine approval of the loan or monthly debt service payments. The mortgagee also accepts an accelerated foreclosure process in case of default, The mortgagor and mortgagee are spared the more costly bankruptcy court process.

When We the People, lie to a Government Authority on our 1040 or W-2 form it is called tax evasion and/or wire fraud. If you file irresponsibly, it can be accused of tax evasion. When it occurs during an IRS audit obstruction of justice. These four offenses are felonies punishable by incarceration. But when a Government Authority lies to the People by intimidation by audit it called an investigation. Denial of non-profit status it is called accounting error, or administrative delays in a press release or misinformation campaign. Government Spokesperson's political pandering to the party in power or investigative press in untruthful means its just called "politics." During Congressional Testimony and/or in total immunity an IRS official is never a criminal. This paradigm in the political lexicon is the 'business of duplicity' in Washington D.C.

Nevertheless, it has cost Americans a century of peace of mind and empowerment. The fiscal distress is not only measured regarding tax liability and frozen bank accounts but in audits for opposition groups like the TEA Party to the Executive Branch, but in eliminating of public activism. The generational stagnation of upper social mobility is the unjust double taxation on the dead is sabotage of American success story. These policies of statists have stifled mobility for generations of Americans who otherwise would not have dependent on Government subsidy. 

In the totality, this misguided tax on labor wages is the violation of the pursuit of happiness. Private property and monetary assets left in inheritance is the personification of perfecting the union. What else can it be? This American value is the dream like no other in the free world. Real freedom is the ability to pass the baton of your success to a sibling or cousin or children is the reason to have a family. This right to rise is the American Dream coming true why a politician would impede the natural human intent and desire?