Income to the state, will come from rentals for some units, our construction process means that the kingdom ends up owning half of all islands, and this is a major income producer replacing income tax. Licenses for some services, a small duty on tourism, a small fixed annual corporation registration fee, and some other duties. Some items produced within the kingdom may also carry small duties.
The idea is to have few taxes and to keep these as small as possible, it is very much a low tax economy.
Primary care services
All employees will have to take out health insurance covering themselves and their family. Employers will have a conceptual tax on employees within the kingdom. but this will be converted straight into subsidies to medical insurance, rather than paid to the government. The subsidizes will be available providing the insurance company meet set criteria in the policies they offer, including being available to all employees with no variation based upon age, medical history or exclusions and having a flat rate for all, therefore not increasing with age or history. Working people who have spent a set number of years within the kingdom will be able to continue their insurance at the same rates, with a subsidy from the state.
Older people who come to the kingdom, for retirement, or stop working will be expected to provide for health care by insurance or a bond. Health trusts and insurance companies will be encouraged to come up with a variety of choices.
Education will be provided and be compulsory up to secondary level, will be state managed, but contracted to trusts to run. The total cost will be carried by the state.
Local communities will have a very small property tax to cover necessary services that are not able to be paid in any other way. Insurance and state loan schemes will be able to be used to upgrade, rather than offer an alternative to the basic services. Communities will run in a similar way as set out on the New Atlantis residential community site.
Visitors requiring medical treatment will be expected to have medical insurance.
Services for disabled members of the community will be provided by agreeing a budget for them or their carers to spend across available services.
Services used by residents will be paid for directly, and a choice will be available.
In most cases income will cover services for example an airport landing tax on passengers, plus landing fees will cover the cost of air traffic control and running the airport by corporations or trusts. A small tourism tax will cover the security personnel we need, we will have no police force or prisons. We will have no military force.
Unemployment will not be paid as such. Support will be provided that will allow those who need help to get back to work, including single parents. People will be expected to join a community trust that will allow each member to support the group until they are able to fend for themselves.
Low tax economy
We propose no income tax, corporation tax, or routine import duty. We will have no army of government employees, or local government employees, those who volunteer to serve the community on councils or trusts will be completely unpaid.
Our formula will result in the state having more income than is needs, so that it can fund new developments and offer grants, for example to those undertaking sales campaigns off the island, for promotion of tourism, and for individuals who want to go on courses or to university elsewhere.We intend to be generous to those who genuinely need help, but not to those who do not.
Copyright New Atlantis.