NESARA which stands for the National Economic Stabilization and Recovery Act is a bill which was allegedly passed during a secret session of the United States congress and signed into law by Bill Clinton before he left office. Supporters of NESARA claim that it has provisions which would entirely reorganize the US economy and government. The bill is sometimes known as the National Economic Stabilization and Recovery Act or National Economic Securities and Reclamation Act by supporters. NESARA has no support from current members of the United States Congress. NESARA was authored by Harvey F. Barnard to address the inefficiencies he saw in all three of these areas. As a proposal, NESARA competes as an alternative to other monetary and fiscal policy reform proposals such as the Monetary Reform Act, fairtax, flat tax, and the value added tax. NESARA has not been introduced in the Congress. NESARA proposes to rewrite current banking rules by abolishing compound interest for secured loans with a repayment schedule. NESARA would allow banks to collect a "monetization fee" for such loans, calculated according to published rules, to be collected after the principal is paid. NESARA proponents claim that banks would find themselves becoming the public service they were meant to be, instead of continuing to separate the rich from the poor by means of current compound interest equations.

Tax advantage is an advantage bestowed by legislation that reduces a
tax on some preferred activity. Basically it refers to the economic bonus
which applies to certain accounts or investments that are, by statute,
tax-reduced, tax-deferred, or tax-free. The most obvious examples are
Retirement plans, but investments in many state or municipal bonds can
also be exempt from certain taxes. Governments establish the tax
advantaged status of these investments to encourage private individuals to
contribute money when it is considered to be in the public interest. The
average age of the population in many countries is increasing
tremendously and this can put pressure on pension schemes. For example,
where benefits are funded on a pay-as-you-go basis, the benefits paid to those receiving a pension come directly from the contributions of those of
working age. If the proportion of pensioners to working-age people rises,
the contributions needed from working people will also rise proportionately.

Value added tax or VAT as it is commonly known as is a form of sales
tax that is levied on businesses at all levels of the manufacture and
production of a goods or services and based on the increase in price, or
value, provided by each level. Because the consumer/customer ultimately
pays a higher price for the taxed commodity, a VAT is essentially a hidden sales tax. Originally introduced in France (1954), it is now a
major part of the tax structure of most Western European nations. In the
early 1990s the U.S. government considered instituting a VAT to fund
national health care programs. VAT differs from a conventional sales tax
in that VAT is levied on every business as a fraction of the price of each taxable sale they make, but they are in turn reimbursed VAT on their
purchases, so the VAT is applied to the value added to the goods at each stage of production. VAT was invented by a French economist in 1954.
Maurice Lauré, joint director of the French tax authority, the Direction générale des impôts, as taxe sur la valeur ajoutée (TVA in French) was first to introduce VAT with effect from 10 April 1954 for large businesses, and extended over time to all business sectors. In France, it is the most important source of state finance, accounting for approximately 45% of state revenues. Revenues from a value added tax are frequently lower than expected because they are difficult and costly to administer and collect. In many countries, however, where collection of personal income taxes and corporate profit taxes has been historically weak, VAT collection has been more successful than other types of taxes. Value added tax (VAT) is a sales tax levied on the sale of goods and services. In some countries, including Singapore, Australia, New Zealand and Canada, this tax is known as "goods and services tax" or GST. VAT is an indirect tax, in that the tax is collected from someone other than
the person who actually bears the cost of the tax.

A sales tax is normally a certain percentage that is added onto the
price of a good or service that is purchased. It is a tax on consumption
because the tax is collected from the customer and is a tax that is to
be collected by all retailers and certain service providers when they
make taxable retail sales. In the United States, it is nearly always
explicitly added on and not included in the price. Sales taxes are a state or locality imposed percentage tax on the selling or renting of certain property or services. Sales taxes can be included on invoices shipping and/or billing to the following states: Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, Virginia and West Virginia. Please note that the sales tax (if applicable) included in your total is an estimated amount based on the maximum combined state and local taxes listed for your state. If a person purchases property from an out-of-state seller, sales tax is not due, but rather the customer may owe a so-called use tax. Unlike value added tax, sales taxes have a cascade effect', i.e. the amount of tax borne by the ultimate taxpayer is greater than the rate of tax multiplied by the cost of the inputs. Sales taxes in the United States are assessed by most states except Alaska, Delaware, Hawaii, Montana, New Hampshire and Oregon. In some cases, sales taxes are also assessed at the county or municipal level. While there is no national sales tax in the United States, the most popular tax reform proposal in Congress is the Fair Tax Act, which would replace most federal taxes with a national retail sales tax and monthly tax rebate to households of citizens and legal resident aliens. In New York if a bidder claims non-applicability of the New York State and New York City Sales Tax, the appropriate certificate (resale or exemption) with identification number (if any) must be included with the sealed bid. If the certificate is a resale certificate, it must be a simple-purchase certificate. Sales tax will be charged if no exemption certificate is attached to a bid. The fraction of the total taxes collected as sales taxes typically varies from about 25% to 50% of government revenue. Nearly all sales taxes have a large list of goods and services, varying from state to state, that the tax is not collected on.

Payroll tax generally refers to a tax which employers are required to
withhold from employees' paychecks which is also known as withholding,
Pay-As-You-Earn (PAYE) or Pay-As-You-Go (PAYG) tax. It can also refer to
taxes directly related to employing a worker paid from the employer's
own funds, which may also be fixed charges or proportionally linked to
an employee's pay. In the U.S., employers are required to withhold
federal income tax, Social Security tax, and Medicare tax. Together, the
Social Security and Medicare taxes are known as the FICA tax. In some
places, employers may be required to withhold state income tax, or even
city income tax. The employer has each new employee complete Internal
Revenue Service (IRS) forms' W-4. You will use this form to calculate the
amount of federal income tax to withhold from the employee's wages. Most
of the states have income tax structures that are based on the federal
system, so you will use the W-4 to calculate the amount of state income
tax to withhold as well. The employer also must pay State and Federal
Unemployment Taxes (SUTA and FUTA). The FUTA rate is 6.2 %, but you can take a credit of up to 5.4% for SUTA taxes that you pay. If you are
eligible for the maximum credit your FUTA rate will be 0.8%. The wage base for FUTA is $7,000. You will stop paying FUTA for each employee once
his or her wages exceed $7,000 for the year. You will need to check with
your state about SUTA tax rates and the wage base. Generally, your SUTA
tax rate is based on the amount of unemployment claims that are filed
by employees that you have terminated. When your business is new, your
SUTA tax rate starts at the maximum and declines if you build a history
of few claims.