A Simple Smart Plan To Abolish Income Tax and Create Jobs For Everyone Offers a simple smart solution to the combined problems of an unstable economy and high unemployment that plagues the American Economy. It introduces a proposal to use taxation as an instrument for the stabilization of the economy rather than for generating revenue only. The instruments for this are abolishing the individual income tax, replacing the business tax by a simple flat tax on shared profit with a high tax-deduction for every employee, coupled to a similar measure for productive investments. The intended result would be an economy that hovers around maximal employment. This new philosophy about taxation closely mimics the existing situation but avoids its errors. The suggested solution is beneficial to businesses, the nation and all taxpayers.