Compensation Scheme to Eliminate Income Tax

Radical Changes, Inc. based out of Elbonia has decided to follow a new method for compensating employees, company credit cards. A given card will have a monthly expenditure limit of the employees' salary so instead of getting a regular paycheck, the employee gets a credit limit bump.

Although unlike a banks' credit limit Radical employees' credit limit goes down as they make purchases. So an if you had a credit limit of say 10k after making a purchase of 2k, you credit limit would now immediately appear as 8k.

If you however felt like withdrawing the money and keep it in your savings account to generate interests or if you didn't trust Radical Changes, Inc. Then you could fill out a 1099 at tax filing time and pay taxes on that income.

All in all, this is a great idea and I hope other companies endorse it too.