You have been made the ruler of independent nation and just like Alexander Hamilton, are struggling with revenue for the development of your nation. As a result, you must design a simple tax system to...

You have been made the ruler of independent nation and just like Alexander Hamilton, are struggling with revenue for the development of your nation. As a result, you must design a simple tax system to raise capital to cover costs such as military, development of infrastructure, education, and healthcare. there are 5 key areas of governmental spending: healthcare, retirement benefits (social security), national defense, interest on potential debt, and other areas that include education, housing, transportation and agriculture (aka infrastructure).You should however be realistic and consider how these areas would develop if your government chooses not to invest in them.Potential sources of tax may include individual taxpayers (or families) and businesses. How these resources are taxed or which resources are taxed are also completely your decision. The Gross Domestic Product (“GDP”) of your nation stems from e-retail businesses manufacturing and delivering goods to other nations across the sea using drones. The social media companies still run apps that are used around the world. Both industries continue to be owned and operated by key shareholders that are very profit motivated. The relationship between your new nation and other nations is not favorable. So be careful of potential trade issues and the negative impact on business a significant tax on sale of goods to other nations may create. You need to balance the building of a new nation with those of creating better relationships across the sea.Your deliverable should be at least 2 pages (single spaced) and include:A paragraph on the overall objective of your tax plan. At least three paragraphs explaining your tax system including, who is subject to tax,what base(s) are used for determining tax and what type of rate (you may include ranges as estimated rates). In your base you may want to include preferential items of income or deductions depending on the taxpaying entity.A few paragraphs explaining how your nation will handle the 5 key areas that most governments support. In other words, whether you think the nation should privatize certain areas, if they are not privatized how the revenue you collect from taxation would support each area and which would be prioritized.