Hatman 🍁
EarlAW
Atlas Star
Posts: 26,003
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« Reply #1 on: July 12, 2006, 12:55:05 AM » |
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Tax Increase Bill
1. All income up to $500,000 shall be subject to social security taxes. 2. Clause 5 of F.L. 11-6, National Sin Tax Act, is amended to read: "The taxes implemented by this act are an addition to, not an overriding of, any existing federal and regional taxes that are placed on the aforementioned products." 3. An estate tax is established. Each portion of the value of the estate shall be taxed at the following rates, with each rate corresponding to the tax rate on only the portion of the estate that falls in the appointed range: a) $0-$5,000,000 – 0% b) $5,000,001-$10,000,000 – 3% c) $10,000,001-$17,500,000 – 4% d) $17,500,001-$25,000,000 – 5% e) $25,000,001-$50,000,000 – 7.5% f) $50,000,001-$100,000,000 – 10% g) $100,000,001 and above – 12.5%
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