The_Doctor
SilentCal1924
Sr. Member
Posts: 3,272
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« on: March 25, 2017, 04:39:34 PM » |
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« edited: March 25, 2017, 04:43:54 PM by TD »
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1. Three tax brackets of 35% and 20% and 10%. Those making adjusted over $500,000 pay 35%, married couples making over $800,000 pay the top rate. 2nd rate is for the middle class starting at $50,000 single and $100,000 joint. The last would be for those making $25,000 single and $50,000 joint. Nobody pays taxes below these rates.
2. Eliminate all deductions & keep a single standard deduction if you're in the middle and lower classes.
3. Set the estate and gift tax at 65% at all things given at over $30,000 inflation adjusted per year. You may bequeath up to $500,000 in one time gifts tax free per lifetime.
4. The Corporate tax rate halved to 15%. End all corporate deductions. (Corporations defined as businesses with over 15 workers).
5. Eliminate paying two halves of the self employed taxes. Just pay 1/2.
6. Those making below $50,000 single or $75,000 joint pay a reduced FICA and Medicare tax. The FICA tax cap is lifted to 90% of income.
7. Expansion of the Earned Income Tax Credit.
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