Ideas for tax reform

[Mr.Phips]

I am wondering what many folks' ideas are for tax reform are here.

I(and most Democrats should be) am adamantly opposed to anything that would get rid of or reduce any deductions for middle class families(which I am defining as those making under $250,000 a year).  I would target any tax relief towards these people, possibly by expanding exemptions and getting rid of the 10% income threshold for deductability for medical expenses. 

I would also keep most current rates exactly as is.  With these expanded deductions, 99% of Americans would see their taxes go down. 

What I would do is add a 50% top marginal bracket for those making over $2,000,000 a year.  There are about 200,000 of these people and this new bracket(along with the increase to 39.6%) will bring in about $150 billion in new revenue annually. 

On the corporate side, many changes can be made and here is where I would support lower rates.  One thing I would do is to create a flip switch to a CEO's personal return(their 1040), which flips on a 100% marginal top rate on any income(dividends, wages, ect) on any income above $500,000 a year when the company's federal taxable income on the 1120 falls below that amount. 

[Mr.Phips]

Abolish the IRS.

Then I'd very likely be out of a job.