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The top 1% that is the people worth billions should be taxed at the same rate that the top 5% working professionals and small business owners are and that is about 40%. To accomplish this raise the Capital Gains tax to 40% and increase the inheritance tax for an estate of 5 million or more to 40%. Take off the social security cap.
Tax Decreases on Multinationals. Lower the taxes on multinationals to 10%. This would encourage multinationals to move their business to or move back to the U.S. thereby creating more jobs and creating more revenue using the tax from the first paragraph.
It is fairly simple. WHy don't we do it? I am not saying we would still not need to make cuts in spending, but we also need to make some tax changes. The above recommendations is the most painless and would actually create jobs.
The top 1% that is the people worth billions should be taxed at the same rate that the top 5% working professionals and small business owners are and that is about 40%. To accomplish this raise the Capital Gains tax to 40% and increase the inheritance tax for an estate of 5 million or more to 40%. Take off the social security cap.
Tax Decreases on Multinationals. Lower the taxes on multinationals to 10%. This would encourage multinationals to move their business to or move back to the U.S. thereby creating more jobs and creating more revenue using the tax from the first paragraph.
It is fairly simple. WHy don't we do it? I am not saying we would still not need to make cuts in spending, but we also need to make some tax changes. The above recommendations is the most painless and would actually create jobs.
That in itself is what has led to the destruction of the USA. It promotes illegal aliens to be drawn to the foreign companies. Further displacing the US workers.
No foreign owned businesses on US soil, unless they are taxed more than an American.
That in itself is what has led to the destruction of the USA. It promotes illegal aliens to be drawn to the foreign companies. Further displacing the US workers.
No foreign owned businesses on US soil, unless they are taxed more than an American.
What? Do you know what a multinational is? I am talking about Pfizer, Oracle, Microsoft. A lot of these multinationals, which started in the U.S. are moving to Ireland because of their attractive 15% tax bracket. I have no idea as to what you are talking about.
We could get rid of the spending in the tax code, lower rates for everyone and business, and put a small vat/sales tax on everything.
That is a regressive tax and does little to tax the very wealthy who spend much less as a percentage of actual income. It would not increase the total amount of revenue and would hurt the economy as it penalizes spending, which amounts to 75% of the GDP. Bad idea.
Tax all income from all sources over the 90th percentile at a rate that will pay current operating costs and pay down the deficit in 20 years without any additional borrowing. Place a tariff on imported goods high enough to eliminate any prices differences to domestically produced products and excise taxes on legalized recreational drugs.
Taxes are not stealing. They are just charging a sufficient rent to pay for the protections you receive as a citizen. I mean what is it worth to a gazillionaire to be protected from the possibility of an Afghani invasion?
the 'cap' is a dual cap...not only is it a cap on what is paid in, but also what is paid out
the reason the guy who makes a million only pays the 6% on the first 100k...he doesnt need to 'invest' in a 'government reitement safety net'
you increase the cap, to get rid of the cap, and the PAYOUT increases
an example:........the guy making 100k .....pays 6k into SS...and gets the top amount of 2+k
........................the guy making a million..pays 6k into ss...and gets the top amount of 2+k
take the cap off and:.......the guy making 100k .....pays 6k into SS...and gets the top amount of 2+k at payout per month
....................................the guy making a million..pays 60k into ss...and gets the top amount of 20k+ at payout per month
taking off the cap would be a big mistake, making SS even less viable
The top 1% that is the people worth billions should be taxed at the same rate that the top 5% working professionals and small business owners are and that is about 40%. To accomplish this raise the Capital Gains tax to 40% and increase the inheritance tax for an estate of 5 million or more to 40%. Take off the social security cap.
Tax Decreases on Multinationals. Lower the taxes on multinationals to 10%. This would encourage multinationals to move their business to or move back to the U.S. thereby creating more jobs and creating more revenue using the tax from the first paragraph.
It is fairly simple. WHy don't we do it? I am not saying we would still not need to make cuts in spending, but we also need to make some tax changes. The above recommendations is the most painless and would actually create jobs.
Well there are about 400 billionaires in the US. 1000 in the world. They average out to 3.5 billion in net worth each. How in the hell are you gonna pay off a 14 trillion dollar debt with that let alone the 1.5 trillion dollar deficit? YOu don't make any sense.
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