Taxes: Progressive, Flat or Fair?
We have a progressive tax system in place:
What about Corporate Taxes?
President Obama just commented on this,
Tax Cuts do not create jobs: Corporations are now viewed as people, per SCOTUS's Citizens United vs FEC,
The Death of Kansas's Conservative Experiment and These are the people who suffered when Kansas’s conservative experiment failed and Kansas’s conservative experiment may have gone worse than people thought
So why not tax them as PEOPLE? My stance on taxes is I don't know until I can work with the OMB and some of our nation's leading economist and tax experts (not corporate lobbyists) I can promise fairness, transparency and a willingness to try to do what is right for YOU.
One constant about taxes. They are always raised 'for the kids' but then moved somewhere else so they can come back and ask for even more money 'for the kids': When the oil boom went bust, Oklahoma protected drillers and squeezed schools and Why don't we let the school board raise taxes?
I know one thing. Our income needs to start matching our expenditures. Saudi Arabia's big U.S. stake finally revealed
I propose we keep our Progressive Tax. Keep the Earned Income Credit in place for the lowest tier. We don't need to return to a 91% tax rate, Income tax rates were 90 percent under Eisenhower, Sanders says. We do need to slightly increase the rate for the top 1%, not to redistribute wealth, but to pay our bills and fix our infrastructure, which will generate jobs.
Lets look at some other's plans: The Striking Contrast Between the Trump and House Republican Tax Plans
Instead of GOP's 12-25-33 rates, perhaps we get the CBO to run the numbers on 10-20-30-40 on a scale of $0-poverty-line, poverty-line+$1 to $60,000, $60,001 to $400,000 and $400,001 and up. Tweak to generate enough revenue to produce income to reduce deficit, in conjunction with reducing the budget where possible. Remember, will will keep the Earned Income Credit in for low-income families. Capital gains and other taxes will be looked at as well to see if those rates need to be adjusted or policies changed.
"The $65 billion gain is nonetheless real – rest assured of that. But only $36 billion came from Berkshire’s operations. The remaining $29 billion was delivered to us in December when Congress rewrote the U.S. Tax Code."