Problem: Tax policy is unfair and manipulative in every aspect. Capital pays less tax than labor. Warren Buffet pointed out he pays a lower tax rate than his secretary. Do we want to subsidize capitalists.
Homeowners pay less tax than people that rent. Do we want to favor the wealthy over the poor ?
Homeowners in high tax states are limited in deducting their taxes. Punishing those already in high tax states ? When people retire and live on fixed incomes they now have to move to lower tax states to survive financially.
People who have children pay less tax than people that do not have children. With 7.5 billion humans on the earth do we really want to subsidize making more humans ? The carbon footprint of one human dies with that human, the carbon footprints of those that have children multiply geometrically over time.
Solution: Nobody likes taxes, but if we have to pay them let’s make them fair !
My suggestion is that everyperson pay a total of 20% in taxes ( 15% Federal tax and 5% State Tax ).
Corporations pay the same rates on a Gross Profits tax (15% Federal Tax and 5% State Tax) Eliminate all deductions and credits which are for all sorts of manipulations of our citizens. If you believe in capitalism, the markets will balance demand and supply !
So Warren Buffet pays 20% of his gains while his secretary pays 20% on her earnings. (Capital vs Labor). The States must live within the 5% income tax they get from the people. All states would have the same tax rates, eliminating the need to move from the state you lived in your whole life. The Federal government would have to live within their 15% of all incomes and in the cases of emergencies, as we have seen, print the money they need.
Your Ideas: If you have suggestions please send them to Ken@AmericanPoliticalParty.US