This is a counter to the pledge that many republicans have signed to never raise taxes and, it is a fair way to help solve the problem in Washington.
1. All money made will be taxed at a given rate - Capital Gains, income, interest, stock dividends, Stock options are all income and should be treated as such, there will be no special rate on this kind of money made.
2. No company/corporation making more then 110,000.00 a year in profit shall be allowed to file as personal income tax. By filing as personal income they only have to pay the Social Security and Medicare on the first 106,000.00 which allows them to avoid paying their fair share of these taxes.
3. Corporate taxes should be cut to 20% flat tax, no deductions no subsidies the only tax break they shall receive is if at least 90% of their workforce is located in America at which time they pay a 10% tax rate.
4. Personal taxes should be set at a certain amount, no deductions no special treatment. The first 20K for a single person and first 40K for a couple should be tax free along with all income made over the age of 65 including social security. Tax rates should be set at a fair amount for each group (just an example)
After the 20K or 40K deduction
Single under 50K couple under 75K 5%
Single 50K-100K couple 75K-150K 10%
Single 100K-250K Couple 150K-250K 15%
Single 250K-1 million couple 250K -1 million 20%
Over 1 Million 25%
5. The cap should be lifted on Social Security and Medicare and will immediately make each program solvent
6. Any person or company caught sheltering money over seas to avoid paying taxes shall have 100% of that money seized and used toward our national debt.
1. For every austerity cut that effects the poor , children or seniors like Medicare, Medicaid, Social Security or Food Stamps must be met with a ONE for ONE match of tax revenue. If you are going to ask the poorest and most vulnerable among us to sacrifice we’re just asking the same from the people who are well off.
2. Medicare and Social security should be means tested, someone worth over 10 million dollars should be receiving Social Security but should be allowed to buy into Medicare.
Spending Tax Dollars
1. No subsidies or loans to companies headquartered outside America or companies who already make large profits. If loans are given and a company fails the Tax payer must be the first in line to receive their money back.
2. No Government contracts to companies located outside the United States of America if the same work can be done in America. If after receiving a government contract the company moves to another country their contract will be null and void.
3. Companies who receive government contracts must open their books to the American people and list EXACTLY what our money is spent on, any company who tries to defraud the government or gets charged with any felonies while receiving government money will automatically have their contract become null and void and will be banned from future government contracts for a period no less then 10 years.
4. The government will not issue no bid contracts, all contracts will be put up for bid and awarded to the lowest bidder.
5. No company who employed a congressman, senator, or white house staff member shall be awarded any government contracts while said employee is in office or for a period of 5 years after leaving. No politician shall be allowed to work for or lobby any company that received government money for a period of 10 years after they leave office.
6. Any pay raises or increase in benefits for politicians must be put to a vote by the American people, you work for the people and shouldn’t get to decide your own pay and benefits.