Problem: The General Accounting Office in August of 2008 released a survey (Look at this post for location) saying that 66 percent of all corporations in our country pay no taxes.
(partially stolen from my post above last summer).
RE-statement: 66% of the corporations in the United States DO NOT PAY ANY TAXES.
Simple Idea:
TAX the TOP!
Easy Solution #1: FICA and Medicaid taxes.
Currently taxed on income from 0 dollars, to 80,000.
Solution # 1: Start the FICA/Medicaid tax to only start to kick in at $50,000.
Solution # 1A: Remove the FICA/Medicaid top limit. In other words, the people who with income Under $50,000 who will no longer pay into the pool, will be counter-acted by higher wage earners who will no longer have this tax capped. I propose that this tax be extended to all corporations on their gross income.
If you think about it logically, the concept of the corporation is to essentially take a company, and make it seem like a "person", that has many of the same rights, and obligations as a person.
Therefore, making this tax appropriate on the GROSS income will assist in revenue generation.
Easy Solution #2 (I wish...) The Milionaire MINIMUM tax:
I say (about once every two weeks I'd guess...) that we need to tax ANYONE with gross income over one million dollars, an ABSOLUTE Minimum tax, based on their GROSS incomes. So make 1M, pay 1% taxes ($10,000) as your base minimum tax.
Make 5million dollars? 50,000 is a good starting point. It keeps going up. It ain't rocket science, but VERY VERY simple.
So, you make
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