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Originally Posted by aceventura3
O.k. I'll bite.
What would you do to tax rates if you could make the final decision?
Income rannge / Tax rate
$0 - $20,000 / ??
$20,001 - $40,000 / ??
$40,001 - $60,000 / ??
60,001 - $80,000 / ??
$80,001 - $100,000 / ??
$100,000- $200,000 / ??
>$200,000 / ??
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A flat tax rate of 15% on all incomes between $100,000 and $5,000,000 with only 2 deductions, mortgages and 100% tuition for college students would be untaxed.
Under $100,000, same 2 deductions with a 10% tax.
Anything over $5,000,000 would be 25% with absolutely NO deductions.
The rates would be on ALL income from bonuses, to stock options, to income properties, to capital gains..... everything.
But I am not an economist, I think if our government truly wanted to leave a better country and not buy votes with tax cuts and truly looked at what they need..... they could find a solution that may hurt us, may mean sacrifice short term..... but long term will save this country and make it better.
I'm sorry but leaving a better country, a better possible future and a better life for my kids and knowing that my grandkids will have that oppurtunity also, means more to me than watching us destroy ourselves with greed and debts that will take generations to pay off.