Forum Post: Do NOT Adopt These Demands (taxes)

I fully support the idea of not crystallizing Occupy into demands, structure, etc. etc. The movement is just beginning. It is growing. It is BECOMING.

So I am not proposing these demands as demands. Just to share some ideas.

The complexity of US tax law allows the 1% to keep accumulating more and more and choking the 99% and preventing the services that are necessary for the survival of the 99% and in fact the USA itself.

To remedy that we need TWO individual, personal taxes:

ONE income tax, no payroll tax, no estate tax:

• treating all income the same: earned, capital gains, interest, dividends, inherited, gifted, etc.

• ONE filing status

• ONE deduction of $100,000 (if you can't live on $100,000 then you've got serious other problems)-- no deductions for depleting oil wells, not growing alfalfa, mortgage, medical or anything-- "just" the $100,000

• ONE tax rate of 60%.

ONE non-tangible assets tax:

• tax on stocks, bonds, other investment instruments
• one deduction of $1,000,000
• one rate: 0.5%

This would be more than enough to fund medicare for all, social security forever, quadruple green technology and other scientific research. It would reduce wealth inequality and still leave plenty for the billionaires.