Posted 9 years ago on Nov. 4, 2011, 5:55 p.m. EST by fwankie123
from Immokalee, FL
This content is user submitted and not an official statement
The marginal tax rate ought to be raised to 50 percent on income between $500,000 and $5 million, 60 percent on income between $5 million and $15 million, and 70 percent on income over $15 million.
There should be a 2 percent annual surtax on all fortunes over $7 million.
The estate tax should be 55 percent and kicks in after $1 million.
Capital gains should be taxed at 35 percent.
End the home mortgage deduction on all homes over $750,000.
Corporations should be taxed by a variable amount based on the percentage of payroll going to US workers. A small business employing 100% US workers should be taxed somewhere between 15-20% while a company that has completely shifted its production overseas should be in the 50% range. Eliminate corporate loopholes, unfair tax breaks, exemptions and deductions, subsidies and end offshore tax haven abuse.