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Would This Tax Plan Work?

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Would This Tax Plan Work?

Postby Ceapmann » Sun Oct 08, 2017 9:20 pm

Personal income taxes: Exempt the poverty level income for families according to size of family ($11,000 for a single person, $14,000 for a two person family, etc.) Deduct interest on one home. Deduct health insurance premiums. Tax all new income at a flat rate, including capital gains and interest gained as well as salary.





Corporate taxes: Tax outsourcing companies for sales in US. Eliminate loopholes, subsidies, credits, etc., but tax at a lower rate for businesses remaining in the US.
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Would This Tax Plan Work?

Postby Nairne » Mon Oct 09, 2017 12:42 am

There already IS an exemption for each person in the family, and a standard deduction, which comes very close to the numbers you want,

Home mortgage interest is deductible,

Define "new" income.
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Would This Tax Plan Work?

Postby Corbitt » Mon Oct 09, 2017 3:47 am

add tax deduction for interest on credit cards with an expiration date that lands between elections and Im on board.

Consumption drives the economy.
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Would This Tax Plan Work?

Postby Fontana » Mon Oct 09, 2017 4:45 pm

Personal income taxes: Exempt the poverty level income for families according to size of family ($11,000 for a single person, $14,000 for a two person family, etc.) Deduct interest on one home. Deduct health insurance premiums. Tax all new income at a flat rate, including capital gains and interest gained as well as salary.

Corporate taxes: Tax outsourcing companies for sales in US. Eliminate loopholes, subsidies, credits, etc., but tax at a lower rate for businesses remaining in the US.
Fontana
 
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Joined: Sun Jan 12, 2014 4:14 am

Would This Tax Plan Work?

Postby Daiki » Wed Oct 11, 2017 8:17 pm

Yes that would work very well.
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