Simple tax plan that will make America great.

[tecelote]

1. Raise taxes on the rich
2. Cut taxes for the poor and middle class
3. Leave corporate tax rates where they are

The taxes raised from the rich will allow us to re-finance all the programs that have been cut recently and can put billions in to infrastructure projects creating jobs and increasing everyone's standard of living.

Cut $5,000 in taxes for every household earning below $100,00. This money will go directly in to the economy and much of it locally. This will create jobs as well and increase everyone's standard of living.

Corporations are doing better than ever which is why there is no reason to change their tax rates but we should close loopholes that allow offshore tax havens.

Instead of trickle down economics, this is "we're pissed off" economics. We need to make America about Americans.

[zipplewrath]

1. Not quite

I have no objection to the 5K cut, but unfortunately, an enormous amount of that will merely go to paying down individual debt. Which of course is good for the debtors, but generally doesn't much for local economies. Typically, you want to focus on those making about 50K or less. It's been shown that in those cases, often the money DOES go straight back out into the local economy.

It's kinda funny, the GOP has some proposals that the democrats like. Increasing the minimum income and the child tax credit among them. But it's the stupid stuff that's gonna get in the way. Crap like the tax on grad students and huge cuts for the highest income people.

[tecelote]

2. Good point.

Those making less than $50,000 definitely deserve a break.

While the Republicans claim that business needs to sustain a certain amount of growth, they ignore that it's citizens do too. If wages were going up along with the stock market we'd be living in a different world.

[Amishman]

3. I'll agree with that except the corporate tax rate

Our nominal corporate tax rate of 35% is too high, but almost no company pays the full amount due to all the loopholes. What they do pay varies greatly and that difference is pretty unfair, especially for medium to small businesses who can't afford the lawyers and lobbiests used by their larger peers to pay less taxes.

Cut it to some where around 30% and eliminate the loopholes. Dishonest companies pay a lot more (looking at you GE) and any honest businesses pay less. This is pretty close to what Kerry included in his campaign ideas in 2004

[unblock]

4. i don't know about "most" but many corporations are stuck paying 35%.

which is a rate i have no problem with in and of itself. it's really only a problem because nearly all other countries are lower and we allow american companies to escape taxation, most notably by simply not bringing the profits back home.

but small to medium companies with little to no international presence are stuck, unless there's some industry-specific break available that bigger companies have lobbied for. as you note, lawyers and accountants and lobbyists are expensive, so big companies can play the game but small to medium companies often can't.


this, in fact, is a good reason to level the playing field and make the big companies pay the same rate, by closing the loopholes.

in particular, corporations should (just as individuals) pay taxes on *global* net income, not just on domestic and "repatriated" net income. give a foreign tax credit, fine, but tax money even if they park it in ireland.

that keeps apple from dodging u.s. taxes and eliminates the dislocation of parking money overseas.