National Debt Reduction Plan

[hakko936]

OK, so I have been sitting here thinking about this situation. Here is what I came up with.

All of these funds would be dedicated to paying off the debt and only that. It would be a flat payroll type tax and paid by everyone who gets money regardless of where it comes from and no deductions for anything.

0-$50k would pay 0.5%
$50k-$100k would pay 0.75%
$100k to $150k would pay 1%
$150k to $200k would pay 1.25%
anything above $200k would pay 1.5% with no cap.

Secure Social Security and Medicare by doing the following:

0-$125k pay 4% with employer matching 4%
$125-$250k pay 5% with employer matching 4%
anything about $250k pays 6% with employer paying 4% with no cap.

"General Fund" plan

Repeal the Bush tax cuts for over $250k, but insist on $0.50 in cuts for every $1 in additional revenue. Obviously SS and Medicare would be off the table.

Problem solved? Everyone is required to help, but the rich pay significantly more.