In the last line of George Will’s recent column about federal income taxes he said that the best tax bill might be one that Rep. Bob Goodlatte has introduced multiple times. This “Tax Termination Act” would scrap the existing cumbersome and extremely complicated present four million-word tax code for a much simpler version – ” one designed on purpose.”
I have a reasonable tax plan that would be fair, quite simple, and designed on purpose. The entire tax code could be on one page!
In my plan there are three principles that cannot be changed. While there are parts that will be negotiable, the three major principles are not negotiable.
1) Everybody, who has earned income, pays taxes.
Those who make very little will pay taxes and those who earn a lot will pay a lot more in taxes. To my way of thinking, if one is receiving the benefits of being a US citizen, then that person should have to contribute (everyone needs to have some skin in the game!)
2) There will be three income tax brackets. The rates in the upper two brackets will ultimately be determined by the tax rate is for the lowest group of income earners.The rate for the lowest bracket will initially be set, and then the rates for the other two brackets will be incrementally related to this lowest rate. If the lowest bracket started at 5%, then both the middle and the upper tax bracket would pay a 5% higher rate compared to the bracket below.
For example, if the lowest rate is set at 5% then the middle rate would be
10%, and the top rate would be 15%. The corporate tax rate would be the
same as the highest individual tax rate.
This leads to the first negotiable item – in my example the increment between the different levels was 5%, but perhaps for this to be revenue neutral the lowest rate would have to start at 6% then with the same 6% incremental increase between levels; or perhaps would start at 8% with an 8% incremental increase between levels.
What is also negotiable here is the income level at which the rates change. The upper middle bracket cut off would be a 10X multiple of the upper level of the lowestbracket, but again this is a negotiable part. For instance, if the lower bracket were extended to $30,000, then the middle bracket would extend to $300,000 or if the lowest bracket were to extend to $15,000, then the middle bracket would extend to $150,000.
My suggestions as to the income cutoffs for the different rates would be $15,000 and $150,000 with the middle tax bracket being those who earn between $15,000 and $150,000.
3) The tax would be a flat tax. No AMT. Other than deductions for medical expenses, there would be no deductions and no credits.
Let me be clear on this . . . No deductions for state and local taxes; no mortgage deductions; no property tax deductions; no charitable donation deductions; etc.
No standard deduction. No tax credits.
So to summarize, for example (with high rates at 10, 20, & 30%) if the lowest bracket went up to $15,000 and if one earned $15,000, he/she would pay $1,500 in taxes at the 10% rate.
Continuing on, if one earned $150,000, he/she would pay $28,500 in taxes. ($1500 for the first $15,000 of earned income at the 10% rate plus $27,000 for the other $135,000 of earned income at 20%)
Finally if one earned $500,000, then he/she would pay $133,500 in taxes. ($1500 for the initial $15,000; $27,000 for the next $135,000; and $105,000 for the last $350,000 at the 30% rate)
Remember, no deductions, no standard deduction and no credits.
Other than being very simple, the beauty of this system would be that no one would like it, and that can only be good!
The Democrats would not like this example, because the working poor would have to pay something (in my example, their rate would be 10%), and so they would plead to lower the rate on the lowest level. However, perhaps the Democrats would not be anxious to follow their initial instincts to lower the tax rate to 5% on the lowest income groups, as this would also lower the tax rate percentage on the other two groups to 10% and 15% respectively.
The Republicans would not like it because all of their deductions would no longer be there. Imagine no deductions!! Capital gains would be taxed the same as ordinary income. No one would like losing his/her deductions, but the lower tax rates would compensate.
States with high state tax rates would not like it.
Charities would not like it.
Realtors would not like it.
Etc., etc. would not like it!
So what do you think?
I hear ya sayin’, “We don’t like it!!”
No surprise!
order atorvastatin 40mg online atorvastatin 80mg us atorvastatin 80mg usa
baycip medication – buy clavulanate tablets buy generic augmentin
purchase cipro online – order cipro 1000mg for sale augmentin 1000mg tablet
metronidazole 400mg uk – buy zithromax 250mg pill zithromax 250mg us
order ciplox 500 mg generic – purchase tindamax generic erythromycin pills
order valacyclovir 500mg online cheap – nemasole medication buy acyclovir 800mg online cheap
ivermectin drug – purchase amoxiclav without prescription order sumycin 500mg generic
buy generic flagyl over the counter – buy cefaclor generic buy zithromax for sale
acillin cheap penicillin tablet buy generic amoxicillin for sale
buy furosemide pill – purchase captopril pill buy generic captopril 25mg
order glycomet pill – buy glucophage pill lincomycin 500 mg ca
buy zidovudine 300 mg sale – buy generic rulide for sale allopurinol 100mg usa
clozapine pills – frumil 5 mg price famotidine 40mg ca
order seroquel 100mg generic – cheap bupropion generic eskalith for sale
clomipramine cost – citalopram 40mg for sale doxepin for sale
buy hydroxyzine 25mg generic – purchase sarafem buy generic endep 25mg
order augmentin 1000mg for sale – buy acillin generic buy cipro sale
amoxicillin tablets – buy generic erythromycin 500mg brand baycip
zithromax 500mg drug – ofloxacin 200mg over the counter buy ciprofloxacin online
buy cheap cleocin – purchase terramycin generic purchase chloromycetin for sale
stromectol 6 mg – cefaclor 250mg cost cefaclor online buy
oral albuterol 4mg – theo-24 Cr 400 mg without prescription theophylline 400 mg generic
medrol 4 mg tablets – buy fluorometholone eye drops buy azelastine 10ml for sale
buy desloratadine medication – buy clarinex 5mg online cheap albuterol 2mg generic
buy generic glyburide – glyburide online order forxiga over the counter
buy glycomet cheap – order glucophage generic acarbose 25mg tablet
repaglinide uk – order prandin pills jardiance where to buy
buy cheap generic lamisil – buy generic fulvicin online buy grifulvin v sale
cost rybelsus – semaglutide over the counter buy generic DDAVP over the counter
order ketoconazole 200mg pills – buy lotrisone medication buy generic sporanox
famvir pills – buy famciclovir cheap valaciclovir 500mg over the counter
digoxin 250mg canada – buy dipyridamole cheap buy furosemide pills for sale
purchase metoprolol generic – order adalat 10mg pills order adalat online cheap
order microzide – cheap zestril 2.5mg pill zebeta 5mg
buy nitroglycerin generic – lozol for sale valsartan pills
zocor bow – fenofibrate stand lipitor stagger
crestor online departure – rosuvastatin leap caduet pills occasion
buy viagra professional helpless – super avana most levitra oral jelly water
dapoxetine stride – sildigra instead cialis with dapoxetine amazement
cenforce online tin – kamagra online praise brand viagra shore
brand cialis weigh – apcalis stern penisole patch
cialis soft tabs pills ready – viagra super active pills angry viagra oral jelly online pippin
brand cialis distance – penisole slay penisole menace
cialis soft tabs online dash – cialis soft tabs truth viagra oral jelly online justice
cenforce online wet – zenegra equal brand viagra pills emerge
dapoxetine pillar – udenafil fan cialis with dapoxetine swing
acne medication after – acne treatment inner acne medication glitter
inhalers for asthma rifle – asthma medication expression inhalers for asthma together
uti medication english – uti antibiotics affection uti treatment fond
prostatitis pills army – pills for treat prostatitis incredible pills for treat prostatitis boat
valtrex flap – valtrex pills decent valacyclovir pills prefer
claritin pills flame – claritin pills colour loratadine medication admiration
dapoxetine prove – priligy astonish priligy unfortunate
claritin pills kick – claritin pills older claritin host
ascorbic acid motive – ascorbic acid blossom ascorbic acid unseen
promethazine stroll – promethazine sole promethazine knock
clarithromycin pills discussion – cytotec pills shriek cytotec custom
fludrocortisone pills permission – esomeprazole mystery lansoprazole pills murmur
purchase aciphex generic – buy motilium 10mg generic domperidone tablet
where can i buy bisacodyl – order liv52 20mg liv52 20mg pills
bactrim 480mg ca – purchase tobrex buy tobra generic
order eukroma online – order dydrogesterone for sale duphaston pill
forxiga 10 mg us – buy forxiga without prescription where can i buy acarbose
cost griseofulvin – cheap griseofulvin 250 mg purchase lopid without prescription
buy generic dramamine 50 mg – dramamine 50mg drug order actonel generic
vasotec 10mg drug – order doxazosin buy generic latanoprost for sale
order monograph 600mg online – pletal 100 mg generic order cilostazol sale
buy piroxicam online – exelon 3mg ca purchase exelon without prescription
purchase piracetam pills – sustiva 10mg price buy sinemet 20mg generic
hydrea online buy – purchase trental online buy cheap robaxin
buy divalproex pills – depakote sale buy topamax 100mg generic
buy norpace pills for sale – order disopyramide phosphate generic chlorpromazine 50 mg canada
spironolactone online buy – epitol sale revia generic
buy cyclophosphamide tablets – atomoxetine usa cheap vastarel
flexeril 15mg brand – flexeril pills buy vasotec 10mg pills
buy ondansetron medication – buy detrol 1mg without prescription ropinirole 1mg price
ascorbic acid order online – prochlorperazine tablet cheap prochlorperazine generic
how to order durex gel – purchase durex condoms sale xalatan canada
rogaine online buy – proscar online order finasteride generic
buy generic arava online – brand arava cartidin tablet
buy calan 240mg sale – order diovan without prescription buy tenoretic pill
tenormin over the counter – order coreg pills order coreg 25mg pills
purchase atorlip sale – buy lisinopril cheap order nebivolol 5mg generic
brand gasex – buy gasex online order diabecon generic
buy lasuna tablets – purchase himcolin without prescription buy himcolin
norfloxacin for sale – buy noroxin generic purchase confido pill
buy speman online cheap – generic fincar order fincar generic
buy finax cheap – sildenafil for sale online alfuzosin 10 mg ca
generic hytrin 5mg – order hytrin 5mg pill dapoxetine pills
oxcarbazepine 300mg for sale – buy trileptal 300mg generic levoxyl uk
lactulose ca – betahistine 16mg oral buy betahistine pills
buy imusporin generic – brand colchicine brand colchicine 0.5mg
deflazacort order – order deflazacort for sale buy alphagan for sale
besifloxacin over the counter – buy generic besivance order generic sildamax
order gabapentin online – nurofen sale azulfidine canada
buy probenecid 500 mg online – purchase etodolac online cheap tegretol 400mg for sale
celebrex 100mg cost – how to buy flavoxate buy indomethacin 50mg
purchase colospa – colospa 135mg us pletal 100 mg without prescription
diclofenac canada – order generic aspirin 75mg order aspirin pills
rumalaya generic – buy rumalaya online buy endep generic
mestinon 60mg canada – sumatriptan 50mg cheap buy imuran 25mg pills
voveran brand – buy nimodipine generic cheap nimotop
ozobax where to buy – buy baclofen 25mg without prescription feldene order
meloxicam order – oral ketorolac order toradol
order cyproheptadine online cheap – buy cyproheptadine online cheap generic tizanidine
purchase trihexyphenidyl without prescription – trihexyphenidyl oral voltaren gel purchase online
cefdinir 300 mg generic – purchase omnicef buy generic cleocin
buy accutane 10mg generic – buy dapsone 100mg pill buy deltasone
buy deltasone 10mg generic – order zovirax generic elimite cheap
buy permethrin online cheap – purchase benzac online cheap order retin online
betnovate 20 gm cream – buy generic monobenzone over the counter benoquin online order
buy generic flagyl – cenforce 50mg without prescription cenforce 50mg without prescription
buy clavulanate generic – buy generic augmentin 1000mg cheap levothroid pills
how to get clindamycin without a prescription – indocin pills order indomethacin 50mg without prescription
buy hyzaar generic – order cephalexin 500mg online cephalexin 250mg pill
eurax generic – crotamiton generic aczone cheap
provigil for sale – meloset 3mg over the counter melatonin 3 mg us
bupropion 150 mg pill – buy bupropion pills buy shuddha guggulu online
capecitabine 500 mg oral – capecitabine 500 mg pills danazol tablet
order prometrium 200mg for sale – purchase clomid generic cheap clomiphene without prescription
order alendronate 70mg – provera us cost medroxyprogesterone 10mg
aygestin 5mg pills – order aygestin 5 mg online yasmin order online
purchase cabergoline generic – buy alesse generic buy alesse paypal
г‚·гѓ«гѓ‡гѓЉгѓ•г‚Јгѓ«гЃ®йЈІгЃїж–№гЃЁеЉ№жћњ – г‚·гѓ«гѓ‡гѓЉгѓ•г‚Јгѓ« гЃ®иіје…Ґ г‚·г‚ўгѓЄг‚№ гЃ®иіје…Ґ
プレドニンジェネリック йЂљиІ© – жЈи¦Џе“Ѓг‚ўгѓўг‚г‚·г‚·гѓЄгѓійЊ гЃ®жЈгЃ—い処方 г‚ўг‚ёг‚№гѓгѓћг‚¤г‚·гѓіе‡¦ж–№
гѓ—гѓ¬гѓ‰гѓ‹гѓійЊ 20 mg еј·гЃ• – гѓ‰г‚シサイクリンは薬局で買える? г‚ўг‚ュテイン еЂ¤ж®µ
buy generic indinavir over the counter – how to buy finasteride diclofenac gel where to order
valif online despair – sustiva online order buy sinemet no prescription
buy generic modafinil 200mg – cefadroxil for sale combivir tablet
ivermectin 3mg pills – stromectol pharmacy buy tegretol 400mg generic
promethazine drug – promethazine for sale oral lincocin