was wondering why anyone thinks startups should have to file taxes. also wondering what people thought about the replacing the current corporate tax code with the following:
12.5% rate on businesses' profits: that have had more than 1k unique employees in the past twelve months and that not less than $2.5 bn in revenue over the past 12 months; all businesses that do not meet that criteria do not have to follow; and all current deductions remain and profits earned outside u.s. are not taxed.
then for the personal income let me know what you think about the following:
10%, 15%, and 25% brackets become 1%
28% bracket becomes 2.5%
33% bracket becomes 5%
35% and 39.6% brackets become 10%
$20k exemption per filer
on wages and salaries only
inflation adjustments restored fully (no more chained CPI usage)
all current deductions remain
as marginal rates are lowered, deductions will be worth less and fewer will take advantage of them so revenue from the top bracket will not be a whole lot less
all credits remain except no filer can pay less than negative $300 year.
all taxes to move repealed
all ACA taxes repealed
dodd frank and SOx repealed
all tariffs and quotas repealed
excise taxes remain the same except NFA repealed and cigarette tax rate restored to 2008 levels.
payroll taxes and benefits are optional for those 35 and older, but younger than 35 cannot receive benefits anymore so they cant pay payroll taxes and their social security number discarded. and the current medicare fee system should be discarded and replaced with 2/3 of all non-SS income past the first $28k (would be optional).
that could phase SS and MC out as long as congress didnt change it at a later date.
legal tender repealed and all private minting allowed would be necessary though in addition to all the above so that savings wouldnt be inflated away (i.e., so that people will be more likely to be able to retire comfortably) and so that real production could go up rather than wall street providing so many paper faux services.
all non-SS old age and non-Medicare expenditures reduced to a total of $300Bn (most cabinets and agencies would have to be repealed and everything reduced) and frozen for the next 10 fiscal years as long as congress doesnt repeal it
medicare part D only pays for generic or imported drugs
extreme reduction of IP and other extreme reduction of regulations so that entrepreneurs arent prosecuted and so that old establishments will have to a better job to make profit
debt held by u.s. citizens decentralized based upon number of u.s. reps and u.s. senators
all other debt repudiated
ideally, all taxes would be done away with but too many people arent willing to do away with them.
if you dont agree then why? what is the alternative? how can democracy/confederalism be restored if the plan devised above is not implemented by the next congress and then faithfully executed? how can there not be a collapse if taxes/spending are raised more? why should the working class have to pay more taxes than it already does?
12.5% rate on businesses' profits: that have had more than 1k unique employees in the past twelve months and that not less than $2.5 bn in revenue over the past 12 months; all businesses that do not meet that criteria do not have to follow; and all current deductions remain and profits earned outside u.s. are not taxed.
then for the personal income let me know what you think about the following:
10%, 15%, and 25% brackets become 1%
28% bracket becomes 2.5%
33% bracket becomes 5%
35% and 39.6% brackets become 10%
$20k exemption per filer
on wages and salaries only
inflation adjustments restored fully (no more chained CPI usage)
all current deductions remain
as marginal rates are lowered, deductions will be worth less and fewer will take advantage of them so revenue from the top bracket will not be a whole lot less
all credits remain except no filer can pay less than negative $300 year.
all taxes to move repealed
all ACA taxes repealed
dodd frank and SOx repealed
all tariffs and quotas repealed
excise taxes remain the same except NFA repealed and cigarette tax rate restored to 2008 levels.
payroll taxes and benefits are optional for those 35 and older, but younger than 35 cannot receive benefits anymore so they cant pay payroll taxes and their social security number discarded. and the current medicare fee system should be discarded and replaced with 2/3 of all non-SS income past the first $28k (would be optional).
that could phase SS and MC out as long as congress didnt change it at a later date.
legal tender repealed and all private minting allowed would be necessary though in addition to all the above so that savings wouldnt be inflated away (i.e., so that people will be more likely to be able to retire comfortably) and so that real production could go up rather than wall street providing so many paper faux services.
all non-SS old age and non-Medicare expenditures reduced to a total of $300Bn (most cabinets and agencies would have to be repealed and everything reduced) and frozen for the next 10 fiscal years as long as congress doesnt repeal it
medicare part D only pays for generic or imported drugs
extreme reduction of IP and other extreme reduction of regulations so that entrepreneurs arent prosecuted and so that old establishments will have to a better job to make profit
debt held by u.s. citizens decentralized based upon number of u.s. reps and u.s. senators
all other debt repudiated
ideally, all taxes would be done away with but too many people arent willing to do away with them.
if you dont agree then why? what is the alternative? how can democracy/confederalism be restored if the plan devised above is not implemented by the next congress and then faithfully executed? how can there not be a collapse if taxes/spending are raised more? why should the working class have to pay more taxes than it already does?
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