Raise taxes on those who make a million plus a year. Get out of the wars.

[MoonRiver]

And PRESTO economic problems and deficits disappear! No need to hurt seniors and the disabled. No need to cut school funds and programs that literally keep people alive. What a concept!

[taught_me_patience]

1. That's not going to be nearly enough to close the deficit n/t

[KansDem]

2. It's a good start.

I don't know why it hasn't been done yet...

[taught_me_patience]

4. Yeah, it is a good start for sure

This is low-hanging fruit that could actually be accomplished.

[MoonRiver]

3. What else do you suggest?

[taught_me_patience]

5. It's going to take a lot more taxes and cuts to close the deficit

I would suggest a revamping of the tax code:

0-20k: 5%
20-50k: 10%
50-75k: 15%
75-150k: 20%
150k-250k: 25%
250k-1MM: 30%
1MM+: 50%

No deductions or credits.
Eliminate corporate tax credits
Lower corporate tax rate to 29%
Eliminate farm and ethanol subsidies

Eliminate the two unnecessary wars
Slowly cut defense budget by 30%
Reduce federal workforce by 20% by attrition
Slowly phase out federal pensions and replace with 401ks
Raise social security and medicare age by one year.

[MoonRiver]

6. That all seems reasonable.

Everybody gets a proportionate hit. Fair.

[Nevernose]

7. I've been calling that a "progressive flat tax"

And it's something my ultra-conservative friends are willing to seriously consider: a compromise that gets both sides what they want. Of course, it would be more complicated than that (ss tax vs other kinds of taxes, for example), and there are a lot of good tax "carrots" that we'd be getting rid of, too. Personally, if it meant getting rid of the insane corporate corruption, i'd be willing to consider taking the bad with the good.

[taught_me_patience]

17. "Progressive flat tax"... I like it...

:-)

[Statistical]

19. Agreed. The tax code needs to be simplified.

However I would exempt the first $50K in income. Poor and middle class already pay sales tax, payroll taxes, and dozens of other taxes. Income tax was originally designed as a tax for wealthy. Less people filing makes entire system simpler.

So I would say something like this (obviously brackets need to be adjusted for exact revenue)
First $30K tax free. If you make less than $30K they don't even deduct it from your check. Why deduct taxes from half of Americans only to give it back to them at tax time? Huge amount of work to take contributions, submit returns, verify returns, and return the same money right back.

On taxable income
$0 - $30K - 0%
$30K - $100K - 20%
$100K - $250K - 28%
$250K - $1M - 36%
$1M - $10M - 48%
>$10M - 60%

There is no reason why income tax can't exclude completely the bottom 40% of Americans (no witholding, no filing, no nothing). The rest could fill out a single sheet of paper. AMT could be eliminated (only needed because so many loopholes in regular code).

[taught_me_patience]

22. The only problem that I have is that there are many things

paid from the general fund, which all Americans benefit from... defense, FBI, Regulatory agencies, CIA, Transportation, ... etc... Payroll taxes are for entitlement programs and sales taxes are state taxes. I strongly believe that everybody benefits and everybody pays (even if it is a really small amount - like 5%).

Also, if 40% of taxpayers were not paying any federal income tax, it gives a lot of fuel to right-wing talking points.

[FogerRox]

24. Too few brackets, you hurt the middle class

On taxable income
$0 - $30K - 0%
$30K - $100K - 20%
$100K - $250K - 28%
$250K - $1M - 36%
$1M - $10M - 48%
>$10M - 60%

Isnt that a tax increase for someone making 33k per yr? We need really 20 brackets, we used to have 67.

[FogerRox]

23. Very little correlation between top rates and revenue

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=203





What does increase revenue is increased economic growth, just as a recession reduces revenues.

On the other hand, increase Ind top rate tax brackets from 6 to 20, with a top rate of 70% and the Uber rich will stop and think before they speculate short term, and are more likely to think long term. I dont think most people understand how the 6 tax brackets we have now, hurt families. We used to have 67 brackets.

The top Corporate tax rate used to be 52%, Payroll deductions used to be 6.6% in the 1980's they went up to 15.3%.

[bobbolink]

8. That isn't going to happen,. Hurting elders and disabled WILL happen.

Yeah, the hope has been flushed.

[MoonRiver]

10. I don't think we've gone there yet.

Please have some hope still.

[bobbolink]

11. You're welcome to trade places with me. We'll then see how "hope" looks from that angle.

the writing is on the wall.

[MoonRiver]

12. I apologize for any offense.

:hug:

[bobbolink]

14. Thanks. I wasn't offended. I just have no hope, and can't find the right button to press to

engage it.

Most days are very difficult just to get through.

Ironic, with the "hope guy" in the Oval, eh?

thanks, tho.... I really do appreciate the caring hug. It means a lot.

:hug:

[MoonRiver]

15. I'm dealing with issues also.

Life is tough. We just gotta stick together.

[bobbolink]

16. That is exactly right! We need a safe place to be ourselves, and not have to be armored to the

teeth.

That has been a dream of mine for a long time.... creating a safe sanctuary.

We just need to know how to listen to each other, and we could do it.

Here's to "sticking together" :toast:

[Uben]

9. Completely defund Pentagon, FBI, Congress, SCOTUS and CIA

and close them down. Build a 50 ft wall around U.S. and place a $50K bounty on anyone trying cross the wall. Problem solved!

[quakerboy]

20. Umm... That seems like a bad idea

Cause Im pretty sure it would quickly spawn a whole new industry...


Pay someone 10k to climb the wall, be caught by you, and pocket the rest.



How about instead a 50k bounty on anyone hiring someone not legally eligible to work in the US, paid for by a 500k fine on any company which does so, and shifting drug laws to completely defang and defund the prison industry.


Also, congress itself is not all that expensive. Its a lot of dollars, but compared to our budget, I'm pretty sure it's peanuts. How about instead of that we just raise a flat 5 or 10% tax and give everyone universal health care, thus freeing up a massive portion of working class wealth to be spent, raising the economy and the tax income for the country?

[pscot]

13. That's a brilliant 16 word plan

to pull the country out of the ditch it's in.

[defendandprotect]

18. K/R

[Last Stand]

21. My new bumper sticker:

My Presidents went to war and all I got was this lousy Tax Burden.
(comes with a Peace sign)