Adjusting Entitlements

Please adjust all entitlements, most especially those for corporatations and the wealthy. Many taxpayers may not realize that our taxes pay almost twice as much for corporate welfare as they do for social welfare.

Make people pay into social security on every dollar they earn as do most Americans.

Eliminate all tax loop holes with possible exceptions for college expenses (some limits should be set) and mortgage interest on only one home that fits some price limits based on part of the country.

Location: Oviedo, FL

 

Tax Reform

Turn tables on republican wealthy special interests. Pennsylvania State tax has a one card flat tax that works well; is inexpensive to collect and monitor. Suggestion: A GRADUATED FLAT TAX NO EXEMPTIONS WHAT SO EVER ( NOT EVEN FOR CAPTAL GAINS OR HOMES) WORKED OUT BY ACTUARIES TO BE REVENUE POSITIVE. Example :
10% ($0- $25K)
15 %( $25K $50 K):
17.5% ($50K -$100K)
20 % ($100K -$200K);
22.5%( $200K-$300K);
25% ( $300K-$500K) ;
27.5% ( $500K-$ 1 M);
30% ($1M-$2M);
33.5% ( $2M-$5M):
35% ($5M & over)
rates decreased for the middle class : do not rise for the millionaires.

Location: Unites States (I am from Virginia)

 

Now is the time for boldness.

Avoid getting sucked back into the old arguments, the tired sound bites and the conventional thinking that digs deeper into this dual-track rut we are in!

The best way forward is to push the discussion down a new path.

Propose comprehensive tax reform that will have national appeal and is simple to understand. Something like:

10 – 10 – 10

Flat Tax across the board; 10% income tax for everyone; 10% tax on all capital gains and interests earnings; and 10% VAT sales tax. 10-10-10.

No deductions for anything or anyone. So simple that you don’t even need to file a tax return!

Key Sound Bites:
– Reduction in tax rates across the board for everyone!
– No more Government picking winners and losers!
– Fire the Tax Auditors, we don’t need them anymore!
– Progressive Consumption Tax over Regressive Income tax!
– 50% of VAT tax dedicated to debt reduction!

Now, you REALLY want to capture the public attention and be a hero to every tax payer?

People Power Policy: If you file an (optional) tax return, YOU can decide which agencies will receive 50% of your taxes!
* You worried about defense? then sends the funds there;
* Your state needs more funding? that’s your choice;
* College tuition? National Parks?
** Vote with your taxes!

Location: Germantown, MD

 

Okay, we all know that closing the loopholes isn’t going to work because lobbyists won’t let it. However, if the Republicans are so sure it will, then make this deal. We raise the taxes on the rich first and as they pass each bill to close a loophole, then the taxes on the rich will be lowered by exactly the amount the loophole closing raises money. That should be an acceptable deal to them, unless they are not truthful about closing loopholes. We know it won’t happen because both Republicans and Democrats talk about closing loopholes but it never happens. The result will be the taxes remain high on the rich. It’s a trick to to get the tax hikes on the rich or you prove them dishonest about loophole closing. It also should expose them as being for the rich if they don’t accept it.

Location: Spokane, Washington

 

As a small business owner who is watching the gridlock over taxes, please remember that small business owners include those making $10K-$10 million per year and everything in between. My understanding is that Republicans don’t want to raise taxes on those who may be small business owners, but the income level of one-size-fits-all doesn’t work here. I never hear discussion of setting up a structure in the tax code that could be used to help all small business owners in a proportional way. For those making over $250K (or less) who own small businesses, specific deductions, tax breaks, etc. can be used if the taxpayer is identified as a small business owner, such as having a EIN. This is what would be the most useful and satisfy need to promote small business, and thereby the economy. Real relief would come in the form of self-employment tax and/or mortgage vacations for the first years of the establishment of a small business, again to help stimulate the economy. My hope is that this would meet the demands of each party as well as the common goals of promoting and protecting small business and stimulating the economy. Small businesses make up 98% of the employers in the US, but small businesses come in all sizes and need a tax structure that reflects this.
Thank you for your consideration.

Location: Chicago, Illinois

 

Raising Taxes For All

I have a suggestion we don’t you create a flat tax for everyone. For example we all pay 20% no matter what your salary is. The rich will then pay more because they make more.

Location: Piscataway, New Jersey

 

Romney Dodging Taxes

Nobody seems to have noticed this. In a 60 Minutes interview, Romney was asked if he thought it fair to pay, as he did, an income tax of “14% — that’s the capital gains tax” on $20 million of investment income when someone else pays a higher rate on $50,000 income. Answer: yes, that’s the way to help the economy grow.

Near the end of the debate, Romney listed three taxes he would do away with: the third was the capital gains tax.

Put those together and the conclusion can only be that if Romney wins, on his next $20 million of investment income he will pay NOTHING in taxes.

That can’t be his only reason for wanting to be President, but it does sweeten the deal, doesn’t it?

Bill Powers

Location: Lafayette, Colorado

 

Tax the wealthy wording

As a lower end hardworking middle class person and small business owner. I pride myself on not relying on others for support.

Because of this, the wording I hear in commercials,

“Ask the wealthy to pay a little more,”

makes it sound like I can’t make it without a biscuit thrown from the wealthy.

I think saying,

“Ask the wealthy to pay a more fair share”,

would sit better with many people.

Just my thought. Thanks!! I’m voting OBAMA!

Location: Knoxville, MD

 

0% Tax Rate for Investment Income

If interest, dividends, and capital gains (including carried interests) are not subject to income taxes then Romeny’s tax rate drops from 13% to 0%. Same for others that have investment income but no earned income.

Location: Atlanta, GA

 

BUDGET DEFICIT SOLUTION

For the President’s next debate regarding solving future deficits, I think the most saleable proposition to the masses would be to take a more “prudent” and “balanced” approach than the Republicans, by allowing the Bush Tax Cuts to expire to generate needed revenues and to reduce expendiures by an equivalent amount through an accross the board percentage cut in the budget, which should nearly close close the deficit. Everyone needs to sacrifice to some degree…even the middle class and most certainly the 1-2% of our very wealthy citizens who have not been paying their fair share. Most certainly this country can’t afford the time nor the risk of another “failed” attempt by Republicans of supply side economics or a “Trickle Down” approcach, which has been tried a number of times before and has not worked! The world is expecting us to perform in a sound fiduciary manner…we cannot afford to speculate again on Wall Street “theories” which could increase deficits and cause another financial collapse.

Location: West Oneonta, NY 13861

 
Get Adobe Flash player