The social security tax has a cap. I believe it is now over 100,000. Most Americans never reach the point where the tax is no longer taken out. The Americans that reach this level most likely don’t even know that their net income has increased. Use this added tax to help Americans in need.

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federal fire safty act reqiers schools to remodle, and replace each 5 yrs. if you don’t use the money you can’t get it automatically to spend again. perfectly good roof are being torn off (oil)and repaced each 5 yrs and don’t need to be done. wasting. lots of dollars.

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People like baby boomers will be afraid to make new investments unless the ceiling on deductability of capital losses in a given year is lifted substantially. I suggest capital losses deductible up to the full extent of all earned and interest income, or at least 25% of all income in a given year. This will encourage older investors afraid of losing their loss deductiblity during their lifetime. This change will encourage people to invest side by side with the government. I do not mind raising the income tax rates for people earning $250,000 or more. I am one of them. this is a good progressive tradeoff.

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I have long been concerned about excessive executive compensation. My primary concerns are the following:

I have met & worked a number of corporate executives during my career & have formed an opinion that they are overvalued & overpaid – often contributing little or even detracting from a company’s performance. What many of the executives have in common is working hard to enrich themselves & their friends. I have met a lot of people who could do an equal or better job and would be willing to work for much less.

Executive compensation in corporate America is determined largely by friends & associates of the executives & lacks proper oversight. Compensation consultants are hired by the executives.

Research has shown that corporate financial fraud is highly correlated with executive compensation. This is attributed to a desire to keep the large compensation flowing.

Executive perks are generous & largely untaxed as income. Corporations do not benefit from country club memberships, lavish parties & dinners & “retreats” at luxury destinations, life insurance policies, private use of corporate jets, etc.

The time has come for significant and far reaching proposals to combat executive abuse. I would like to propose the following:

Make executive compensation over $1,000,000* non-deductible by the corporation.

Increase the tax rate on income over $2,000,000 to 50-80%

Require a minimum 7 year vesting period for all stock options (under the theory that the books cannot be “cooked” for more than 5 consecutive years)

Require corporations to provide 1099s for ALL perks in excess of $2000 annually

Require shareholder direct voting for all executive compensation.

* All amounts should be indexed for inflation

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let companies who want to return money (capital) to the USA do it tax free IF they invest it in jobs or use it to expand thier buisiness. If the jobs last for 1 year or the expantions create jobs then let them bring back an amount equal to that tax free or at a lower rate 2% ? again . I alway here about how companies want to bring this money back to the usa to reinvest but the tax rates are too high,well let them invest first then give them a real good brake on the same amount

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1. Make all interest paid ie: credit cards a tax deduction.

2. Make business entertainment a 100% tax deduction.

3. Provide some incentive for folks paying off mortages.

These suggestions would not only put money back into the pockets of Americans it would help stimulate the economy.

Mahalo for reading……., A Hui Ho John B.

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I have long been an ardent Obama supporter and will head to Washington with my young daughter to witness history being made at his inauguration. I have defended his policies to family and colleagues but respectfully suggest that the time has now come to go beyond simplistic definitions and his administration should take a careful look at how they define the cut offs for tax increases and tax relief. There are so many people suffering in this country and while I do not pretend to equate the pain of a middle class person that has managed to tenuously hold onto their job with one who is unemployed, I think it is important to recognize that there is no one size fits all to categorizing what separates those who need help with those that can afford to subsidize the tax base providing new funds. Since the campaign began, I have NEVER seen an acknowledgement of the differences in costs of living throughout our country. In our family, cousins who live in Cincinnatti and have extremely low housing, food and transportations costs, actually have a better quality of life than we do in New York City although their income is considerably lower. I think the straight cut-off of $200,000 of combined household income should be modified to an income adjusted to the local cost of living. Many Americans who live in larger cities are forced to spend up to 50% of annual income in housing and transportation costs. Our family income is slightly above the cut off but we actually struggle to pay for high housing, transportation, health insurance, and education costs. We all need to pitch in and help but some recognition of how these non-elective burdensome costs create an imbalance should be discussed.

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Legalize marijuana for sale at federal cannabis stores, but charge $100 per ounce or more for it. Use the proceeds to fund drug rehabilitation centers for harder drugs like alcohol, heroin, cocaine, etc. Use any excess proceeds to fund other health care programs. Stiffen the penalties for driving under the influence of marijuana (this can be dangerous!!). Devise a new marijuana test that only gives a positive if the marijuana has been used in the last six hours.

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Every State should collect sales tax, every sales transaction schould be taxed, this is because cash transactions are the least monitored entities in daily activity thus the most faudulant underreported activity in daily commerce. Sales tax collection on cash is underreported and barly reaches the states treasury. This is because no merchant has to produce a numberd state registerd receipt. Paying for cash is no garantie of honesty, it is a licence to steal. Make cash purchases more accountable you just may reduce fraud.

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Using the state (county) sales tax mechanism to stimulate the economy. (Yes, I know not all states have sales tax – but an average offset could be used in those). Everyone would get a point of sales rebate if you will. Stores would set systems to 0% for Sales tax, or similar mechanism (as is used by retail today for “we pay the sales tax days”). Stores would report the sale as they do today, and the Federal government would give an off set equal to the amount normally generated to the taxing authority.

This would stimulate sales and give more money to the middle class and keep tax revenue coming in.

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