The Big Ideas Project

Browse category:

Merged Idea

Tax equality. This means that 100% of everyone's income is taxed for Social Security, not just middle class people (scrap the cap). It means that no matter the source of your income, it is all treated the same for tax purposes (no more calling a salary "carried interest" to change the tax rate on it, no more taxing dividends and capital gains at a different rate).

Submitted by Jeanie Egbert from CA in Taxes & Budget Nov. 5, 2014, 10:29 p.m. 3

Tweet Share

12639 votes

Merged Idea

End the Oil Depletion Allowance (ODA), and any other oil industry tax benefits, and redirect the increased revenue to subsidize alternative energy (solar, wind, wave, etc.) The ODA made sense a century ago when it was a fledgling industry, but now the most profitable companies on earth are the major oil conglomerates. Direct our subsidy to the job creating industries of the future.

Submitted by Jim Marsee from FL (AKA Top International Guy) in Taxes & Budget Dec. 17, 2014, 4:36 p.m.

Tweet Share

9279 votes

Merged Idea

Do not allow corporations to shelter from tax profits through foreign subsidiaries. Make all their profits subject to tax when earned, do not allow them to avoid tax by holding these profits offshore.

Submitted by Steve Silberstein, Executive Producer of Inequality for All in Taxes & Budget Dec. 10, 2014, 1:20 a.m.

Tweet Share

7725 votes

Corporations should NOT be allowed to deduct from their taxes any portion of fines, penalties and/or restitution costs assessed under a settlement with the government as a result of the corporation's malfeasance and/or negligence.

Submitted by Mary Rocco in Taxes & Budget Dec. 10, 2014, 5:06 p.m.

Tweet Share

#21

5204 votes

Merged Idea

Eliminate lifetime pensions for members of Congress and the Senate. Most of them go on to big paying jobs on K Street, or in the private sector. They don't need government pensions.

Submitted by atchelka in Taxes & Budget Dec. 10, 2014, 4:59 p.m. 1

Tweet Share

#27

4598 votes

Any company that moves their corporate headquarters from the US to avoid taxes should be accessed a tariff on goods sold in the US as a foreign company.

Submitted by Paul J. from IL in Taxes & Budget Dec. 17, 2014, 4:02 p.m.

Tweet Share

#40

3912 votes

Merged Idea

Restore income tax rates for the wealthiest 2% of Americans to pre-Reagan levels.

Submitted by Anthony J. Piccione in Taxes & Budget Dec. 10, 2014, 11:04 a.m.

Tweet Share

#41

3808 votes

Merged Idea

A Wall Street sales tax—taxing financial transactions. A modest set of taxes on trades of stock, bonds, and derivatives could raise a vast amount of money—quite possibly more than $1 trillion over a decade. Virtually all the money would come from Wall Street since most people will cut back their trading in proportion to the increase in costs. In addition, a tax would reduce speculation and possible lessen the volatility in financial markets.

Submitted by Dean Baker, Co-Director of the Center for Economic and Policy Research in Taxes & Budget Dec. 10, 2014, 1:36 a.m. 1

Tweet Share

#45

3593 votes

Merged Idea

Remove non-profit (tax exempt) status for professional sports organizations like the multi-billion dollar per year NFL

Submitted by Robert E. Sojka in Taxes & Budget Dec. 10, 2014, 4:58 p.m.

Tweet Share

#47

3407 votes

Tax gun sales, much like tobacco sales, hold gun makers accountable for their product thus taking the cost of death and injuries off the tax payers. And maybe slow gun violence.

Submitted by Shirley Blanton in Taxes & Budget Nov. 9, 2014, 9:19 a.m.

Tweet Share

#60

3083 votes

Remove the annual maximum cap on the social security deduction so that everyone pays a percentage of total earnings. After that, since businesses are now considered to be a person, they should pay social security on their earnings. The budget will be balanced in a few years!

Submitted by RumpledRich in Taxes & Budget Jan. 7, 2015, 2:44 p.m.

Tweet Share

#64

2916 votes

Eliminate Corporate Welfare.

Submitted by Don B. from CA in Taxes & Budget Dec. 17, 2014, 3:42 a.m.

Tweet Share

#106

2064 votes

Big Corps should not be subsidized at all, and if they fight minimum wage increases, they should lose all subsidies from the taxpayers. This is unconscionably obscene!!!

Submitted by C. Whitfield in Taxes & Budget Nov. 14, 2014, 9:14 p.m.

Tweet Share

#108

2052 votes

Stop lowering taxes on the wealthy. To whom much is given, much is required. No more free rides for the so called "job creators." The people who pay the price of low taxes are the middle class and the poor. The poor pay higher taxes on living expenses through their rent payments and can claim no deduction for it.

Submitted by Savvylady in Taxes & Budget Jan. 8, 2015, 3:33 p.m.

Tweet Share

#115

1944 votes

Make Social Security Trust Fund inaccessible for any and all purposes other than for Social Security Pensions,disability and survivor benefits. Money in Social Security Trust Fund must be prohibited from being counted against the National debt; Neither Congress nor "the Fed" should should be able be to access these funds under any circumstance!

Submitted by Wanda A. in Taxes & Budget Dec. 11, 2014, 12:42 a.m. 1

Tweet Share

#118

1886 votes

Reform or end the many tax loopholes and exceptions that allow the wealthiest individuals and corporations to escape the "nominal" tax rates they do not now pay.

Submitted by Darrell N. from NY in Taxes & Budget Dec. 10, 2014, 5:05 p.m.

Tweet Share

#130

1768 votes

Heavy tax penalties for all American corporations that ship jobs outside the US. This would be usable as as an incentive to bring jobs that were originally performed here back and to stop "outsourcing" them so readily in the first place. In addition, this would add much needed revenue to the Budget coming from corporations who can more readily afford it than the rest of us.

Submitted by ACE910046SCA1 in Taxes & Budget Jan. 6, 2015, 10:14 p.m.

Tweet Share

#146

1542 votes

Don't allow corporations to be able to deduct from their taxes the obscene salaries they offer their top executives. Put a cap on that deduction and then give corporations a larger/bonus deduction if they pay their employees a wage that will allow them to enjoy a middle class life.

Submitted by Richard N. from CA in Taxes & Budget Nov. 16, 2014, 7:36 p.m.

Tweet Share

#149

1522 votes

Raise the top tax rates on those making $10M-$100M to Pay 40%, those making $100M-$1B Pay 50%, those making $1B-$10B pay 75% & THOSE MAKING HIGHER 92%

Submitted by Roger M. from NY in Taxes & Budget Dec. 30, 2014, 3:10 p.m.

Tweet Share

#155

1493 votes

Merged Idea

Financial speculation tax. Very high tax on profits from sale of stocks owned less than 1 second. Tax rate decreases the longer investments are owned, eventually reaching 0% for investments that are owned a very long time (several years). Tax would be on top of income, capital gains, or other taxes and would apply to all relevant financial instruments including futures contracts, derivatives, and short sales.

Submitted by Keith Rouda in Taxes & Budget Dec. 5, 2014, 5:50 p.m.

Tweet Share

#162

1418 votes

Who’s voting?

Thanks for voting on your favorite ideas!