The Big Ideas Project

Create an algorithm for a truly graduated income tax. End the "tax brackets". The higher the income the higher the % of income taxed. This formula would apply universally. At the lowest end, make it a credit.

Submitted by Walworth in Taxes & Budget Jan. 8, 2015, 9:18 p.m.

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#1724

63 votes

Push for a global tax agreement that establishes a minimum "floor" for a wealth tax, financial transaction tax, corporate tax, capital gains tax, and estate tax to end tax shelters and the "race to the bottom" that globalization has created. Non-compliant nations would face economic penalties, and nations could use the stable revenue to reinvest in their infrastructure.

Submitted by Mark in Taxes & Budget Dec. 31, 2014, 4:11 p.m.

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#1738

62 votes

Increase the student loan interest deduction to $5,500 & increase the maximum income allowed to claim this deduction from its current level of approximately $80,000.

Submitted by mirandate in Taxes & Budget Jan. 12, 2015, 12:30 p.m. 1

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#1754

61 votes

Create a higher corporate income tax, tax capital gains progressively, and create more tax brackets and a higher maximum personal tax rate.

Submitted by Sarah Fellman in Taxes & Budget Dec. 11, 2014, 12:11 a.m.

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#1754

61 votes

Modify tax law to change the home mortgage deduction to be a housing deduction that provides equal help to renters, so that the government is not economically favoring those affluent enough to buy a home and so that the government isn't "picking winners and losers" in the question of whether a home purchase or a rental is a better economic decision.

Submitted by Kent Pitman in Taxes & Budget Dec. 26, 2014, 2:43 p.m.

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#1766

60 votes

Reinstate capital gains taxes, and avoid any loopholes, like "generation skipping."

Submitted by antonio l. from CA in Taxes & Budget Jan. 4, 2015, 5:22 p.m.

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#1766

60 votes

People need to be severely limited in how much they can leave their heirs, the balance of their assets should return to the nation. These assests can then be redistributed as a universal head start (perhaps $25,000) to our young people upon their graduation from H.S. this money can apply to post graduation education/training expenses, down payment on a house, etc.

Submitted by Michael D. from OH in Taxes & Budget Nov. 14, 2014, 9:01 p.m.

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#1766

60 votes

Institute new "McCain Rich" tax brackets. When asked by Rick Warren in an interview early in the 2008 campaign, to define "rich" McCain said $5M made someone rich. So let's have McCain Rich tax brackets. All income, regardless of source, above $5M should be taxed at 10% more than the current top tax bracket. 10x that or $50M in income at 10% above that and so on in orders of magnitude of income and higher tax brackets on the super-rich, with the John McCain seal of approval.

Submitted by Joe in Wynnewood, PA in Taxes & Budget Dec. 12, 2014, 10:55 p.m.

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#1776

59 votes

Raise the minimum gross income where taxes begin. I think it's extremely low now. It should be more like $20,000 a year not, 10,000 for a single person.

Submitted by JK in Taxes & Budget Dec. 18, 2014, 10:06 p.m.

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#1776

59 votes

Give single people and non parents a break for once.We're being bled for large families.Eliminate the tax credit after the second kid and make taxes higher for burdening the system like the Duggars.

Submitted by Jim B. from ME in Taxes & Budget Jan. 3, 2015, 7:32 p.m.

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#1776

59 votes

Make rent for a home deductible in the same way interest on a house is deductible now.

Submitted by Terry Allen in Taxes & Budget Jan. 8, 2015, 9:22 p.m. 1

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#1776

59 votes

I think it would be a good idea to impose a sin tax that would place the social cost of owning assault (and high volume fire) weapons directly where it belongs: on sales of assault weapons, compatible ammunition, and large ammunition clips. The tax rate should be capable of covering the social cost of sales of these items. It should be imposed at the source (manufacturing) rather than at the point of sale.

Submitted by Daniel E. from NJ in Taxes & Budget Dec. 11, 2014, 12:12 a.m.

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#1776

59 votes

All corporations with gross revenue of $50M or more should pay a minimum of 5% in income taxes per year and no less than a total of 20% cumulative over any 3-year period, 40% over any 5-year period. Corporations of $1B or more must pay a minimum of 10% per year.

Submitted by Timothy Salt in Taxes & Budget Dec. 16, 2014, 12:40 p.m.

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#1788

58 votes

Tax people and businesses based on their impact on society. People who choose to be employed in the nonprofit or public services sector and businesses that have a social mission should pay a significantly lower tax rate, particularly if they are saving the government money or stretching public resources further by addressing social and environmental challenges.

Submitted by kjutze in Taxes & Budget Dec. 20, 2014, 9:08 p.m.

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#1788

58 votes

Revamp federal corporate tax rates to 49.5% on the largest earners, 1.5% on the smallest mom-and-pops or startups & create 33 tax brackets. No more marginal rates. Tax on gross or adjusted gross. Move sole proprietorships & partnerships out of the corporate category & put them in the Individual category.

Submitted by Xander Taylor in Taxes & Budget Dec. 19, 2014, 9:41 a.m.

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#1802

57 votes

I do feel an urgency to stop these businesses from making messes and not being held accountable. these are the businesses that should be paying the highest in taxation, the ones that walk away from disasters. I want business accountability and eco-friendly businesses.

Submitted by Oaken in Taxes & Budget Dec. 11, 2014, 10:12 p.m.

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#1802

57 votes

The way things currently work a company announces that it plans to build a factory or store or whatever--somewhere. Cities, counties, and states, then, put together tax incentive packages in the hope of “attracting” this company to locate their new technical lab here rather than there. The way things stand now American communities routinely bid against one another to the detriment of the everyone but the companies. I think that we should eliminate this sort of tax incentive as much as is fair

Submitted by Irv in Taxes & Budget Dec. 19, 2014, 3:42 a.m.

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#1802

57 votes

Introduce the Tobin Tax, or "Robin Hood tax", aka transactions fees tax on all international exchanged over $100,000. Can be as low as .05% and should be shared equally between countries whose currencies are being exchanged.

Submitted by Jonathan P. in Taxes & Budget Dec. 20, 2014, 2:33 a.m.

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#1802

57 votes

Corporations who benefit from the repeal of the medical device tax cannot benefit from tax inversion and off-shoring. If you leave Minnesota for Ireland, your medical device tax doubles. No, triples.

Submitted by Julie S. from MN in Taxes & Budget Jan. 7, 2015, 12:27 p.m.

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#1831

55 votes

AGGRESSIVE campaign pushing for SHIFTING the tax burden back to the people and corporations who have ALL the money. Instead of a piecemeal tax credit/cut discussion make it an actual platform plank and use the term TAX SHIFT as the right used DEATH TAX. This doesn't involve lowering or raising taxes, but shifting the burden back where it was, HISTORICALLY.The money in the hands of the working people instead of the economic royalists will stimulate the economy far better.

Submitted by Earl H. from FL in Taxes & Budget Dec. 11, 2014, 10:08 a.m.

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#1831

55 votes

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