Tax all the income of people who have assets over $300,000. This includes making mandatory reporting of wages outside of our country. If money is made there and taxed there, it should be TAXED AGAIN in the United States! Those who do do not report it should have 5 year mandatory prison sentences without chance of parole.
If all government employees and elected official were to be required to contribute to Social Security/medicare, and medicaid. They would not be so inclined to try to get rid of it. 2. End all payments of health benefits and retirement programs to elected officials, They should pay for their own, the same as every other American 3. End all payments after these elected officials leave office. These payments put a drain on our economic health.
Congress SHALL BE PROHIBITED NOW AND FOREVER MORE from in any way writing into annual, crucial national budget legislation bills ANY SPECIAL INTEREST-driven legislative proposals and/or propositions that directly benefit and serve Wall Street's amoral, self-centered, self-serving, Big-Banking (i.e., THIEVING!) interests. Permitting these criminals to dictate any national budget-affecting laws only further undermines and sabotages THE PUBLIC'S and THE NATION'S best economic interests... PERIOD!
Corporate Executives are paid 90% in their own Companies Stock. These are Not awards or Options but Contracted Guaranteed Annual Income. IBM Executives are paid in "Performance Service Units" aka IBM stock, keep the stock for 365 days plus 1 day and then cash in for real dollars as to be taxed at 15 to 20% to avoid 39% ordinary Income tax rates. This form of tax avoidance compensation in Corporate America also incentivizes Corporations to "Buy Back" their own shares to "boost the stock price".
Eliminate the distinction between income from different sources. Have a standard deduction and progressive rates. Aggregate earned income, income from capital gains, income from inheritance, gifts, winnings, etc. This should correspond with eliminating the cap on Social Security taxes and equality between corporate and personal tax treatment.
Eliminate Property Tax, on one personal residence, for each adult. This will align us with Article 17 of Elanor Roosevelt's Universal Declaration Of Human Rights which states 1. Everyone has the right to own property, and 2. No One shall be arbitrarily deprived of his property.(Prop. Tax is Arbitrary)
Make all credit card interest deductible. For regular people, credit cards are often the private version of the public safety net they don't have, and credit card interest is the very high tax many citizens pay to have someone care about them in times of often desperate need, when the US government has abandoned them. Taxing income that just goes straight back out to such "private taxation" amounts to double taxation on our poorest citizens.
Fix out of date SSI rules and limits which were except for the savings limit not changed since 1972 when Pres Nixon signed SSI into law, like the Burial Limit of $1500 and the equally bad Life Insurance limit of $1500.00, both should be removed, the savings limit should be raised to $10,000($15,000 for couples) from the current $2,000($3,000 couples) limits that was last raised in 1989, plus revise the rules to make it easier to leave SSI gracefully either in whole or in part like HR1601/S2089.
Replace Capital Gains tax with a tax policy that strongly favors domestic (US) reinvestment. It used to be that when people had capital gains, any lower rate meant investors would naturally invest here at home. Today's multi-national corporations freely locate plants abroad at expense of US jobs, to avoid taxes, and to dodge labor and environmental regulation. The US citizenry shouldn't be subsidizing such practices. Tax breaks should reward and encourage trends we want/need.