Social security is a separate deduction.
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Non government entities in the private sector can run society just fine.
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Agree with what youâre trying to reach. Thatâs why I proposed something like Iâm looking below. Update the Internal Revenue Code - A Detailed Proposal
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Praying a tax thatâs measured to protect our freedom is just in my opinion. I donât see it as buying our freedom.
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Iâm not tracking how this will incentivize businesses to come to the United States?
Hear, hear! Enforce the Bill of Rights and Constitution
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Americans have to answer to the government and fill out forms detailing what we do with our property, we are not to work for them. Taxes are to fund the Government not to control the people.
If youâre a business and you sell to America and the Business Tax is 15% and the Tariff is 25%, you will increase your earnings per good or service by 10% if you move to the U.S.A. Yes, they will have a cost to build a new location but, they also have competition from Businesses in America that have the reduced cost. Now labor costs may be higher here, we can adjust the Tariff to compensate for this.
From a management standpoint:
Aug 19, 2024More than 213.3 million returns and other forms were filed electronically. These represented 78.6 percent of all filings. - IRS
The number of Businesses is roughly >33 million, that is a lot less entities for the IRS to cover and thus, less cost and far easier to enforce.
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If you have a moment sometime, Iâd like your input on my proposal. Iâve linked it here.
I donât see what youâre mentioning being able to get approved in our current system, but maybe baby steps start improving what we have? My proposal would eliminate the need for the IRS when thereâs no deductions in flat percentages. It does not take $100 billion to process and enforce.
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Over what we now have, sounds like an improvement in some areas.
The Treasury handling taxes over the IRS is something that people are going to love. The IRS is seen as inefficient, and the Tax regulations are a mess.
Putting the States in charge of Education uses our federal system to produce individual test cases. I believe they will develop new ways of teaching we do not yet use. The state, being governments truncates the Lefts ability to argue that you are eliminating education.
5k deductions for each dependent and 0% on first 35k
This will be popular.
15% for the majority of Americans, I can love all of this, and the people will too.
25% as top bracket is Fantastic.
This is a great idea, I think most Americans would agree people should be helped to survive but, a better lifestyle earned should be the goal.
Your Tariffs and Excise Taxes section is bad. First off Taxes on Businesses can be lowered domestically and so would prices.
Carbon Tariffs are a Marxist scheme.
A wealth Tax? So, youâre a Leftist trying to punish and control people?
Something the Founders were against.
Again, Financial Transaction Tax? Making sure people donât succeed.
Corporate Minimum Tax is not needed if there are no deductions, and if there are, they should have the right to use them.
There should be NO capital gains Tax, it impedes wealth creation, the point is to fund the government adequately not try to find every way to get the money the government doesnât yet have control of.
Bonds, the governments traditional method of spending money it doesnât have; I believe the government has shown itâs inability to act financially responsible so many times in the past that, other than a declared war by Congress, no debt by the government should be allowed.
Reducing Tax burdens grows the economy, which is why the U.S.A. became the richest country on earth. Our economy can outgrow our debt if we foster growth and success not government taxation.
Trump did mention replacing the income tax with Tariffs, so I am hopeful.
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I really appreciate your feedback. Some of the wording in my proposal couldâve been simplified. There really isnât a capital gains tax in my proposal. Itâs simply the same income tax on all earned, based on the percentages. But itâs a little wordy how it came out when I did the calculations.
I see what youâre saying about the tax on you luxury items that would definitely be a point of contention; however, I see it a better method of supporting required government operation if needed than taxing items that are required to sustain life.
The tax on emissions, I see as a way to incentivize companies to try to make the best product with the least amount of impact to our environment, Which most auto makers are fully capable of producing. The same goes for the sin tax. Those things that have proven to impact health, which increase insurance cost on healthcare remain an item to consider Those taxes could go back Into reducing insurance cost, while still requiring coverage. This is not what I had originally proposed, here but thatâs another good approaching this topic.
Again, thank you very much. I really appreciate your insight and I do understand what youâre saying. Iâm hoping this site continues to produce discussions.
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You should read about conversation of state.
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Go read about conversation of state, put in the constitution to protect us, if these days ever ce. They are here!
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Yes, thank you for reminding me. I have read some of the proposals.
The federal income tax does not have the power or right to tax we the people. It was set up for corporations, D.C. citizens and the federally employed.
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There is not one law stating that we the people must pay income taxes. The I.R.S, codes do not define income. Income is corporate gains, we the people work for wages and salaries which are not taxable. Taxing we the peoples energy is slavery no matter what the percentage is. Abolish it like yesterday.
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Yes⌠get rid of the IRS like yesterday!!
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Yes! And abolish the IRS and the Fed Reserve.
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This would give every hardworking American the pay raise they deserve. Please make this happen.
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