MSNY
BadAss
Instead of cutting the federal deficit, put more money into the pockets of average working families by expanding the Earned Income Tax Credit to include people earning up to $50,000 per year and reduce their income taxes to $0.
Exempt the first $20,000 from payroll taxes.
Pay 10% on incomes between $50,000 - $90,000/year.
Pay 20% on incomes between $90,000 - $120,000/year.
Pay 30% on incomes between $120,000 - $250,000/year
Make up the missing money by increasing the taxes on those responsible for causing our Great Recession:
"Make up the revenues by increasing taxes on incomes between $250,000 to $500,000 to 40 percent; between $500,000 and $5 million, to 50 percent; between $5 million and $15 million, to 60 percent; and anything over $15 million, to 70 percent.
"And raise the ceiling on the portion of income subject to payroll taxes to $500,000.
"It’s called progressive taxation."
Robert Reich
Robin Hood mentality, take from the evil rich and give to the
poor downtrodden?
So why would anyone WANT to make more money, above $250,000?
No incentive for me.
I'll stay poor and let the OTHER rich guy pay my way to entitlements,
give a aways, and freebies.
You want fair?
Abolish the IRS first. Reduce the tax code to one page, flat
tax, done.